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."