What Kymera Therapeutics does

Kymera Therapeutics is a clinical-stage biopharmaceutical company founded in 2016 that pioneers targeted protein degradation (TPD), a modality which uses heterobifunctional small molecule degraders and molecular glues to redirect the cell's ubiquitin-proteasome system to eliminate disease-causing proteins, including those historically considered undruggable. The company's clinical pipeline is anchored by KT-621, a first-in-class once-daily oral STAT6 degrader in Phase 2b development for moderate-to-severe atopic dermatitis (BROADEN2) and eosinophilic asthma (BREADTH), which received FDA Fast Track designation for both indications based on Phase 1b data showing 98% STAT6 degradation in blood and 94% in skin, with 63% EASI reduction comparable to dupilumab. Additional clinical programs include KT-579 (first-in-class oral IRF5 degrader in Phase 1 for lupus), KT-485 (second-generation IRAK4 degrader in Phase 1, partnered with Sanofi), and KT-200 (first-in-class oral CDK2 molecular glue partnered with Gilead). The pipeline is supported by the proprietary Pegasus discovery platform, which integrates DNA-encoded libraries, fragment-based screening, AI/ML-enabled hit optimization, X-ray crystallography, cryo-EM, and access to over 600 unique E3 ligases to match target proteins with disease-selective ligases.

The Pegasus platform and degrader programs are protected by 500+ issued or pending patents, and the company is led by founder/CEO Nello Mainolfi (former Novartis) with a 250+ employee team headquartered in Watertown, Massachusetts, traded on NASDAQ as KYMR since a 2021 IPO. Kymera generates revenue primarily through collaboration agreements with major pharmaceutical partners — Sanofi (IRAK4 program, up to $975M in milestones plus 50/50 US profit split and double-digit tiered royalties ex-US) and Gilead Sciences (CDK2 program, up to $750M plus royalties, option exercised April 2026) — alongside equity financings; the company has no commercial product revenue, with FY2025 collaboration revenue of $39.2M and Q1 2026 collaboration revenue of $34.36M driven by a Gilead milestone. Management has stated intent to evolve from clinical-stage developer toward a fully integrated biopharma that discovers, develops, and commercializes its own medicines, supported by approximately $1.6B in cash providing runway into 2029 and a market capitalization of approximately $8.2B as of June 2026.

Name

Kymera Therapeutics

Legal name

Kymera Therapeutics, Inc.

Website

https://kymeratx.com

Company type

Public

Founded year

2016

Operating status

Operating

Headcount range

101–250 employees

Short description

Kymera Therapeutics is a clinical-stage biopharmaceutical company pioneering targeted protein degradation to develop first-in-class oral small molecule degraders for Type 2 inflammatory, autoimmune, and oncology diseases, serving patients and large pharma partners (Sanofi, Gilead) through wholly owned and partnered programs.

Ownership category

akta.pro rank

Product category

Biopharmaceuticals (Targeted Protein Degradation Therapeutics)

NAICS

Biological Product (except Diagnostic) Manufacturing (325414)

SIC

Biological Products, (No Disgnostic Substances) (2836)

akta.pro primary industry

Therapeutic Peptides & Protein/Peptide Biologics (HLAAAAAH)

Keywords

• Targeted protein degradation
• Protein degrader medicines
• Small molecule degraders
• Immunology therapeutics
• Oncology drug development

Headquarters

HQ city

Cambridge

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Technology or R&D, Personnel, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Collaboration/Partnership Revenue: Kymera generates revenue through strategic collaborations with major pharmaceutical companies. The company has collaboration agreements with Sanofi (IRAK4 program) and Gilead Sciences (CDK2 program), receiving milestone payments and potentially royalties on net sales. As a clinical-stage company with no commercial products, revenue is derived from upfront payments, development and regulatory milestones, and potentially sales milestones and royalties.
2. Public Offerings / Equity Financing: The company has raised significant capital through public equity offerings. In 2025, the company raised approximately $980.7 million through follow-on public offerings, ending 2025 with $1,619.4 million in cash, cash equivalents, and marketable securities.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels5 records

Core offering

Kymera Therapeutics is a clinical-stage biopharmaceutical company that discovers and develops oral small molecule medicines using targeted protein degradation (TPD), a modality that hijacks the cell's natural protein disposal machinery to eliminate disease-causing proteins. Its pipeline includes first-in-class oral degrader candidates (KT-621, KT-579, KT-485, KT-200, KT-474) for immunology and oncology indications, enabled by the proprietary Pegasus drug discovery platform.

