Targeted degradation gets another bump with Kymera’s $102M raise

It’s a big year for targeted protein degraders, and Kymera is adding to the momentum with a $102 million series C round that should bring its first three programs into the clinic.

Biotechnology Value Fund (BVF) and Redmile Group led the round. New investors Wellington Management Co., Bain Capital Life Sciences, funds managed by Janus Henderson Investors and BlackRock, Rock Springs Capital and an undisclosed large U.S.-based, healthcare-focused fund joined other undisclosed existing investors in the round...