PARIS--()--French Nanobiotix S.A. announced today that it entered into a strategic partnership with PharmaEngine, Inc. for the rapid development of NBTXR3, the lead product from the NanoXray pipeline of Nanobiotix. Nanobiotix is a nanomedicine company developing novel cancer nanotherapeutics, while PharmaEngine is a specialty pharma company focused on the development of in-licensed oncology drugs.
The partnership aims to accelerate the global clinical development of NBTXR3 as PharmaEngine will add its Asia-based complementary clinical development strengths and will conduct further clinical studies.
Under the terms of the agreement, 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 is eligible for further development and commercialization milestone payments which may amount to a total of US$ 56 million plus tiered, up to 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. The clinical studies will be initiated according to an agreed upon time schedule and development plan with the goal to commence clinical studies in two indications within 18 months. The parties have agreed to share the data to enable an efficient and focused global development in multiple indications.
“With its proven clinical development expertise in Asia, PharmaEngine is an ideal partner to accelerate the development of NBTXR3,” said Laurent Levy, CEO of Nanobiotix. “The studies conducted by PharmaEngine in three different indications in Asia will add to the ongoing European Phase I study in soft tissue sarcoma and another Phase I study to be initiated by Nanobiotix in early 2013 – all of this will be closely coordinated between both companies to ensure a broad clinical development. We are happy that we were able to close this very attractive deal for an important and growing market that we address with our NanoXray platform.”
ABOUT NBTXR3
NBTXR3, the lead compound of Nanobiotix’s NanoXray product pipeline, is a nanoparticle formulation of hafnium oxide crystals for the local treatment of tumors to enhance the efficacy of radiotherapy. NBTXR3 has been classified in the EU as class III medical device and is currently being tested in a European Phase I trial to establish feasibility and safety of NBTXR3 in patients with soft tissue sarcoma. Preliminary data are expected by the end of 2012. Further clinical trials are in preparation in Europe and in the US, where NBTXR3 is classified as a drug.
ABOUT NANOBIOTIX – www.nanobiotix.com
Nanobiotix is a Paris, France, based nanomedicine company dedicated to the development of new cancer treatments. The company combines the advantages of nanotechnology and biotechnology. Nanobiotix is a spin-off of the State University of New York at Buffalo and was incorporated in 2003. It is funded by leading European venture capital firms (Matignon Investissement & Gestion, OTC Asset Management, Cap Decisif Management, Amorcage Rhone-Alpes, CM-CIC Capital Innovation and Masseran Gestion). With the development of several new compounds, Nanobiotix's objective is to enhance its leading position in the nanomedicine field.
ABOUT PharmaEngine – www.pharmaengine.com
PharmaEngine, Inc. is a biopharmaceutical company established in Taipei, Taiwan in 2003. 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. PharmaEngine has an ongoing phase III project (PEP02) for the treatment of metastatic pancreatic cancer. For further information, please visit the Company’s website at http://www.pharmaengine.com.