We are proud to announce that Kymera Therapeutics went public, trading on the Nasdaq: KYMR, and announced an important collaboration with Sanofi.
In the excitement of today’s biotech IPO market, and the bullish period since 2013, it’s almost hard to remember how painful the equity capital markets were back in the day.
Korro Bio has got off a meaty series A funding round, nabbing $91.5 million to run its platform of single-base RNA edits to treat a range of diseases.
The Cambridge, Massachusetts-based biotech will use the cash haul toward getting its preclinical program into the clinic, while also “establishing a broad portfolio of innovative RNA editing therapies.”
“You gotta know when to hold ‘em, know when to fold ‘em, know when to walk away, know when to run…” Kenny Rogers’ The Gambler, a song now enshrined in the Library of Congress’ National Recording Registry, is what I consider the soundtrack of business development. It has played over and over in my mind since his death earlier this year, inspiring contemplation about the right approach in negotiations. As it relates to business development deals in the biotech sector, one may think I am talking about upfronts, milestones, royalties, and extracting fair value. But so much of what makes a good or bad deal, in hindsight, lies beyond the headline financial terms. Experience has taught me that small things matter. I may be labeled persnickety or stubborn in a negotiation, but if you are willing to go into “the weeds” on deal terms, walking away can be the right decision if your concerns are not addressed. Conversely, successful partnerships, promote the business success of both parties down to the finest detail of an agreement.
By Pamela L. Esposito, CBO of Replimune, as part of the From The Trenches feature of LifeSciVC.
August continued to show the biotech market’s resilience in the face of the COVID pandemic with one of the biggest venture fund flows for the month ever, and a half a dozen IPOs. Kymera Therapeutics was one of those August IPOs, and as its co-founder I wanted to share a few reflections.