Kymera Therapeutics Announces $102 Million Series C Financing to Advance its Protein Degrader Pipeline and Platform
Kymera Therapeutics Inc., a biotechnology company pioneering targeted protein degradation to invent breakthrough protein degrader medicines for patients, today announced the closing of a $102 million 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. Existing investors also participated in the round.
Kymera’s IRAK4 degrader for hidradenitis suppurativa: Hitting an elusive target hard for a hard-to-treat inflammatory disease
IRAK4 is a key component of the myddosome, a protein complex that transmits signals from toll-like receptors (TLRs) and IL-1 receptors (IL-1Rs) to activate the innate immune response to infectious pathogens.
Translation of well validated biology into therapeutics remains one of the biggest challenges of modern drug development, in many cases due to lack of appropriate technologies to drug well credentialed biological targets. Examples in this category include driver oncogenes such as MYC, b-catenin and STAT3; catalytically active scaffolding kinases such as IRAK4 and RIPK’s or proteins whose accumulation is associated with well-established pathology such as alpha-synuclein in Parkinsons’s Disease or Tau in dementia and Alzheimer’s Disease.