Sanofi Nabs Kymera IRAK4 Protein Degrader As It Continues To Build In I&I
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.
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The Boston-based biotech has secured a substantial new investment for its protein degradation platform which has the potential to treat currently undruggable cancers in a new way.
With 46 initial public offerings in the US by drug developers so far – including recent launches by Kymera, Inhibrx and Harmony – 2020 will easily beat last year’s 50 IPOs. In follow-on offerings and VC deals, newly public Schrodinger raised $346.5m and Tango’s $50m equity financing.
Bristol makes its own deal with Celgene ally Dragonfly, while Gilead ends virology partnerships with Durect and Precision BioSciences.