AI drug discovery company Relay Therapeutics has secured USD 30 million as private investment in public equity from Nextech in return for 2.5 million shares sold at a price of USD 12.00 per share. The transaction is expected to close by January 10, 2024.

The proceeds will be utilized to expand the development of RLY-2608, a drug to treat breast cancer, and to cover working capital and other corporate needs.