Press Release May 17, 2019

Vertex and Kymera Therapeutics Establish Strategic Collaboration to Discover and Develop Targeted Protein Degradation Medicines for Serious Diseases

The Life Sciences team advised Kymera Therapeutics in a four-year strategic research and development collaboration agreement with Vertex Pharmaceuticals to advance small molecule protein degraders against multiple targets.

The collaboration will leverage Kymera’s expertise in targeted protein degradation and its proprietary PegasusTM 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 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.

The Goodwin team was led by partners Sarah Solomon and William Collins, and associates Erini Svokos, Gabriela Morales-Rivera, Katherine Hand and Sarah Smith.

For additional details on the collaboration, please read the press release.