Kymera Therapeutics Stifel 2026 Virtual Immunology and Inflammation Forum

Nello, over to you. First, good morning, everybody.

Alex, thanks for the invitation. Kymera, founded 10 years ago with the goal of advancing a whole new class of medicines using Targeted Protein Degradation, which is a small molecule-based modality that allows us and others to completely, if necessary, remove disease-causing protein from their intracellular localization. We have spent the past decade optimizing few areas of the company. Target selection, what are the right targets for protein degradation? What are the right diseases? What are the right molecules? And how do we both identify first and then develop these small molecules that specifically and selectively degrade disease-causing protein? We spent the past six years focused almost solely in immunology, and we built a wholly owned pipeline of first-in-class programs. We have a STAT6 degrader in a couple of phase IIb studies with one of them reading out actually quite soon.

We have another first-in-class program, IRF5, for which we'll share phase I data also soon. These are both transcription factors traditionally undrugged. Then we have a couple of actually high impact partnerships with Sanofi and Gilead that obviously we can talk about if there is time.

Yeah. As you know, Alex, you've followed the company for a while. We're very passionate about what we do. Obviously, that's often not enough to move timelines like this. I would say that there are four key reasons. One, patients are exceptionally interested in oral molecules for type 2 diseases. We're seeing in both AD and asthma. Because these advanced systemic therapies have really low penetration in AD, about 5% in the whole moderate to severe patient population in the U.S. So that's patients really want an oral medicine. Two, investigators, I think globally we can say, I think there is a high level of interest and comfort with this mechanism. It's in a pathway that is very well understood and studied of well-characterized safety and efficacy, and expectation that a drug like ours could potentially deliver that type of interesting safety and efficacy profile.

That obviously makes our life easier if investigators are excited about this program.

Third, I would say that we generated some really exciting data, as you know. Both pre-clinical and early clinical. Then fourth, we as a team really did everything we could to be really all over the world meeting and presenting Kymera at both medical meeting, investigator meetings, at sites, so that everybody understood how serious and how committed and passionate we are Yeah about this program.

Yeah. I would say that the trial enrollment has moved fast despite all the measures that we put in place. In fact, the goal was never speed for us. Obviously, speed is important, but our goal has always been quality over speed, and never compromise quality for speed. That makes actually the pace of enrollment much more impactful. So what we wanted to do is ensure that we would get as high quality data set as possible. Obviously, we can't control efficacy Yeah and safety, but we can control the integrity of the study.

So we wanted to make sure patients on our study had the right diagnosis and the right severity. We wanted to make sure our CROs and our sites had the right level of oversight on the patient flow and quality. Patients also, how stable they were on their emollients and/or prior therapies was something we spent a lot of time on. So we had put all these measures in place, some of which I don't think any other biotech has done before, ahead of starting the study. And actually, we thought that it would negatively impact the enrollment.

So I would say that we moved quickly despite the measures and not that we moved quickly because we wanted to just move quickly.

Yeah. Maybe I'll touch high level, and I'll pass it to Terence. So high level, we are committed to the pediatrics population because it's actually a key target population for drugs in type 2 diseases. That's the main reason. But I'll let Terence speak to maybe your answer more specifically to your question.