Schrödinger Announces Licensing and Collaboration Agreement with Tectora Therapeutics, a New Biotechnology Company It Co-founded to Advance Immunology and Inflammation Programs

Schrödinger spins two immunology assets into co-founded Tectora, gaining equity plus potential milestones and royalties backed by a $55 million Series A.

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

Tectora secures $55 million Series A investment from NEA and RA Capital Management

NEW YORK--(BUSINESS WIRE)-- Schrödinger, Inc. (Nasdaq: SDGR) today announced the formation of Tectora, a new biotechnology company it co-founded with New Enterprise Associates (NEA) and RA Capital Management, focused on developing innovative therapies for immunology and inflammation. Tectora concurrently closed a $55 million Series A investment from NEA and RA Capital.

In connection with the transaction, Schrödinger contributed two early-stage small molecule programs (SDGR-4594 and SDGR-8139) and, in exchange, received an equity stake in Tectora and is also eligible to receive future milestones and royalties. Tectora will partner with Schrödinger’s drug discovery experts and leverage Schrödinger’s computational platform at scale to further advance these programs to clinical candidates.

“Schrödinger has a track record of creating and enabling programs for licensing to pharma companies or joining forces with venture funds to build successful biotechnology companies such as Nimbus, Morphic, Structure and Ajax. These partnerships have collectively generated over $750 million in proceeds to Schrödinger,” said Karen Akinsanya, Ph.D., President, Therapeutics R&D, and Chief Strategy Officer, Partnerships, at Schrödinger. “We co-founded Tectora with NEA and RA Capital to pair our breakthrough science with the dedicated capital and industry expertise needed to rapidly advance these programs to patients.”

“As early-stage company builders we look for opportunities where exceptional science is paired with a motivated entrepreneurial team,” said J.C. Lopez, Principal, New Enterprise Associates. “We believe the Tectora team, paired with Schrödinger’s internal drug discovery team and industry-leading computational platform, will be able to successfully advance programs against historically challenging immunology and inflammation targets.”

“We were drawn to the opportunity to leverage Schrödinger’s drug discovery expertise and capabilities to develop therapeutics against high-value, validated targets,” said Jenna Hebert, Ph.D., Investment Director, RA Capital Management. “Immunology and inflammation remain areas of immense unmet patient need, and we are excited to co-found Tectora to advance these high-potential programs through preclinical development and into the clinic.”

About Tectora Therapeutics
Tectora Therapeutics is a privately held biotechnology company developing differentiated oral medicines for immune mediated diseases. The company is focused on translating clinically validated biology into convenient oral medicines for patients. By partnering with Schrödinger, Tectora leverages advanced computational tools, drug discovery expertise, and preclinical capabilities to advance its initial programs. Tectora aims to build a broad pipeline of medicines for patients with significant unmet need. For more information, please visit https://tectoratx.com/.

About Schrödinger
Schrödinger is transforming molecular discovery with its computational platform, which enables the discovery of novel, highly optimized molecules for drug development and materials design. Schrödinger’s software platform is built on more than 30 years of R&D investment and is licensed by biotechnology, pharmaceutical and industrial companies, and academic institutions around the world. Schrödinger also leverages the platform to advance a portfolio of collaborative and proprietary programs. To learn more, visit www.schrodinger.com, follow us on LinkedIn, or visit our blog, Extrapolations.com.

About New Enterprise Associates
New Enterprise Associates, Inc. (NEA) is a global venture capital firm focused on helping entrepreneurs build transformational businesses across multiple stages, sectors and geographies. Founded in 1977, NEA has more than $35 billion in assets under management as of December 31, 2025, and invests in technology and healthcare companies at all stages in a company’s lifecycle, from seed stage through IPO. The firm's long track record of investing includes more than 285 portfolio company public listings and more than 510 mergers and acquisitions. For more information, please visit www.nea.com.

