Gilead exercised an option to license Kymera Therapeutics’ preclinical protein degrader KT-200, paying $45 million as the drugmaker builds out an oncology pipeline focused on targeted protein degradation. The deal gives Gilead global rights to the oral CDK2 “molecular glue” degrader and sets up development, regulatory and commercial milestones totaling up to $665 million. Kymera will complete its option exercise data package and development candidate selection, while Gilead plans to run IND-enabling studies with a goal of starting human testing next year. Kymera said KT-200 drives low-nanomolar degradation of CDK2 and is designed to be more selective than CDK2 inhibitors that target the kinase active site. Separately, C4 Therapeutics and Roche also signaled further momentum in targeted degradation modalities through a collaboration expanding work on antibody-drug conjugate and targeted protein degrader “degrader-antibody conjugate” designs.