Nanobiotix inks US$56m deal
07.08.2012 - In a deal worth $56m, Nanobiotix S.A. has entered into an exclusive partnership with PharmaEngine, Inc. for the rapid development of NBTXR3, a novel cancer nanotherapeutic.
With the partnership the Paris-based developer of the nanoparticle cancer radiotherapy booster NBTXR3 will speed up the global clinical development of its compound that is currently tested in a Phase I pilot study as treatment for soft tissue sarcoma. PharmaEngine will add its Asia-based complementary clinical development strengths and will conduct further clinical studies.
Under the terms of the agreement, Taiwanese PharmaEngine will receive exclusive rights to develop and commercialize NBTXR3 in the Asian-Pacific region, including Australia, China, India, Japan, Korea, Taiwan and other countries, while Nanobiotix retains exclusive rights for the rest of the world. Nanobiotix retains an option to re-acquire the rights for the entire Asian-Pacific territory except for China and Taiwan, according to pre-defined conditions in exchange for termination payments and agreed-upon royalties.
Nanobiotix will receive an initial upfront payment of US$ 1 million and commercialisation milestone payments of up to US$56m plus tiered, double-digit royalties on net product sales in the Asian-Pacific region. PharmaEngine will further fund the clinical development of NBTXR3 in three different indications with the goal to commence clinical studies in two indications within the next 18 months. The parties have agreed to share the data to enable an efficient and focused global development in multiple indications.
NBTXR3 is a nanoparticle formulation of hafnium oxide crystals for the local treatment of tumours to enhance the efficacy of radiotherapy. In a mouse model NBTRX tripled the generation of free radicals, thus NanoXray particles could change the clinical outcome. Taipei-based PharmaEngine adopts the business model of “no research, development only” and focuses on the development of new drugs for the treatment of cancer and Asian prevalent diseases.