Kymera Therapeutics Inc., a Cambridge, Mass.-based biotechnology company advancing targeted protein degradation to create innovative medicines for patients, completed a $65m Series B financing.
The round was co-led by 6 Dimensions Capital, Bessemer Venture Partners, and Pfizer Ventures with participation from MRL Ventures Fund, Sanofi Ventures, Hatteras Venture Partners, and Aju IB Investment, in addition to Series A investors. In connjunction with the funding, 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.
The company intends to use the funds for the advancement of its lead asset into clinical development, and to progress its therapeutic pipeline in oncology and immunology.
Founded in 2016 by Laurent Audoly, PhD, president and CEO, and Nello Mainolfi, PhD, co-founder and chief technology officer, Kymera is advancing the field of targeted protein degradation, accessing the body’s innate protein recycling machinery to degrade dysregulated, disease-causing proteins. Powered by Pegasus™, an 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 is targeting and degrading the most intractable of proteins, and advancing new treatment options for patients.