About RA Capital Management
Founded in 2004, RA Capital Management is a multi-stage investment manager dedicated to evidence-based investing in public and private healthcare, life sciences, and planetary health companies. RA Capital creates and funds innovative companies, from private seed rounds to public follow-on financings, allowing management teams to drive value creation from inception through commercialization and beyond. RA Capital’s knowledge engine is guided by TechAtlas, its science-first internal research division. Raven, RA Capital’s healthcare incubator, offers entrepreneurs and innovators a comprehensive business-building platform for biomedical innovation. RA Capital has over 250 employees and $16 billion in assets under management as of June 30, 2026. Learn more at www.racap.com.

Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995 including, but not limited to those statements regarding our ability to realize potential milestone and royalty payments, the risk that we may not realize the expected benefits of the collaboration with Tectora, the initiation, timing, progress and results of Tectora’s initial programs, and the potential advantages of Schrödinger’s computational platform. Statements including words such as “aim,” “anticipate,” “believe,” “contemplate,” “continue,” “could,” “estimate,” “expect,” “goal,” “intend,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” “would” and statements in the future tense are forward-looking statements. These forward-looking statements reflect Schrödinger’s current views about its plans, intentions, expectations, strategies and prospects, which are based on the information currently available to the company and on assumptions the company has made. Actual results may differ materially from those described in these forward-looking statements and are subject to a variety of assumptions, uncertainties, risks and important factors that are beyond Schrödinger’s control, including the expected benefits of, and opportunities related to, the collaboration with Tectora, Tectora’s ability to obtain sufficient funding and advance its initial programs, the uncertainties inherent in drug development and commercialization, uncertainties associated with the regulatory review of clinical trials and applications for marketing approvals, its ability to further develop its computational platform, its reliance on third-party collaborators, and the ability of Schrödinger and Tectora to retain and hire key personnel, and other risks detailed under the caption “Risk Factors” and elsewhere in the company’s Securities and Exchange Commission filings and reports, including its Quarterly Report on Form 10-Q for the quarter ended June 30, 2026, filed with the Securities and Exchange Commission on August 5, 2026, as well as future filings and reports by the company. Any forward-looking statements contained in this press release speak only as of the date hereof. Except as required by law, Schrödinger undertakes no duty or obligation to update any forward-looking statements contained in this press release as a result of new information, future events, changes in expectations or otherwise.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260909340138/en/

Jaren Madden (Investors and Media)
Schrödinger, Inc.
jaren.madden@schrodinger.com
617-286-6264

Matthew Luchini (Investors)
Schrödinger, Inc.
matthew.luchini@schrodinger.com
917-719-0636

Theresa Masnik (Media)
SHIFT Communications
schrodingerpr@shiftcomm.com
212-229-1037

Source: Schrödinger

Key Terms

series a financial

Series A is the first major round of outside equity financing for a privately held startup, where professional investors buy ownership stakes in exchange for capital to help the company move from early proof-of-concept toward scalable operations. It matters to investors because it sets an early price for the company and signals market confidence; successful Series A investments can deliver large returns if the business grows, but they also carry high risk similar to backing a promising prototype that still needs development.

small molecule technical

A small molecule is a low-weight chemical compound that can enter cells easily and interact with specific proteins or biological pathways to change how they work, much like a small key fitting into a lock. Investors care because small molecules are a common and often faster route to develop medicines, can be manufactured at scale, and may offer clearer regulatory and commercial paths compared with larger biologic therapies, affecting potential costs, timelines and returns.

equity stake financial

An equity stake is the portion of ownership in a company represented by holding its shares, like owning a slice of a pie where the size of your slice determines your claim on profits and decision-making power. For investors it matters because the size and type of that stake affect potential returns, influence over company strategy, exposure to risk, and vulnerability to dilution if more shares are issued.

royalties financial

Payments made to the owner of an asset or intellectual property each time that asset is used or a product is sold, often calculated as a percentage of sales or a set amount per unit. Royalties matter to investors because they create predictable, ongoing income streams and affect a company’s cash flow and valuation—like a landlord collecting rent or an author getting a steady cut whenever a book is sold.

preclinical development medical

Preclinical development is the stage where a potential drug, device, or therapy is tested in the lab and in animals to gather evidence on safety, how it works, and whether it’s worth trying in humans. Investors care because this phase creates early “proof” or warning signs about a candidate’s chances of success—similar to a prototype being stress-tested before production—so results strongly influence a project’s value, timeline, and risk.