Paris, France, 27 February, 2015 – NANOBIOTIX (Euronext: NANO – ISIN: FR0011341205) – a late clinical-stage nanomedicine company pioneering novel approaches for the local treatment of cancer, today announces its revenues for Q4 and the annual revenues for the year ended December 31, 2014.
Activity
Nanobiotix revenues for the fourth quarter of 2014 include the upfront payment (pro-rata share) from the Taiwan-based PharmaEngine within the framework of the licensing contract signed in August 2012. This covers the development and commercialization of NBTXR3 in the Asia-Pacific region. The upfront payment totaled €810,640, generating revenue of €46,351 over the period based on a straight-line method of apportioning the revenue across the period between the date the contract was signed and the scheduled marketing launch in the region.
The revenues for this period also include a milestone payment of $1.0m (€783,607) received in October 2014 pursuant to the contract with PharmaEngine, reflecting the fact that PharmaEngine will join Nanobiotix’ pivotal trial for NBTXR3 in Soft Tissue Sarcoma to accelerate its development in Asia-Pacific region. In accordance with the contract between Nanobiotix and PharmaEngine, Nanobiotix is eligible for development and commercialization milestone payments of up to $56.0m plus tiered, up to double-digit royalties on all net product sales in the Asia-Pacific region.
The invoicing of services totaled €2,379 for the quarter. In total, revenue for Q4 amounts to €832,337, totaling €972,908 for the year.
In November 2014, Nanobiotix secured financing from US investor, Capital Ventures International, through a private placement to further strengthen the Company’s financial position. CVI acquired 650,000 new shares with warrants attached for a total subscription amount of €10,393,500, (representing around 4.85% of the Company’s outstanding shares prior to the private placement), which may be supplemented by an amount of up to € 14,059,500 in case of exercise of all the warrants. Subject to certain conditions, the investor has also committed to purchase an additional tranche of up to €10 million that the Company may issue in its discretion.
The foregoing transactions are described in more detail in the press releases published by the Company at the time of their completion.
The rationale for this private placement was to provide Nanobiotix with funding to assist in the development of NBTRXR3, its main product, including to i) enable the Company to expand the indications and the geographical area for its lead product NBTXR3 ii) provide the financial visibility to drive a standalone strategy in US until reconsidering partnering options and iii) structure capital through a new US based shareholder.
2014 - A successful year of clinical progresses
Following the positive Phase I clinical study results for NBTXR3, presented at ASCO in June 2014, Nanobiotix received approval from the French National Security Agency for Medicines and Health Products (ANSM) to start a Phase II/III pivotal trial in soft tissue sarcoma (STS). This is the final step before registration (CE mark).
The Company expanded its clinical development program with new high potential indications in the US and Europe: liver cancers (primary and metastatic) and prostate cancer, in parallel with STS and head & neck trials already underway in Europe.
Click on the following link to download the 2014 review
Nanobiotix 2014 Review, 2015 Anticipated Milestones and Financial Calendar | nanobiotix
Next financial press release: revenue for the full year results of 2014 by 30 April, 2015
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Notes to Editors
About NANOBIOTIX: www.nanobiotix.com
Nanobiotix (Euronext: NANO / ISIN: FR0011341205) is a late clinical-stage nanomedicine company pioneering novel approaches for the local treatment of cancer. The company’s first-in-class, proprietary technology, NanoXray, enhances radiotherapy energy with a view to provide a new, more efficient treatment for cancer patients. NanoXray products are compatible with current radiotherapy treatments and are meant to treat potentially a wide variety of cancers including Soft Tissue Sarcoma, Head and Neck Cancer, Liver Cancers, Prostate Cancer, Breast Cancer, Glioblastoma, etc., via multiple routes of administration.
Nanobiotix’s lead product NBTXR3, based on NanoXray, is currently under clinical development for Soft Tissue Sarcoma and locally advanced Head and Neck Cancer. The company has partnered with PharmaEngine for clinical development and commercialization of NBTXR3 in Asia.
Nanobiotix is listed on the regulated market of Euronext in Paris (ISIN: FR0011341205, Euronext ticker: NANO,
Bloomberg: NANO: FP). The company, based in Paris, France, opened an affiliate office in the Boston area of the US in September 2014.
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