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VC-backed Kymera Therapeutics goes public

Cambridge, Massachusetts-based Kymera Therapeutics Inc., a biopharmaceutical company, has raised $173.7 million for its IPO after pricing its over 8.6 million shares at $20 per share.

Cambridge, Massachusetts-based Kymera Therapeutics Inc., a biopharmaceutical company, has raised $173.7 million for its IPO after pricing its over 8.6 million shares at $20 per share. The stock began trading August 21, 2020 on the NASDAQ under the ticker symbol “KYMR.” Morgan Stanley, BofA Securities, Cowen, and Guggenheim Securities are the lead underwriters. Kymera’s pre-IPO backers included Biotechnology Value Fund, Redmile Group, 6 Dimensions Capital, Bessemer Venture Partners and Pfizer Ventures.

PRESS RELEASE

WATERTOWN, Mass., Aug. 20, 2020 (GLOBE NEWSWIRE) — Kymera Therapeutics, Inc. (NASDAQ: KYMR), a biopharmaceutical company focused on discovering and developing novel small molecule therapeutics that selectively degrade disease-causing proteins by harnessing the body’s own natural protein degradation system, today announced the pricing of its upsized initial public offering of 8,684,800 common shares at a public offering price of $20.00 per share. All of the shares are being offered by Kymera. The gross proceeds of the offering, before deducting underwriting discounts and commissions, and other offering expenses payable by Kymera, are expected to be approximately $173.7 million. Kymera has granted the underwriters a 30-day option to purchase up to an additional 1,302,720 common shares at the initial public offering price.

The shares are expected to begin trading on the Nasdaq Global Market on August 21, 2020 under the ticker symbol “KYMR.” The offering is expected to close on August 25, 2020, subject to the satisfaction of customary closing conditions.

Morgan Stanley, BofA Securities, Cowen, and Guggenheim Securities, are acting as joint book-running managers for the offering.

A registration statement relating to these securities became effective on August 20, 2020. The offering will be made only by means of a prospectus. Copies of the final prospectus, when available, may be obtained from Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014, or by email at prospectus@morganstanley.com; BofA Securities, NC1-004-03-43, 200 North College Street, 3rd floor, Charlotte, NC 28255-0001 Attn: Prospectus Department, or by email at dg.prospectus_requests@bofa.com; Cowen and Company, LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY, 11717, Attention: Prospectus Department, by telephone at (833) 297-2926; Guggenheim Securities, LLC, Attention: Equity Syndicate Department, 330 Madison Avenue, New York, NY 10017, by telephone at (212) 518-5548, or by email at GSEquityProspectusDelivery@guggenheimpartners.com.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state, province, territory or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state, province, territory or jurisdiction.

About Kymera
Kymera Therapeutics is a biopharmaceutical company focused on advancing the field of targeted protein degradation by accessing the body’s innate protein recycling machinery to degrade dysregulated, disease-causing proteins to address previously intractable disease targets.