On August 6, 2012 Nanobiotix S.A. reported that it has 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 (Press release, Nanobiotix, AUG 6, 2012, View Source [SID:1234507494]).
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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 paymentof US$ 1 million and is eligible for further development and commercialization milestone paymentswhich may amount to a total of US$ 56 million plus tiered, up to double-digit royalties on net product salesin 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 Nanobiotixin 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."