<?xml version="1.0" encoding="UTF-8"?><edgarSubmission xmlns="http://www.sec.gov/edgar/schedule13g" xmlns:xsd="http://www.w3.org/2001/XMLSchema" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance">
  <schemaVersion>X0202</schemaVersion>
<headerData>
    <submissionType>SCHEDULE 13G</submissionType>
    <filerInfo>
      <filer>
        <filerCredentials>
          <cik>0001283718</cik>
          <ccc>XXXXXXXX</ccc>
        </filerCredentials>
      </filer>
      <liveTestFlag>LIVE</liveTestFlag>



    </filerInfo>
  </headerData>
  <formData>
    <coverPageHeader>
      <securitiesClassTitle>Common Stock, $0.00001 par value per share</securitiesClassTitle>
      <eventDateRequiresFilingThisStatement>06/30/2026</eventDateRequiresFilingThisStatement>
      <issuerInfo>
        <issuerCik>0002096997</issuerCik>
        <issuerName>Kailera Therapeutics, Inc.</issuerName>
        <issuerCusips>
          <issuerCusipNumber>482931102</issuerCusipNumber>
        </issuerCusips>
        <issuerPrincipalExecutiveOfficeAddress>
          <street1 xmlns="http://www.sec.gov/edgar/common">180 Third Avenue, 4th Floor</street1>
          <city xmlns="http://www.sec.gov/edgar/common">Waltham</city>
          <stateOrCountry xmlns="http://www.sec.gov/edgar/common">MA</stateOrCountry>
          <zipCode xmlns="http://www.sec.gov/edgar/common">02451</zipCode>
        </issuerPrincipalExecutiveOfficeAddress>
      </issuerInfo>
      <designateRulesPursuantThisScheduleFiled>
        <designateRulePursuantThisScheduleFiled>Rule 13d-1(d)</designateRulePursuantThisScheduleFiled>
      </designateRulesPursuantThisScheduleFiled>
    </coverPageHeader>
    <coverPageHeaderReportingPersonDetails>


      <reportingPersonName>CPP Investment Board Private Holdings (4) Inc.</reportingPersonName>
      <citizenshipOrOrganization>Z4</citizenshipOrOrganization>
      <reportingPersonBeneficiallyOwnedNumberOfShares>
        <soleVotingPower>0</soleVotingPower>
        <sharedVotingPower>7304688</sharedVotingPower>
        <soleDispositivePower>0</soleDispositivePower>
        <sharedDispositivePower>7304688</sharedDispositivePower>
      </reportingPersonBeneficiallyOwnedNumberOfShares>
      <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>7304688</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
      <aggregateAmountExcludesCertainSharesFlag>N</aggregateAmountExcludesCertainSharesFlag>
      <classPercent>5.6</classPercent>
      <typeOfReportingPerson>CO</typeOfReportingPerson>
      <comments>Item 11 is calculated based on a total of 129,565,608 shares of common stock of the issuer outstanding as of May 20, 2026, as disclosed in the issuer's Form 10-Q filed with the SEC on May 26, 2026.

Shares reported on this Schedule 13G are held directly by CPP Investment Board Private Holdings (4) Inc., a wholly-owned subsidiary of Canada Pension Plan Investment Board.</comments>
    </coverPageHeaderReportingPersonDetails>
    <coverPageHeaderReportingPersonDetails>


      <reportingPersonName>Canada Pension Plan Investment Board</reportingPersonName>
      <citizenshipOrOrganization>Z4</citizenshipOrOrganization>
      <reportingPersonBeneficiallyOwnedNumberOfShares>
        <soleVotingPower>0</soleVotingPower>
        <sharedVotingPower>7304688</sharedVotingPower>
        <soleDispositivePower>0</soleDispositivePower>
        <sharedDispositivePower>7304688</sharedDispositivePower>
      </reportingPersonBeneficiallyOwnedNumberOfShares>
      <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>7304688</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
      <aggregateAmountExcludesCertainSharesFlag>N</aggregateAmountExcludesCertainSharesFlag>
      <classPercent>5.6</classPercent>
      <typeOfReportingPerson>FI</typeOfReportingPerson>
      <comments>Item 11 is calculated based on a total of 129,565,608 shares of common stock of the issuer outstanding as of May 20, 2026, as disclosed in the issuer's Form 10-Q filed with the SEC on May 26, 2026.

