Schrodinger (SDGR), along with New Enterprise Associates and RA Capital Management, established a new biotechnology company named Tectora Therapeutics, according to a Wednesday statement.

Concurrently, Tectora completed a $55 million Series A investment from New Enterprise Associates and RA Capital, while Schrodinger contributed two early-stage small-molecule programs in exchange for a stake in the new company, according to the statement.

Schrodinger said it will be entitled to future milestones and royalties on the early-stage programs and will partner with Tectora on advancing the programs to clinical candidates. Financial terms of Schrodinger's licensing and collaboration agreement with Tectora were not disclosed.

Tectora will focus on developing therapies for immunology and inflammation, Schrodinger added.