Product overview

Kymera Therapeutics is a clinical-stage biopharmaceutical company pioneering targeted protein degradation (TPD) to develop a pipeline of first-in-class oral small molecule degrader medicines. The company's pipeline includes multiple clinical-stage programs: KT-621 (STAT6 degrader) in Phase 2b for atopic dermatitis and asthma; KT-579 (IRF5 degrader) in Phase 1 for lupus; KT-485 (IRAK4 degrader) in Phase 1 partnered with Sanofi; and KT-200 (CDK2 molecular glue degrader) partnered with Gilead. The proprietary Pegasus platform enables the discovery and development of heterobifunctional degraders that engage E3 ligases to selectively eliminate disease-causing proteins, addressing targets previously considered undruggable.

Differentiator

Problem solved

Functional benefit

Products and services

• KT-621 (STAT6 Degrader) First-in-class, once-daily oral STAT6 degrader for Type 2 inflammatory diseases including moderate-to-severe atopic dermatitis, eosinophilic asthma, COPD, eosinophilic esophagitis, chronic rhinosinusitis with nasal polyps, chronic spontaneous urticaria, prurigo nodularis, and bullous pemphigoid. Demonstrated 98% STAT6 degradation in blood and 94% in skin in Phase 1b, with clinical efficacy comparable to dupilumab.
• KT-579 (IRF5 Degrader) First-in-class oral IRF5 degrader targeting the historically undrugged transcription factor IRF5 for lupus, Sjögren's syndrome, rheumatoid arthritis, inflammatory bowel disease, systemic sclerosis, and dermatomyositis.
• KT-485 (IRAK4 Degrader / SAR447971) Second-generation, first-in-class, selective, potent, oral IRAK4 degrader partnered with Sanofi for immune-inflammatory diseases including hidradenitis suppurativa, atopic dermatitis, psoriasis, IBD, asthma, COPD, RA, and SLE.
• KT-200 (CDK2 Molecular Glue Degrader) First-in-class oral CDK2 molecular glue degrader partnered with Gilead Sciences for breast cancer and other solid tumors. CDK2 is a master regulator of the cell cycle with strong genetic and clinical validation; selectively degrades CDK2 while sparing closely related kinases like CDK1.
• KT-474 (First-generation IRAK4 Degrader) First-generation oral IRAK4 degrader; the first heterobifunctional small molecule protein degrader outside of oncology to enter clinical development. Completed Phase 1 studies and provided proof-of-concept for the company's degrader modality.
• Pegasus Discovery Platform Proprietary targeted protein degradation drug discovery platform combining DNA encoded libraries, fragment and X-ray based screenings, machine learning and AI for hit-validation and optimization, structure-based drug design, and global quantitative proteomics to match target proteins with optimal E3 ligases from a library of over 600 unique options.

Quantifiable outcome

• KT-621 achieved 98% STAT6 degradation in blood and 94% in skin in Phase 1b atopic dermatitis patients
• +7 more outcomes

Named customers4 records

Segments3 records

Ideal customer profiles1 record

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

Four partnerships are on record, tiered flagship and minor.

