Nanobiotix secures global licensing deal with Janssen for NBTXR3
Biotechnology firm Nanobiotix announced a global licensing, co-development, and commercialization agreement with Janssen for its NBTXR3 radioenhancer. The deal includes a significant upfront payment, bolstering the company's cash runway.
Paris and Cambridge, Mass. – Nanobiotix, a late-stage clinical biotechnology company, has signed a global licensing, co-development, and commercialization agreement with Janssen Pharmaceutica NV for its investigational radioenhancer NBTXR3.
The agreement provides Nanobiotix with an upfront payment of $30 million and a first equity tranche of $5 million, received after the second quarter of 2023. These payments are expected to extend the company's cash runway into the first quarter of 2024. The deal also includes potential future success-based payments of up to $1.8 billion and tiered double-digit royalties on net sales.
In addition to the commercial agreement, Nanobiotix has appointed Dr. Louis Kayitalire as its Chief Medical Officer (CMO). Dr. Kayitalire brings extensive experience in oncology drug development, which is expected to enhance the company's clinical oncology development and commercialization capabilities.
The company is advancing NBTXR3, designed to enhance the efficacy of radiotherapy in cancer patients. Nanobiotix anticipates releasing final Phase 1 safety and efficacy data for NBTXR3 in head and neck cancer and initial Phase 1 dose escalation safety data in pancreatic cancer in the coming weeks.
As of June 30, 2023, Nanobiotix reported cash and cash equivalents of €21.6 million. The company has also reached an agreement in principle with the European Investment Bank (EIB) to remove its cash covenant, subject to certain conditions, further strengthening its financial flexibility.