Nanobiotix Amends Licensing Deal, Extends Cash Visibility to Mid-2026

Paris/Cambridge, MA – Nanobiotix announced an amendment to its global licensing agreement with Janssen Pharmaceutica NV, a Johnson & Johnson company, aimed at strengthening its financial position and extending its cash visibility to mid-2026.

The core of the amendment involves Janssen assuming nearly all remaining costs for the ongoing pivotal Phase 3 trial of NANORAY-312. Nanobiotix will cover only a small portion of these expenses. This shift is expected to significantly reduce Nanobiotix's operational cash burn, as the trial previously represented a substantial part of the company's operating costs.

The total potential value of the deal has been adjusted to approximately $2.6 billion, down from the previous $2.7 billion. Revisions to future milestone payments total $105 million. However, Nanobiotix remains eligible for substantial milestone payments related to its drug programs, particularly for head and neck cancer and non-small cell lung cancer treatments, with hundreds of millions in potential payments anticipated in the coming years.

Further terms include Nanobiotix's continued eligibility for up to $1.77 billion in development, regulatory, and sales milestones for initial programs, and an additional $650 million for five new indications developed by Janssen. Milestone payments for China and certain other Asian markets are also included.

Nanobiotix stated that the amended agreement extends its cash visibility to mid-2026 and that it is continuing to explore additional financing options, preferably non-dilutive, to extend its runway into 2027. The company will host a conference call on March 18, 2025, to discuss the amendment's details.