French Nanobiotix S.A. has entered into a strategic partnership with PharmaEngine, Inc. for the development of NBTXR3, its lead product from its NanoXray pipeline. PharmaEngine will use its Asia-based clinical development services to conduct further clinical studies.
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, in exchange for termination payments and agreed-upon royalties.
Nanobiotix will receive an initial upfront payment of $1 million and is eligible for development and commercialization milestone payments totaling of $56 million, plus royalties on sales in the Asian-Pacific region. PharmaEngine will also fund the clinical development of NBTXR3 in three different indications.
“With its proven clinical development expertise in Asia, PharmaEngine is an ideal partner to accelerate the development of NBTXR3,” said Laurent Levy, chief executive officer 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. 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.”