KymaThera has raised $80 million in Series B funding to advance K-1728, its next-generation pan-mutant selective PI3Kα inhibitor for cancer and vascular malformations.
Alta Partners led the financing, with participation from existing investors Venrock and Foresite Capital, new investor J. Wood Capital and others.
The financing follows KymaThera’s 2024 Series A, which was co-led by Foresite Capital and Venrock.
Including the new round, KymaThera has raised more than $100 million.
The proceeds will primarily support development of K-1728, an investigational oral therapy designed to selectively inhibit both kinase-domain and helical-domain PI3Kα mutations while sparing wild-type PI3Kα.
KymaThera is initially developing K-1728 as a monotherapy and in combination regimens for HR-positive/HER2-negative breast cancer.
The company is also developing the therapy as a monotherapy for PI3Kα-driven vascular malformations.
KymaThera expects to begin dosing patients in a Phase 1 clinical study during the fourth quarter of 2026.
The Series B is expected to fund development through initial clinical proof-of-concept.
In preclinical and IND-enabling studies, K-1728 demonstrated activity against both kinase and helical domain PI3Kα mutations.
The therapy produced tumor regressions at low once-daily doses in models containing both mutation classes.
KymaThera also reported a wide preclinical therapeutic window between exposures associated with deep tumor regressions and exposures associated with hyperglycemia.
K-1728 was discovered internally by KymaThera and is wholly owned by the company.
KymaThera designed the molecule using its proprietary structure-based drug discovery platform.
Beyond K-1728, the company is developing earlier-stage discovery programs targeting additional validated disease drivers.
KEY QUOTES:
“I invest in people, and KymaThera has assembled an outstanding team with deep experience in drug discovery and development. Drug development is hard, and great people find ways to solve hard problems. Rob and his team have the experience, scientific rigor and determination to take on an important challenge with K-1728, and I’m thrilled to support them as they advance the company and move the program into the clinic.”
Bob More, Partner at Alta Partners
“PI3Kα is one of the most important, well-validated, and heavily pursued disease drivers in oncology, but its therapeutic potential has been constrained by wild-type PI3Kα-mediated toxicity and incomplete coverage of clinically relevant mutations. Our drug design objective from the outset was to address these limitations. K-1728 possesses class-leading potency with helical mutant selectivity windows wider than any reported to date. This financing, backed by an exceptional syndicate of leading life sciences investors, gives us the resources to rapidly advance K-1728 into the clinic and pursue its potential across cancer and vascular malformations.”
Rob Kania, Ph.D., Chief Executive Officer of KymaThera
“When we made our Series A investment in KymaThera, we saw an experienced team with a rigorous scientific approach to building differentiated medicines against highly validated targets. K-1728, internally discovered and wholly owned by KymaThera, is an impressive result.”
Michael Rome, Ph.D., Managing Director at Foresite Capital
“What the team has accomplished in just two years has strengthened our conviction in both their approach and their ability to execute, and we are excited to continue supporting the company as it enters the clinic.”
Mariana Mihalusova, Ph.D., Partner at Venrock
