By Colin Kellaher

Kymera Therapeutics said Sanofi has pulled the plug on the most advanced drug candidate in the companies' partnership aimed at immune-inflammatory diseases but plans to advance a second candidate into clinical studies.

Kymera on Wednesday said Sanofi won't advance KT-474, which in late 2023 entered Phase 2 studies trials in patients with the inflammatory skin diseases hidradenitis suppurativa and atopic dermatitis.

The Watertown, Mass., clinical-stage biotechnology company, said the collaboration will now prioritize KT-485, which Sanofi expects to advance into Phase 1 testing next year.

Kymera said it achieved a $20 million milestone in the second quarter related to preclinical activities associated with KT-485, and that it is eligible to receive up to $975 million of potential clinical, regulatory and commercial milestones related to the drug.

Kymera unveiled its collaboration with France's Sanofi in 2020. At the time, the company received a $150 million upfront payment and said it was eligible for more than $2 billion in potential milestone payments.

Shares of Kymera, which separately on Wednesday announced a cancer-drug option and licensing agreement with Gilead Sciences, were recently down 4.6% in premarket trading.

Write to Colin Kellaher at colin.kellaher@wsj.com

(END) Dow Jones Newswires

June 25, 2025 08:46 ET (12:46 GMT)

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