California-based AI biotech company Terray Therapeutics has entered a multi-target partnership with Bristol Myers Squibb (BMS) to pursue the discovery and development of novel small molecule therapeutics.

Terray will receive an upfront payment (amount undisclosed) and potential milestone payments associated with preclinical, clinical, and sales milestones, as well as royalties from the sales of any resulting products.

The collaboration will leverage Terray's tNova platform to discover and generate small molecule compounds for specific targets identified by BMS, after which BMS will handle the development and commercialization.