The protein degradation drug developer's valuation has rocketed following an offering that achieved exits for Vertex Pharmaceuticals, Pfizer, Sanofi, Amgen and Merck & Co.
Kymera Therapeutics, a US-based small molecule drug developer backed by pharmaceutical firms Pfizer, Sanofi, Merck & Co, Amgen and Vertex Pharmaceuticals, went public on Friday, raising nearly $174m in an initial public offering.
The company increased the number of shares in the offering from 7.4 million to more than 8.68 million and priced them at $20.00 each, above the $16 to $18 range it had set.
Vertex Pharmaceuticals bought approximately $11.8m of shares in the IPO. Kymera’s shares opened…
