KymaThera has closed an $80 million Series B financing led by Alta Partners, with participation from Venrock, Foresite Capital, J. Wood Capital and other investors.
The San Diego biotechnology company plans to use the financing primarily to advance K-1728, its investigational oral pan-mutant selective PI3Kα inhibitor. KymaThera is developing the drug for PI3Kα-mutant cancers, including HR-positive, HER2-negative breast cancer, and PI3Kα-driven vascular malformations. Patient dosing in a Phase 1 study is expected to begin in the fourth quarter of 2026.
Founded in 2024, KymaThera lists Rob Kania, Jason M. Cox, Brooke Grandinetti and Shawn Ouyang as founders. The company develops small-molecule precision medicines using structure-based drug design, with K-1728 serving as its lead program.
The Series B follows a 2024 Series A co-led by Foresite Capital and Venrock. KymaThera said the latest financing brings its total capital raised to more than $100 million and is expected to support development through initial clinical proof-of-concept.
