Kymera Therapeutics Inc., a biotechnology company pioneering targeted protein degradation to create breakthrough medicines for patients, announced today that it has completed a $65 million Series B financing.
| CAMBRIDGE, Mass., /PRNewswire/ -- Kymera Therapeutics Inc., a biotechnology company pioneering targeted protein degradation to create breakthrough medicines for patients, announced today that it has completed a $65 million Series B financing. The financing will support the advancement of its lead asset into clinical development, and to progress its therapeutic pipeline in oncology and immunology. The financing was co-led by 6 Dimensions Capital, Bessemer Venture Partners, and Pfizer Ventures with participation by MRL Ventures Fund, Sanofi Ventures, Hatteras Venture Partners, and Aju IB Investment, in addition to Kymera’s Series A investors. The company also announced Wei Li, PhD, of 6 Dimensions Capital, Andrew Hedin of Bessemer Venture Partners, and Elaine Jones, PhD, of Pfizer Ventures, will join Kymera Therapeutics’ Board of Directors. “We are delighted to have the support of this exceptional group of both new and existing investors and experts that share our vision and excitement on our progress to date,” said Laurent Audoly, PhD, president and CEO, Kymera Therapeutics. “In the last year, we’ve made great strides in building preclinical data packages supporting both the drug-like properties of our assets and their differentiated pharmacology. This rapid advancement has been enabled by our focused investment in Kymera’s industry-leading protein degradation platform and a stellar team of drug hunters and seasoned executives.” Since announcing its founding in 2016, Kymera Therapeutics has progressed its proprietary Pegasus™ integrated degradation platform, consisting of informatics-driven target identification coupled to ternary complex predictive modeling, new degradation tools, and novel E3 ligases and ligands. Kymera also entered into a two-year discovery collaboration agreement with GSK, leveraging innovations in small molecule-based targeted protein degradation and encoded library technologies. “This year has been marked by the maturation of our pipeline with applications across diverse target types and disease indications as well as a deeper understanding of the pharmaceutical properties required to develop protein degrading drugs,” said Nello Mainolfi, PhD, co-founder and chief technology officer, Kymera Therapeutics. “These insights have allowed us to refine our drug discovery platform and improve our ability to identify first-in-class drug candidates.” “Kymera is truly at the forefront of targeted protein degradation, one of the most exciting new areas of drug discovery and medicine,” said Bruce Booth, DPhil, Kymera co-founder, partner at Atlas Venture, and chairman of the board. “With an incredible team, advisors and syndicate and a singular focus on rational drug discovery, the company has quickly emerged as a leader in the field and is well-positioned to realize the potential of this transformational modality to impact patients.” About Kymera Therapeutics About Pegasus™ About 6 Dimensions Capital About Pfizer Ventures About Bessemer Venture Partners
SOURCE Kymera Therapeutics Inc. |
View original content:
