Vertex and Kymera Form Strategic Collaboration

Vertex Pharmaceuticals and Kymera Therapeutics have announced that the two companies have entered into a four-year strategic research and development collaboration to advance small molecule protein degraders against multiple targets.  The collaboration will leverage Kymera’s expertise in targeted protein degradation and its proprietary Pegasus^TM drug discovery platform and Vertex’s scientific, clinical, and regulatory capabilities to accelerate the development of first-in-class medicines for people with serious diseases.

Under the terms of the four-year agreement, Vertex will pay Kymera $70 million upfront including an equity investment in the company.  Kymera will conduct research activities in multiple targets under the collaboration.  Upon designation of a clinical development candidate, Vertex has the option to exclusively license molecules against the designated target.  Kymera is also eligible to receive more than $1 billion in potential payments based upon the successful achievement of specified research, development, regulatory, and commercial milestones for up to six programs optioned as part of the collaboration.  In addition, Vertex will pay tiered royalties on future net sales on any products that may result from this collaboration. (Source: Kymera Therapeutics Website, 15 May, 2019)