Nanobiotix and Pharmaengine end collaboration agreement
Biotechnology company Nanobiotix announced the mutual termination of its collaboration and license agreement with PharmaEngine concerning the development of NBTXR3 in the Asia-Pacific region.
Nanobiotix, a clinical-stage biotechnology company, announced on March 4, 2021, that it has reached a mutual agreement with PharmaEngine, Inc. to terminate their License and Collaboration agreement. The agreement, originally signed in August 2012, focused on the development of Nanobiotix's product candidate NBTXR3 in the Asia-Pacific region.
The termination stems from disagreements between the two parties regarding the optimal strategy for NBTXR3's development in the region. While both companies expressed belief in NBTXR3's potential to improve cancer treatment outcomes, differing views on development strategy led to the decision to discontinue the collaboration.
As part of the termination agreement, Nanobiotix will retain all rights to the development and commercialization of NBTXR3 in the Asia-Pacific region. PharmaEngine is set to receive payments not exceeding $5 million for administrative steps related to the collaboration's winding up. Further financial terms include a potential $7.5 million payment upon a second regulatory approval of NBTXR3 globally, subject to conditions if Nanobiotix enters into a new partnership for the Asia-Pacific region within six months.
Nanobiotix stated that retaining full rights to NBTXR3 opens new near- and long-term possibilities. The company will evaluate the inclusion of the Asia-Pacific region in its upcoming global Phase III registration trial for head and neck cancer.