Kymera rais­es $65M from glob­al syn­di­cate as it aims for the clin­ic with pro­tein degra­da­tion tech

You can add Kymera Ther­a­peu­tics to the list of biotechs at­tract­ing at­ten­tion from an in­ter­na­tion­al set of in­vestors.

The biotech is tak­ing the lid off a $65 mil­lion round that’s been put to­geth­er to help steer the dis­cov­ery-stage com­pa­ny to­ward the clin­ic — a land­mark af­fair for Kymera that isn’t go­ing to ar­rive ahead of 2020.

In­cu­bat­ed by At­las and blessed with a $30 mil­lion launch round a year ago — af­ter start­ing up with seed fund­ing in Lab­Cen­tral in Cam­bridge, MA — Kymera now has the cash to grow the team and the pipeline of pre­clin­i­cal pro­grams. Like oth­ers in the field, their sci­en­tists are fo­cused on hi­jack­ing the body’s ubiq­ui­tin-pro­tea­some sys­tem to dis­pose of pro­teins, bind­ing to pro­teins and mark­ing them for de­struc­tion.

Nel­lo Main­olfi

But they’re do­ing it with a plat­form built on a com­plex ap­proach us­ing in­for­mat­ics-dri­ven tar­get iden­ti­fi­ca­tion cou­pled to pre­dic­tive mod­el­ing, new degra­da­tion tools as well as nov­el E3 lig­as­es and lig­ands. 

“It’s a pret­ty hot field,” Nel­lo Main­olfi, the chief tech of­fi­cer and co-founder, tells me. And the mon­ey gives them a chance to shine more of a light on the tech they’re us­ing at a time that the “po­ten­tial of degra­da­tion is just scratch­ing the sur­face now.”

Lau­rent Au­doly

The cash al­so gives the com­pa­ny, which isn’t say­ing much now about its lead pro­grams, a chance to keep on adding tal­ent, says CEO Lau­rent Au­doly.

Pro­tein degra­da­tion R&D isn’t new. Jay Brad­ner launched C4 Ther­a­peu­tics to blaze the pro­tein degra­da­tion ap­proach just be­fore he took the helm at the No­var­tis In­sti­tute of Bio­med­ical Re­search, then re­cent­ly formed a dis­cov­ery al­liance with UC Berke­ley with the same ba­sic ap­proach in mind. Arv­inas al­so has cen­tered on pro­tein degra­da­tion, build­ing on the lab work of Yale’s Craig Crews.

6 Di­men­sions Cap­i­tal out of Chi­na joined Besse­mer Ven­ture Part­ners and Pfiz­er Ven­tures in co-lead­ing the deal, with par­tic­i­pa­tion by MRL Ven­tures Fund, Sanofi Ven­tures, Hat­teras Ven­ture Part­ners, and Aju IB In­vest­ment, in ad­di­tion to Kymera’s Se­ries A in­vestors. Wei Li of 6 Di­men­sions Cap­i­tal, An­drew Hedin of Besse­mer Ven­ture Part­ners, and Elaine Jones of Pfiz­er Ven­tures will join Kymera Ther­a­peu­tics’ board.

BiTE® Plat­form and the Evo­lu­tion To­ward Off-The-Shelf Im­muno-On­col­o­gy Ap­proach­es

Despite rapid advances in the field of immuno-oncology that have transformed the cancer treatment landscape, many cancer patients are still left behind.1,2 Not every person has access to innovative therapies designed specifically to treat his or her disease. Many currently available immuno-oncology-based approaches and chemotherapies have brought long-term benefits to some patients — but many patients still need other therapeutic options.3

As it hap­pened: A bid­ding war for an an­tibi­ot­ic mak­er in a mar­ket that has rav­aged its peers

In a bewildering twist to the long-suffering market for antibiotics — there has actually been a bidding war for an antibiotic company: Tetraphase.

It all started back in March, when the maker of Xerava (an FDA approved therapy for complicated intra-abdominal infections) said it had received an offer from AcelRx for an all-stock deal valued at $14.4 million.

The offer was well-timed. Xerava was approved in 2018, four years after Tetraphase posted its first batch of pivotal trial data, and sales were nowhere near where they needed to be in order for the company to keep its head above water.

RA Cap­i­tal, Hill­house join $310M rush to back Ever­est's climb to com­mer­cial heights in Chi­na

Money has never been an issue for Everest Medicines. With an essentially open tab from their founders at C-Bridge Capital, the biotech has gone two and a half years racking up drug after drug, bringing in top exec after top exec, and issuing clinical update after update.

But now other investors want in — and they’re betting big.

