Vertex Targeting Protein Degradation In $1bn Kymera Deal
Vertex and Kymera will use insights into the ubiquitin-proteasome pathway, for sending unwanted proteins off to recycling, to discover new drug candidates.
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Kymera will receive $150m upfront from Sanofi in a deal the big pharma views as an opportunity to develop a breakthrough oral drug for atopic dermatitis and other conditions.
Biopharma companies raised $12.4bn in Q2, largely from follow-on public offerings. In the latest mega-merger of the year, AbbVie spent $63bn on Allergan and its established portfolio. Many of the higher-valued alliances focused on the area of protein degradation.
Gilead is elbowing its way into the protein degradation field, seeking to build out a pipeline of oncology drugs in a $45m deal with Nurix. The pool is becoming crowded though, as many other big firms have latched onto this burgeoning field of R&D.