Immunological Disease Targeted Protein Degradation Drug Company, Major Shareholders and Directors Sell Shares

On June 26, 2026, BVF Partners-affiliated funds, major shareholders of Nasdaq-listed biotech Kymera Therapeutics, Inc. (NASDAQ: KYMR), sold approximately 1.6 million shares on the open market at $106.50 per share, effecting a partial exit valued at about $175.7 million (roughly KRW 246 billion). The funds still retain a roughly 6.3% economic interest in Kymera—including pre-funded warrants—and any financial benefits from stock options granted to board appointee Goran Hrustanovich will accrue to the funds. They emphasized, however, that they have no activist plans beyond routine investment activities. On June 29, tens of thousands of shares were also sold on the open market under a Rule 10b5-1 trading plan by an Atlas-affiliated fund managed by board member Bruce Booth, generating approximately $3.55 million (around KRW 5 billion) in proceeds, while the funds continue to hold indirect stakes amounting to several million shares.

Recently, Kymera presented new preclinical data for KT-579—an oral degrader targeting interferon regulatory factor 5 (IRF5)—in lupus and inflammatory bowel disease at major conferences, including the European Congress of Rheumatology and Digestive Disease Week. Under its collaboration with Sanofi, the first participant has been dosed in a Phase 1 trial of KT-485, an oral IRAK4 degrader, triggering a $20 million milestone payment (approximately KRW 28 billion). These developments underscore continued progress and cash inflows across Kymera’s partnered pipeline with large pharmaceutical companies.

Kymera is a clinical-stage biotech leveraging targeted protein degradation to develop oral therapies for immune and inflammatory diseases such as atopic dermatitis, asthma, and autoimmune disorders. Its core assets—including the oral STAT6 degrader KT-621—have received Fast Track designation from the U.S. Food and Drug Administration. In the global pharma and biotech industry, collaborations and option exercises by major pharmaceutical companies around protein degradation platforms and oral immunology therapies are increasing, cementing co-development and licensing partnerships with multinational pharmas as a prevailing business model in this field.