Published on August 6, 2012 at 7:21 AM
PharmaEngine, Inc. (TWO: 4162) announced today the execution of an
exclusive license and collaboration agreement with France-based
Nanobiotix S.A. for the development and commercialization of NBTXR3,
currently being investigated in a phase I study with soft tissue sarcoma
Nanobiotix is a leading nanomedicine company that intends to
revolutionize radiotherapy, making it more deadly to tumors while
preserving healthy tissues. NBTXR3 will play a seminal role in
addressing a major unmet medical need to allow the creation of a huge
and well-structured market within the existing standard of care.
Approximately 50% of cancer patients receive radiotherapy.
Under the terms of the agreement, PharmaEngine will receive the
exclusive rights to develop and commercialize NBTXR3 in Australia,
China, India, Japan, Korea, Taiwan and other countries in the
Asia-Pacific region. Nanobiotix will receive an upfront payment of US$1
million, and is eligible to receive up to a total of US$56 million upon
achievement of certain development, regulatory and sales milestones, as
well as tiered, up to double-digit royalties on net product sales of
NBTXR3 in the licensed territory. PharmaEngine will further fund the
clinical development of NBTXR3 in three different indications according
to an agreed upon time schedule and development plan.
"We are attracted by the innovative approach of NBTXR3 to overcome the
current limitations of radiotherapy, and the possibility of developing
it as a medical device which follows a faster development and regulatory
pathway than a drug," said C. Grace Yeh, Ph.D., President and Chief
Executive Officer of PharmaEngine. "We believe that by joining forces
with Nanobiotix, PharmaEngine can expand the clinical applications of
this project based on our successful experience with a nanoparticle
formulation of irinotecan (PEP02)."
Source: PharmaEngine, Inc.