Kymera Therapeutics Inc., a Cambridge, Mass.-based biotechnology company pioneering targeted protein degradation to invent breakthrough protein degrader medicines for patients, closed a $102m Series C financing.
The round was led by Biotechnology Value Fund (BVF) and Redmile Group with participation from Wellington Management Company, Bain Capital Life Sciences, funds managed by Janus Henderson Investors and BlackRock, Rock Springs Capital and a large US-based, healthcare-focused fund.
Kymera also received a strategic investment from The Leukemia & Lymphoma Society’s Therapy Acceleration Program® (LLS TAP) directed toward advancing the company’s work to treat blood-based cancers.
Led by Nello Mainolfi, PhD, co-founder, President and CEO, and Bruce Booth, DPhil, co-founder, Chairman of the Board (and partner at Atlas Venture), Kymera Therapeutics provides Pegasus™, a proprietary protein degradation platform to improve the effectiveness of targeted protein degradation and generate a pipeline of novel therapeutics for previously undruggable diseases. The platform consists of informatics driven target identification, novel E3 ligases, proprietary ternary complex predictive modeling capabilities, and degradation tools.
The lead program targets IRAK4, a protein known to play a significant role in inflammation mediated by toll-like and IL-1 receptors. The company is planning to advance its IRAK4 degrader program in a variety of autoinflammatory and autoimmune diseases, as well as in precision-medicine targeted oncology indications. It is also developing novel protein degrader therapies to target STAT3, an un-drugged oncogenic transcription factor as well as a driver of inflammation and fibrosis, in a range of cancers and chronic diseases.