Kymera Therapeutics announces Gilead option exercise to license KT-200

Kymera Therapeutics (KYMR) announced that Gilead Sciences (GILD) has exercised its option to exclusively license KT-200, oral CDK2 molecular glue degrader development candidate discovered and characterized by Kymera, under their strategic collaboration agreement. As a result, Kymera will realize a $45M milestone payment. Gilead will progress the program into IND-enabling studies to support an IND filing in 2027. CDK2-directed molecular glue degraders represent a novel therapeutic approach designed to selectively remove CDK2, a key driver of tumor growth, rather than just inhibiting its function whilst sparing other CDK family proteins. CDK2 acts as a cyclin E binding partner and drives disease in CCNE1 amplified and over expressed cancers. Traditional CDK2 inhibitors can lack specificity and interfere with closely related proteins, leading to undesired side effects. Degraders have the potential to provide more precise, safe, effective, oral treatments for cancers that rely on CDK2 activity, with the potential to meaningfully improve outcomes for patients, including those with advanced breast cancer where treatment options remain limited. In preclinical testing, KT-200 demonstrated low-nanomolar degradation of CDK2, robust activity in CCNE1 amplified, overexpressed cell lines and in vivo tumor models, brain penetrant potential, and a favorable safety profile. Under the terms of the agreement, Kymera is eligible to receive up to $750M in total payments. To date, Kymera has realized $85M in upfront and option exercise payments. In addition, Kymera may also receive tiered royalties ranging from high single-digit to mid-teens on net product sales under the collaboration. Gilead has global rights to develop, manufacture and commercialize all products resulting from the collaboration.