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Finance Watch: Kymera Will Start Protein Degrader Clinical Trials With $102m VC Round

 
• By Mandy Jackson

Private Company Edition: Kymera said it will take up to three programs into the clinic by next year. Also, three new life science funds recently launched, including a Gates Foundation-backed accelerator for COVID-19 treatments, and Cell Medica reemerges as Kuur with new funding for CAR-NKT therapies.

Finance Watch

Now that Kymera Therapeutics Inc. has raised nearly $200m in venture capital to date – including a $102m series C round announced on 12 March – and entered into two collaborations with big pharma partners, the company is ready to take up to three of its protein degraders into clinical trials. 

Cambridge, MA-based Kymera previously funded the early development of drug candidates from its Pegasus protein-degradation platform with a $30m series A round in 2017 and a $65m series B round in 2018. (Also see "Finance Watch: Biomatics Closes Second VC Fund; SVB Buys Leerink To Expand Life Science Services" - Scrip, 16 November, 2018

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