By Colin Kellaher 



  Kymera Therapeutics Inc. on Monday said it expects to sell 7.36 million shares at between $16 and $18 apiece in its planned initial public offering. 


  At the $17 midpoint of that range, the Watertown, Mass., biopharmaceutical company said it expects net proceeds of about $113.7 million, or roughly $131.1 million if the underwriters exercise an option to buy an additional 1.1 million shares. 


  Kymera, which is developing small-molecule therapeutics that degrade disease-causing proteins by harnessing the body's own natural protein-degradation system, said it will use the IPO proceeds to fund development efforts. 


  Kymera said Vertex Pharmaceuticals Inc., which currently owns a roughly 7.3% stake, has agreed to buy 498,419 shares in a concurrent private placement. 


  Kymera said it has applied to list its shares on the Nasdaq Global Market under the symbol KYMR. 


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