Nanobiotix, a nanomedicine company specializing in innovative cancer nanotherapeutics, and PharmaEngine, a pharma company developing in-licensed oncology drugs, have inked strategic collaboration to accelerate the development of NBTXR3, Nanobiotix’ key product from its NanoXray pipeline.
This partnership will leverage Asia-based clinical development expertise of PharmaEngine, which will perform clinical analyses for the rapid clinical development of NBTXR3. As per conditions of the deal, PharmaEngine will secure exclusive rights for the development and commercialization of NBTXR3 in Asia Pacific, while Nanobiotix will continue to hold exclusive rights for the remaining parts of the world. Nanobiotix holds an option to repurchase the rights for the whole Asian-Pacific region except for Taiwan and China, in accordance with pre-defined conditions in return for agreed-upon royalties and termination payments.
Nanobiotix will get $1 million initial upfront payment and is entitled for additional development and commercialization milestone payments totaling $56 million and double-digit royalties on net product sales in Asia Pacific. NBTXR3 clinical development will be further funded by PharmaEngine in three various indications. The clinical trials will be started in accordance with an agreed upon timeframe and development plan with objective to begin clinical trials in two indications within 18 months. Both companies have decided to share the information to facilitate an effective clinical development in multiple indications.
Nanobiotix’ Chief Executive Officer, Laurent Levy stated that the clinical studies performed in three different indications in Asia by PharmaEngine will support the ongoing European Phase I clinical trial in soft tissue sarcoma and an additional Phase I clinical trial to be started by Nanobiotix in the beginning of 2013.
Source: http://www.nanobiotix.com/