Quick Summary:

Kymera Therapeutics has expanded its pipeline through two major deals: Gilead Sciences will pay up to $750 million for rights to Kymera’s oral molecular glue degrader targeting CDK2 in solid tumors, while Sanofi has opted to advance Kymera’s next-generation IRAK4 degrader in immune-mediated diseases. Both agreements deepen partnerships and boost Kymera’s presence in targeted protein degradation therapeutics.

  • Gilead’s deal with Kymera is valued up to $750 million, including an $85 million upfront payment.
  • Kymera will receive tiered royalties in the high single-digit to mid-teens range on product sales.
  • The Gilead-Kymera partnership centers on oral molecular glue degraders targeting CDK2 for solid tumors.
  • Sanofi is advancing development of Kymera’s oral IRAK4 degrader (KT-485) for immune-mediated diseases.
  • Kymera continues to lead research efforts on the partnered programs, with pharma partners retaining exclusive global development and commercialization rights upon option exercise.

The targeted protein degradation (TPD) sector witnessed a significant shift this week as both Gilead Sciences and Sanofi deepened their R&D and commercial stakes with Kymera Therapeutics through expanded license agreements. These agreements, valued at up to $750 million in the case of Gilead, underscore the surging executive and investor interest in license agreements that leverage the transformative promise of degraders, especially as the field rapidly matures from early innovation to later-stage clinical opportunity.

By executing a license agreement focused on Kymera’s first-in-class, oral molecular glue degrader targeting CDK2, Gilead signals a strategic commitment to broadening its oncology franchise. The asset, positioned for use in solid tumors such as breast cancer, intersects with Gilead’s existing oncology ambitions and offers the potential for truly differentiated best-in-class therapy. Meanwhile, Sanofi’s decision to advance Kymera’s IRAK4 degrader for immune-mediated diseases (KT-485) dovetails with its immunology portfolio expansion strategy and highlights the diverse applicability of Kymera’s TPD platform.

“Our highly specific, orally active, CDK2 molecular glue degraders have demonstrated a compelling preclinical profile and have the potential to transform the therapeutic landscape for breast cancer patients and other tumor types with high unmet medical need. We are excited to work with the talented Gilead team to accelerate the development and commercialization of this important program.”

– Nello Mainolfi, PhD, Founder, President & CEO, Kymera Therapeutics

License Agreements Fuel Degrader R&D Surge

The Kymera-Gilead and Kymera-Sanofi license agreements echo a broader industry trend: large pharma frequently leverages partnerships and license agreements to de-risk, accelerate, and expand access to next-generation modalities. In the last 24 months, similar deal-making has proliferated. AstraZeneca’s multibillion-dollar partnership with C4 Therapeutics to access C4’s targeted protein degraders in oncology and Amgen’s collaboration with Kyowa Kirin on protein degradation highlight the competitive urgency among global players to secure early rights to promising degrader technologies.

Moreover, Gilead’s up-to-$750 million commitment, including an $85 million upfront, ranks among the largest single-asset investments to date in the TPD field, rivaling Novartis’s deals in the PROTAC space. By structuring the deal with tiered royalties in the high single digits to mid-teens, Gilead aligns incentives for commercial success while giving Kymera operational control of research up to option exercise, now a common risk-sharing model for early-stage innovation.

Sanofi, for its part, is not new to the TPD field. Its 2020 collaboration with Kymera on IRAK4 has now been extended and deepened, reflecting confidence in the platform’s clinical momentum. Recent positive data from first-in-class oral STAT6 degraders in Th2-driven diseases show an expanding vista for TPDs beyond oncology, further validating the unique strategic value of Kymera’s pipeline to multiple pharma franchises.

As Gilead and Sanofi deepen their investments in Kymera’s pipeline, they reinforce the sector’s trajectory toward platform consolidation and set the stage for more expansive license agreements as TPDs edge closer to market reality. Pharma executives and R&D leaders should watch this space closely as license agreements continue to shape the future of precision medicines.