Everest is closing its Series C at $310 million. The first $50 million comes from the Jiashan National Economic and Technological Development Zone; the remaining C-2 tranche was led by Janchor Partners, with RA Capital Management and Hillhouse Capital as co-leaders. Decheng Capital, GT Fund, Janus Henderson Investors, Rock Springs Capital, Octagon Investments all joined.

Mer­ck wins a third FDA nod for an­tibi­ot­ic; Mereo tack­les TIG­IT with $70M raise in hand

Merck — one of the last big pharma bastions in the beleaguered field of antibiotic drug development — on Friday said the FDA had signed off on using its combination drug, Recarbrio, with hospital-acquired bacterial pneumonia and ventilator-associated bacterial pneumonia. The drug could come handy for use in hospitalized patients who are afflicted with Covid-19, who carry a higher risk of contracting secondary bacterial infections. Once SARS-CoV-2, the virus behind Covid-19, infects the airways, it engages the immune system, giving other pathogens free rein to pillage and plunder as they please — the issue is particularly pertinent in patients on ventilators, which in any case are breeding grounds for infectious bacteria.

Por­tion of Neil Wood­ford’s re­main­ing in­vest­ments, in­clud­ing Nanopore, sold off for $284 mil­lion

It’s been precisely one year and one day since Neil Woodford froze his once-vaunted fund, and while a global pandemic has recently shielded him from the torrent of headlines, the fallout continues.

Today, the California-based patent licensing firm Acacia Research acquired the fund’s shares for 19 healthcare and biotech companies for $284 million.  Those companies include shares for public and private companies and count some of Woodford’s most prominent bio-bets, such as Theravance Biopharma, Oxford Nanopore and Mereo Biopharma, according to Sky News, which first reported the sale. It won’t include shares for BenevelontAI, the machine learning biotech once valued at $2 billion.

Drug man­u­fac­tur­ing gi­ant Lon­za taps Roche/phar­ma ‘rein­ven­tion’ vet as its new CEO

Lonza chairman Albert Baehny took his time headhunting a new CEO for the company, making it absolutely clear he wanted a Big Pharma or biotech CEO with a good long track record in the business for the top spot. In the end, he went with the gold standard, turning to Roche’s ranks to recruit Pierre-Alain Ruffieux for the job.

Ruffieux, a member of the pharma leadership team at Roche, spent close to 5 years at the company. But like a small army of manufacturing execs, he gained much of his experience at the other Big Pharma in Basel, remaining at Novartis for 12 years before expanding his horizons.

President Donald Trump (left) and Moncef Slaoui, head of Operation Warp Speed (Alex Brandon, AP Images)

UP­DAT­ED: White House names fi­nal­ists for Op­er­a­tion Warp Speed — with 5 ex­pect­ed names and one no­table omis­sion

A month after word first broke of the Trump Administration’s plan to rapidly accelerate the development and production of a Covid-19 vaccine, the White House has selected the five vaccine candidates they consider most likely to succeed, The New York Times reported.

Most of the names in the plan, known as Operation Warp Speed, will come as little surprise to those who have watched the last four months of vaccine developments: Moderna, which was the first vaccine to reach humans and is now the furthest along of any US effort; J&J, which has not gone into trials but received around $500 million in funding from BARDA earlier this year; the joint AstraZeneca-Oxford venture which was granted $1.2 billion from BARDA two weeks ago; Pfizer, which has been working with the mRNA biotech BioNTech; and Merck, which just entered the race and expects to put their two vaccine candidates into humans later this year.

Covid-19 roundup: Ab­b­Vie jumps in­to Covid-19 an­ti­body hunt; As­traZeneca shoots for 2B dos­es of Ox­ford vac­cine — with $750M from CEPI, Gavi

Another Big Pharma is entering the Covid-19 antibody hunt.

AbbVie has announced a collaboration with the Netherlands’ Utrecht University and Erasmus Medical Center and the Chinese-Dutch biotech Harbour Biomed to develop a neutralizing antibody that can treat Covid-19. The antibody, called 47D11, was discovered by AbbVie’s three partners, and AbbVie will support early preclinical work, while preparing for later preclinical and clinical development. Researchers described the antibody in Nature Communications last month.

Michael Gladstone, partner at Atlas Venture

At­las rais­es new $400M fund amid spree of VC rais­es. Here’s what they’ll spend it on

You can add another few hundred million to the now Montana-sized reservoir of cash biotech VCs have raised since the WHO declared Covid-19 a pandemic.

Atlas Venture, the prominent Kendall Square incubator, has raised $400 million for its twelfth biotech fund, their first in 3 years. After a string of mammoth new raises from other major VCs in April and May, the total pot now stands between $5 billion and $6 billion, depending on how you slice it.

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