• Gilead SciencesflagshipStrategic or Co-development Partner · 25 June 2025Kymera and Gilead Sciences entered an exclusive option and license agreement for a novel molecular glue degrader program targeting CDK2 for broad oncology applications including breast cancer and other solid tumors. Gilead exercised its option in April 2026, triggering a $45 million milestone payment. The agreement includes potential total payments of up to $750 million. Gilead plans to advance KT-200 into IND-enabling studies with an IND submission targeted for 2027, while Kymera retains certain co-development and co-commercialization rights.
• SanofiflagshipStrategic or Co-development Partner · 7 July 2020Kymera's partnership with Sanofi is designed to accelerate the path to broader clinical development and commercialization of oral, first-in-class protein degrader therapies targeting IRAK4 in patients with immune-inflammatory diseases. Sanofi is progressing the IRAK4 program (KT-485/SAR447971 and first-generation KT-474) through clinical development. Kymera has the option to participate in future development and commercialization, and a 50/50 profit split in the United States, with double-digit tiered royalties in rest of world. The collaboration includes potential for up to $975 million in total development and commercialization milestones. A $20 million milestone was triggered in June 2026 for the Phase 1 trial commencement of KT-485.
• National Eczema AssociationminorOthersKymera is engaged with patient advocacy organizations, including the National Eczema Association and International Eczema Council, to better understand unmet needs to inform research and clinical trials.
• International Eczema CouncilminorOthersKymera is engaged with patient advocacy organizations including the International Eczema Council to help better understand unmet needs to inform research and clinical trials for atopic dermatitis and related Type 2 inflammatory conditions.

Scale indicators9 records

Recent moves6 records

Expansion highlights7 records

Broad incumbents

• Vertex Pharmaceuticals: Profitable, multi-product biopharma with similar trajectory from clinical-stage biotech to commercial success in specialty diseases. Relevant benchmark for capital-efficient biopharma scaling.
• Regeneron Pharmaceuticals: Large-cap biopharma whose Dupixent (dupilumab) is the entrenched injectable biologic KT-621 is positioned to disrupt. Most relevant commercial competitor and benchmark for atopic dermatitis/astha efficacy.
• Bristol Myers Squibb: Large-cap biopharma with significant immunology and oncology franchises that overlap with Kymera's target indications. Relevant as a potential strategic acquirer and benchmark for pipeline value in these therapeutic areas.
• Alnylam Pharmaceuticals: Commercial-stage RNA interference therapeutics company, comparable in modality-pioneering approach (similar to Kymera's TPD modality) with validated pharma partnerships and Kymera board member John Maraganore as former CEO.
• Sanofi: Global biopharma with co-marketing rights to Dupixent (through Regeneron partnership) and Kymera's IRAK4 collaborator on KT-485. Comparable as a major immunology player and strategic pharma partner.

Direct peers

• C4 Therapeutics: Clinical-stage TPD company developing both catalytic degraders (MonoDACs) and bifunctional degraders (DACOATs). Directly comparable to Kymera with clinical-stage oncology pipeline and similar protein degradation approach.
• Monte Rosa Therapeutics: Clinical-stage company developing molecular glue degraders (MGDs) to treat immunology and oncology indications. Direct competitor in the protein degradation modality with shared mechanism and therapeutic area focus.
• Arvinas: Clinical-stage biopharma pioneering targeted protein degradation with PROTAC degraders (ARV-471 in breast cancer, ARV-102 in neurology). Most direct competitor to Kymera in the heterobifunctional degrader space with overlapping modality and clinical-stage assets.
• Nurix Therapeutics: Clinical-stage biotech developing targeted protein modulation via degraders (DUBs) and ligases. Directly comparable TPD-focused company with clinical assets in immunology and oncology and major pharma partnerships including Sanofi.

Emerging players

• Foghorn Therapeutics: Clinical-stage biotech targeting chromatin regulatory dysregulation in cancer through protein degradation-adjacent approaches. Adjacent modality overlap and similar clinical-stage profile.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/kymeratherapeutics
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Revenue estimate

Valuation estimate

Number of profiles

Profiles18 records

Funding overview

Funding rounds10 records

Investors25 records

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M&A

Investments

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Frequently asked questions about Kymera Therapeutics