Kymera Therapeutics' Underwriters Guided by WilmerHale in $288 Million Public Stock Sale
Kymera Therapeutics, a clinical-stage biopharmaceutical company, has successfully completed a public offering to raise funds for its operations. The offering, which was for the company's common stock and pre-funded warrants to purchase common stock, brought in approximately $288 million in gross proceeds.
The public offering consisted of 5,899,500 shares of common stock and pre-funded warrants. The underwriters had the option to purchase an additional 855,000 shares of common stock, and they exercised this option in full.
WilmerHale, a leading international law firm, represented the underwriters in Kymera Therapeutics' public offering. The key team members involved were partners Lisa Firenze and Brian A. Johnson, both based in New York.
Lisa Firenze and her team handled the legal aspects of the offering, while Bruce Manheim provided assistance on regulatory matters. Barish Ozdamar handled intellectual property matters for WilmerHale during the public offering.
Kymera Therapeutics advances a new class of small molecule medicines using targeted protein degradation (TPD). This innovative approach has the potential to revolutionise the treatment of various diseases.
The gross proceeds do not include underwriting discounts, commissions, and other offering-related expenses. The offering marks a significant milestone for Kymera Therapeutics as it continues its mission to develop novel therapies for patients in need.
The intellectual property aspect of Kymera Therapeutics' public offering was managed by Barish Ozdamar from the law firm WilmerHale. With the successful public offering, the biopharmaceutical company has secured financing from the science industry, which will aid in its health-and-wellness missions for medical-conditions, particularly in developing novel therapies using targeted protein degradation. The generated funds, totaling approximately $288 million, will be used for business operations, but do not include underwriting discounts, commissions, and other offering-related expenses.
