{"id":52424,"date":"2023-08-24T08:40:25","date_gmt":"2023-08-24T12:40:25","guid":{"rendered":"https:\/\/ifintechworld.com\/news\/nanobiotix-french-radiation-enhancer-developer-with-a-major-jnj-deal-nasdaqnbtx\/"},"modified":"2023-08-24T08:40:30","modified_gmt":"2023-08-24T12:40:30","slug":"nanobiotix-french-radiation-enhancer-developer-with-a-major-jnj-deal-nasdaqnbtx","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=52424","title":{"rendered":"Nanobiotix: French Radiation Enhancer Developer With A Major JNJ Deal (NASDAQ:NBTX)"},"content":{"rendered":"
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Nanobiotix (NASDAQ:NBTX<\/span>) is a clinical stage French company developing cancer treatments that use proprietary nanotechnology. Lead asset NBTXR3 is a radioenhancer, a “suspension of metabolically inert nano-sized particles for intratumoral injection,” being evaluated both as a single agent activated by radiotherapy alone, and as a combination product with other anti-cancer therapies including chemotherapy and immune checkpoint inhibitors.<\/span><\/p>\n

Here’s the pipeline:<\/p>\n

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NBTX PIPELINE (NBTX WEBSITE)<\/p>\n<\/figcaption><\/figure>\n<\/p>\n

As you can see, NBTXR3 is the only asset, but it is like a platform of sorts. It is being used in various combinations. In non-metastatic HNC, it is used in combination with cetuximab in a phase 3 trial (which will have interim phase 3 data in 2H 2023), and it is also used in the same indication as a single agent in a phase 1 trial (final data mid-2023). NBTXR3 is also used in combination with an anti-PD-1 agent in recurrent and\/or metastatic HNSCC, which had an FDA protocol submission in Q1; and there’s one more phase 1 trial. There is also a completed trial in various solid tumors, and an ongoing study by MD Anderson Cancer Center.<\/span><\/p>\n

NBTX had a licensing deal with LianBio in certain territories including China. In July, the company signed a major deal with Janssen, whereby it is giving JNJ global licensing, co-development, and commercialization rights, under the following payment terms:<\/p>\n

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Nanobiotix will receive near term cash and operational support valued up to $60 million. This includes an upfront cash licensing fee of $30 million, and in-kind regulatory and development support for study NANORAY-312 valued at up to $30 million that Janssen may provide at its sole discretion. Nanobiotix will maintain operational control of NANORAY-312 and all other currently ongoing studies, along with NBTXR3 manufacture, clinical supply, and initial commercial supply. Janssen will be fully responsible for an initial Phase 2 study evaluating NBTXR3 for patients with stage three lung cancer and will have the right to assume control of studies currently led by Nanobiotix.<\/p>\n

Nanobiotix is eligible for success-based payments of up to $1.8 billion, in the aggregate, relating to potential development, regulatory, and sales milestones. Moreover, the agreement includes a framework for additional success-based potential development and regulatory milestone payments of up to $650 million, in the aggregate, for five new indications that may be developed by Janssen at its sole discretion; and of up to $220 million, in the aggregate, per indication that may be developed by Nanobiotix in alignment with Janssen.<\/p>\n

Following commercialization, Nanobiotix will also receive tiered double-digit royalties on net sales of NBTXR3.<\/p>\n<\/blockquote>\n

Thus, what this means is that NBTX is effectively sharing NBTXR3 for $30mn in upfront payment and a huge promise valued at over $2bn. They are giving it to a big pharma arm known for its R&D prowess. The deal tells me that JNJ thinks RBTXR3 is worth a lot of money if it can fulfill its promise. I think this is a good deal. The company has an “extraordinary” shareholder meeting on Sept 1 to discuss equity shares they will issue to JNJ for another $30mn in equity stake JNJ will assume as part of the deal.<\/p>\n

In a phase 1b trial in rectal cancer, RBTXR3 showed positive data, as follows:<\/p>\n