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Drug Discovery

Protein degradation start-up Kymera raises $102 million in series C financing

by Ryan Cross
March 15, 2020 | APPEARED IN VOLUME 98, ISSUE 10

 

Kymera Therapeutics has raised $102 million in a series C financing round led by Biotechnology Value Fund and Redmile Group. Kymera, one of C&EN’s 10 Start-Ups to Watch in 2018, designs small molecules that bind tough-to-drug proteins and tags them for destruction in the cell’s proteasome. CEO Nello Mainolfi says the new funds could help the firm start clinical testing for up to three of its programs by next year. Kymera’s lead drug candidate targets IRAK4, a protein involved in inflammation and autoimmune diseases.

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