Shares reported on this Schedule 13G are held directly by CPP Investment Board Private Holdings (4) Inc., a wholly-owned subsidiary of Canada Pension Plan Investment Board.</comments>
    </coverPageHeaderReportingPersonDetails>
    <items>
      <item1>
        <issuerName>Kailera Therapeutics, Inc.</issuerName>
        <issuerPrincipalExecutiveOfficeAddress>180 Third Avenue, 4th Floor Waltham, MA 02451</issuerPrincipalExecutiveOfficeAddress>
      </item1>
      <item2>
        <filingPersonName>Each of the following is hereinafter individually referred to as a "Reporting Person" and collectively as the "Reporting Persons." This statement is filed on behalf of:

Canada Pension Plan Investment Board
CPP Investment Board Private Holdings (4) Inc.</filingPersonName>
        <principalBusinessOfficeOrResidenceAddress>The principal business address of each of the Reporting Persons is as follows:

One Queen Street East
Suite 2500
Toronto, Ontario
M5C 2W5
Canada</principalBusinessOfficeOrResidenceAddress>
        <citizenship>Each of the Reporting Persons is organized under the laws of Canada.</citizenship>
      </item2>
      <item3>
        <notApplicableFlag>Y</notApplicableFlag>
      </item3>
      <item4>
        <amountBeneficiallyOwned>See Item 9 on the cover pages.

The securities reported herein are directly held by CPP Investment Board Private Holdings (4) Inc., a wholly-owned subsidiary of Canada Pension Plan Investment Board. As such, the Reporting Persons may be deemed to have shared voting power and dispositive power with respect to such securities.</amountBeneficiallyOwned>
        <classPercent>See Item 11 on the cover pages. </classPercent>
        <numberOfSharesPersonHas>
          <solePowerOrDirectToVote>See Item 5 on the cover pages. </solePowerOrDirectToVote>
          <sharedPowerOrDirectToVote>See Item 6 on the cover pages. </sharedPowerOrDirectToVote>
          <solePowerOrDirectToDispose>See Item 7 on the cover pages. </solePowerOrDirectToDispose>
          <sharedPowerOrDirectToDispose>See Item 8 on the cover pages. </sharedPowerOrDirectToDispose>
        </numberOfSharesPersonHas>
      </item4>
      <item5>
        <notApplicableFlag>Y</notApplicableFlag>
      </item5>
      <item6>
        <notApplicableFlag>Y</notApplicableFlag>
      </item6>
      <item7>
        <notApplicableFlag>Y</notApplicableFlag>
      </item7>
      <item8>
        <notApplicableFlag>Y</notApplicableFlag>
      </item8>
      <item9>
        <notApplicableFlag>Y</notApplicableFlag>
      </item9>
      <item10>
        <notApplicableFlag>Y</notApplicableFlag>
      </item10>
    </items>
    <exhibitInfo>99.1 Power of Attorney of Canada Pension Plan Investment Board
99.2 Joint Filing Agreement</exhibitInfo>
    <signatureInformation>
      <reportingPersonName>CPP Investment Board Private Holdings (4) Inc.</reportingPersonName>
      <signatureDetails>
        <signature>/s/ Pierre Abinakle</signature>
        <title>Vice President</title>
        <date>08/14/2026</date>
      </signatureDetails>
    </signatureInformation>
    <signatureInformation>
      <reportingPersonName>Canada Pension Plan Investment Board</reportingPersonName>
      <signatureDetails>
        <signature>/s/ Howard Rusak</signature>
        <title>Managing Director, Legal</title>
        <date>08/14/2026</date>
      </signatureDetails>
    </signatureInformation>
    <signatureComments>See Exhibit 99.1 Power of Attorney of Canada Pension Plan Investment Board</signatureComments>
  </formData>

</edgarSubmission>
