Oct. 5 Quick Takes: Nextech leads $78M round for Exo

With its new $78 million series B round, Exo Therapeutics Inc. will advance therapeutic candidates in oncology and inflammation, and pursue new targets using the company’s ExoSight platform. New investor Nextech Invest led the round, with participation from BVF Partners, Samsara Biocapital, Morningside Ventures, Casdin Capital, Newpath Partners, Novartis Venture Fund, CRV and 6 Dimensions Capital. Exo spun out of research by academics at the Salk Institute for Biological Studies and the Broad Institute of MIT and Harvard in 2020.

Zai Lab Ltd. (NASDAQ:ZLAB; HKEX:9688) said Tuesday it is aiming to submit a BLA in China around year-end for margetuximab to treat HER2-positive breast cancer after a Phase II bridging study met its primary endpoint. Combined with chemotherapy, the Fc-optimized mAb against HER2 showed a progression-free survival benefit compared with trastuzumab (HR=0.69) among 123 patients in Greater China. Zai said the efficacy and safety results are consistent with those from the Phase III SOPHIA study, which formed the basis of margetuximab’s full FDA approval as Margenza in a third-line setting. The therapy did not show an overall survival benefit in SOPHIA. MacroGenics Inc. (NASDAQ:MGNX) markets Margenza in the U.S.; Zai obtained local rights in 2018 for $25 million up front...