Kymera Therapeutics, a clinical-stage biotechnology company pioneering targeted protein degradation (TPD), announced the successful pricing of a $250.8 million public offering to advance its pipeline of oral small molecule degraders for immunological diseases. The offering, priced at $44.00 per share, is expected to close on June 30, 2025.
Financing Details and Strategic Use of Proceeds
The company is selling 5,044,500 shares of common stock and 655,500 pre-funded warrants at $43.9999 per warrant. Kymera has also granted underwriters a 30-day option to purchase up to an additional 855,000 shares at the public offering price. The gross proceeds are expected to reach approximately $250.8 million before deducting underwriting discounts and commissions.
Kymera intends to use the net proceeds to continue advancing its pipeline of preclinical and clinical degrader programs that are designed to address large patient populations with significant need and clear commercial opportunity, along with working capital and other general corporate purposes.
Pioneering Targeted Protein Degradation Technology
Founded in 2016, Kymera is deploying TPD technology to address disease targets and pathways inaccessible with conventional therapeutics. The company has achieved a significant milestone by advancing the first degrader into clinical trials for immunological diseases, positioning itself at the forefront of this emerging therapeutic modality.
The company is focused on building an industry-leading pipeline of oral small molecule degraders to provide a new generation of convenient, highly effective therapies for patients with immunological conditions. This approach represents a novel mechanism of action that could potentially address critical health problems and dramatically improve patients' lives.
Market Position and Recognition
Kymera has established itself as a leader in the targeted protein degradation field and has been recognized as one of Boston's top workplaces for several consecutive years. The company's clinical-stage status and focus on oral small molecule degraders positions it uniquely in the biotechnology landscape.
The public offering was managed by a syndicate of prominent investment banks, including Morgan Stanley, J.P. Morgan, Jefferies, TD Cowen, and Leerink Partners as joint book-running managers, reflecting strong institutional confidence in the company's strategic direction and therapeutic approach.
