Nanobiotix secures up to $71 million in royalty financing
Nanobiotix announced a royalty financing agreement with HealthCare Royalty for up to $71 million. The non-dilutive capital extends the company's cash runway into early 2028, supporting long-term growth and development.
Late-stage clinical biotechnology firm Nanobiotix has entered into a royalty financing agreement with HealthCare Royalty (HCRx), securing up to $71 million in non-dilutive capital. This financing is expected to extend the company's cash runway into early 2028 and provide a stable financial foundation for advancing its nanotherapeutic platforms.
The agreement includes an upfront payment of $50 million, with a potential additional $21 million payable one year later, subject to certain conditions. HealthCare Royalty will receive a portion of future milestones and royalties related to Nanobiotix's product NBTXR3, with repayment capped at approximately $178 million depending on the repayment timeline.
NBTXR3, Nanobiotix's lead product candidate, is a novel oncology therapeutic composed of functionalized hafnium oxide nanoparticles. It is designed for a one-time intratumoral injection activated by radiotherapy, aiming to enhance tumor destruction and potentially trigger an immune response.
This funding allows Nanobiotix to advance its development programs, including key milestones for its head and neck cancer and lung cancer indications. The company anticipates achieving these milestones within its extended cash runway period.