Impacting Cancer

Nextech Invest, November 2020
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Dear Reader,

Last week, we celebrated recent accomplishments at our Annual Meeting in New York City. Thanks to all from our ecosystem who joined to make the day most engaging, especially our speakers: Robbie Huffines of JP Morgan, Norbert Bischofberger of Gilead and Kronos, Bradley Wolff of Citigroup and portfolio CEOs, John Houston of Arvinas, David Epstein of Black Diamond, Athena Countouriotis of Turning Point Therapeutics and Diego Miralles of Vividion. It was a fitting day to spend in the US finance hub, as the Peloton sale to Merck closed less than 12 hours before the meeting began, and IDEAYA priced its IPO the following day.

With kind regards,

Your Nextech Team

Merck & Co. acquires Peloton Therapeutics



It is our pleasure to announce that Peloton Therapeutics, in which Nextech Invest first invested in 2014, signed an agreement to be acquired by Merck & Co., Inc. (“Merck” with NYSE Ticker MRK) on May 20th 2019 for upfront proceeds of approximately USD 1.2 billion (including cash), and potential additional milestone payments of an additional 1.15 billion.

“Beginning in 2014, we have worked closely with Peloton management as they transformed from a pre-clinical company to launching pivotal clinical trials in kidney cancer and VHL disease. We are excited by the clinical proof-of-concept data achieved in kidney cancer as monotherapy and in combination with approved therapies as well as VHL disease,” said Thilo Schroeder. “We would like to congratulate the talented team at Peloton on this transaction. Merck is deliberately building their oncology platform and has significant resources in place to accelerate commercial launch and maximize the commercial success of Peloton’s scientific innovation to the benefit of numerous patients.”

“Merck’s $1.05 Billion Peloton Deal a Blueprint for Cancer Dealmaking: Buyout will be windfall for drugmaker’s venture backers, who were previously planning an IPO.” Wall Street Journal


Portfolio Finance Events

Initial Public Offering of Turning Point Therapeutics


Turning Point Therapeutics (Ticker: TPTX), closes IPO and full exercise of underwriter’s option to purchase additional shares raising USD 191 million. Press Release


Initial Public Offering of IDEAYA Biosciences

“Ideaya Biosciences (Ticker: IDYA), wraps USD 50 million IPO to fuel clinical drive on synthetic lethality” Endpoints News


Portfolio Additions

Nextech leads Vividion Therapeutics' Series B Financing


“Vividion reels in USD 82 million to push 3 lead programs towards the clinic” Fierce Biotech


Nextech co-leads Arrakis Therapeutics' Series B Financing together with venBio

“Arrakis Therapeutics Nabs USD 75 Million to Create a New Class of rSM Oncology Drugs” Biospace


Nextech joins Black Diamond Therapeutics' Series B Financing led by NEA

Black Diamond Therapeutics closes USD 85 Million Series B financing. Next-wave precision oncology company poised to advance multiple products into clinical development. Press Release


Nextech joins Peloton Therapeutics' Series E Crossover Round led by RA Capital


In addition to these three additions to the Fund V portfolio, Nextech also participated in Peloton Therapeutics’ February 2019 Series E financing on behalf of both Funds IV and V, bringing us to nine portfolio companies in the Fund V family. We are sad to see Peloton go so soon. It is such a thrill to work with teams translating ideas into compounds into drugs which transform the lives of patients in need. But we do believe it is a tremendous deal and that under Merck’s care, Peloton drugs will benefit more patients faster. And that is what this is all about.

Please feel free to contact us with any questions you may have.


Kura Oncology [Ticker: KURA] announced FDA clearance of investigational new drug application for Menin-MLL inhibitor KO-539.

Read the press release.

In addition, Kura Oncology reports clinical activity of Tipifarnib in subsets of pancreatic cancer associated with high CXCL12 expression.

Read the press release.


Arvinas [Ticker: ARVN] announced the initiation of patient dosing in its Phase 1 clinical trial of ARV-110, the company’s oral androgen receptor (AR)-targeted PROTAC™ protein degrader. The study will evaluate the safety, tolerability, and pharmacokinetics of ARV-110 in patients with metastatic castration-resistant prostate cancer (mCRPC) who have progressed on standard of care therapies. Arvinas believes ARV-110 is the first in a new class of targeted protein degraders to enter human clinical trials and anticipates preliminary data from the study in the second half of 2019.

Read the press release.

Two articles have been recently published on Nature on new therapeutics that harness cellular machinery to degrade targets, which are entering clinical trials, led by a PROTAC anticancer candidate developed by Arvinas. Read the published articles here and here.



Blueprint [Ticker: BPMC] announced accelerated regulatory drug submission plans and recent clinical progress.

Read the press release.

In addition, Blueprint Medicines will announce new data at ASCO and EHA meetings from the Registration-Enabling Clinical Trials of Avapritinib and BLU-667.

Read the press release.

Neon Therapeutics [Ticker: NTGN] presented new data from ongoing Phase 1b NT-001 clinical trial of personal neoantigen vaccine NEO-PV-01 at AACR 2019 Annual Meeting showing data from 23 patients with metastatic melanoma who received at least one dose of NEO-PV-01 and who either remained progression-free or had progressed by week 36 after the initiation of anti-PD-1 therapy.

Read the press release.

Chemistry shoots for the moon! Revolution Medicines' founders featured in Nature article. Read the published article here.

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