While the year may be winding down, there was still some big biotech news in Watertown in the last week. Read on to learn more, and as always, If you enjoy this publication consider supporting us.
Kymera’s Positive Clinical Trial Results Powered an Upsized Public Offering, and the FDA granted their lead compound a Fast Track designation.
Kymera Therapeutics, based at the Arsenal on the Charles, released positive results for their BroADen Phase 1B clinical trial of KT-621 for the treatment of atopic dermatitis (eczema). KT-621 is protein degrader, a new type of small molecule drug that uses the cell’s protein recycling mechanism to selectively remove disease causing proteins, in this case STAT6. The Trial results showed that KT-621 was well tolerated, and had positive clinical endpoints that either met or exceeded those of the current market leader Dupixent (dupilumab). Unlike dupilumab, which is an injection that requires trips to a healthcare provide or special training for administration, KT-621 is a pill that can be taken at home.
With the positive clinical trial results, Kymera’s stock jumped 42%, likely due to the potential for KT-621 to take a piece of Dupixent’s $13.4 billion in annual sales. The company followed this news with a $602 million dollar public offering, which when added to cash on hand from their Q3 quarterly filing , means Kymera now has around $1.5 billion in cash, with a runway that extends through 2028.
To close out the week, the FDA granted KT-621 a Fast Track Designation, which entitles the company to more frequent communication, and potentially accelerated approval and/or priority review. KT-621 is currently in a phase 2b trial for atopic dermatitis, with primary results estimated in mid 2027, and Kymera plans to initiate a phase 2b trial for asthma patients in Q1 2026
Of course Watertown is the 3rd largest biotech community in the Commonwealth, so Kymera is not the only company in town developing an orally available alternative to dupilumab. Enanta Pharmaceuticals, also headquartered at the Arsenal on the Charles, nominated their own orally available STAT6 inhibitor candidate, EPS-3903 last month.
EPS-3903 is a small molecule inhibitor that blocks STAT6 from doing its job, rather than removing the protein, like KT-621. Enanta aims to file an Investigatory New Drug (IND) application for EPS-3903 in Q1 2026, which would allow them to advance to clinical trials with EPS-3903.
Psithera Renames and Launches with a $47.5 million Series A
Psithera, headquartered at 66 Galen Street and formerly known as Psivant Therapeutics, launched this week with a $47.5 million Series A funding round, led by Samsara Biocapital and Lighstone Ventures. The company is developing a computational platform to model protein-protein interactions to design orally available therapeutics as an alternative to injectable biologics, continuing the theme seen with Kymera and Enanta’s efforts to develop an orally available alternative to dupilumab. According to the company, their first targets are in the Tumor Necrosis Factor family of proteins, with potential indications covering rheumatology and inflammatory bowel disease.
Quick Updates
Arrivals
Welcome to Foghorn Therapeutics, who have moved in at 99 Coolidge Ave after signing one of the largest 2025 Watertown lab leases this past summer. They develop therapies to treat cancers caused by mutations in chromatin remodeling complex proteins, which controls access to DNA for gene transcription.
Century Therapeutics, a Philadelphia based firm, will be moving their research lab from Fenway to 99 Coolidge Ave in Q1 of next year, according their Bio Safety Committee hearing. They are engineering induced pluripotent stem cells (iPSC) that avoid host rejection for use in cell therapies to treat autoimmune diseases and diabetes.
Departures
Empress Therapeutics may be winding down. Their website has changed to a landing page and only one member of the previously listed leadership team still lists an active affiliation with Empress on Linkedin, with the majority having moved on to new roles in Q2-Q3 this year. This comes as the company laid off half its work force back in March. The company initially moved to Watertown in April 2024 into the space of fellow Flagship company Sonata Therapeutics. Neither Empress nor their parent company Flagship Pioneering responded to a request for comments.
In the News
People
As part of their launch, Psithera named Eric Shaff as their CEO. Eric was previously the CEO of Seres Therapeutics in Cambridge.