Kymera Therapeutics, a preclinical biotech developing small molecule protein degrader therapies for immunology-inflammation and oncology, filed on Friday with the SEC to raise up to $100 million in an initial public offering.
The company uses its proprietary targeted protein degradation platform, Pegasus, to discover highly selective small molecule protein degraders with potent activity against disease-causing proteins throughout the body. Kymera expects to file an IND for KT-474, an orally bioavailable IRAK4 degrader, in the 1H 2021. If approved, the company will initiate a Phase 1 trial in adult healthy volunteers and hidradenitis suppurativa (HS) and atopic dermatitis (AD) patients.
The Watertown, MA-based company was founded in 2015 and booked $9 million in collaboration revenue for the 12 months ended June 30, 2020. It plans to list on the Nasdaq but has not selected symbol. Kymera Therapeutics filed confidentially on June 22, 2020. Morgan Stanley, BofA Securities, Cowen and Guggenheim Securities are the joint bookrunners on the deal. No pricing terms were disclosed.
