Paris, France and Cambridge, Massachusetts, USA, July 13, 2016 – NANOBIOTIX (Euronext: NANO – ISIN: FR0011341205), a late clinical-stage nanomedicine company pioneering novel approaches for the local treatment of cancer, today announces its unaudited revenue for the second quarter of 2016.
NANOBIOTIX’s revenue during the second quarter of 2016 corresponds to the upfront payment (pro-rata share) from Taiwan-based PharmaEngine. This is within the framework of the licensing contract signed in August 2012 for the development and commercialization of the lead NanoXray product, NBTXR3 in the Asia-Pacific region. The upfront payment amounted €810,640 and, as before, is distributed using the 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. This upfront payment generated revenue of €45,847 for the second quarter.
The revenue for this period also includes a milestone payment of $1.0m (€890,472) from PharmaEngine. This was triggered by the first patient undergoing treatment in Nanobiotix’ Soft Tissue Sarcoma (STS) pivotal phase at a hospital in the Asia-Pacific region. In accordance with the contract, 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 from PharmaEngine.
Total revenue for the second quarter was €936,319. This brings the revenue for the first half of 2016 to €982,166, which is fully in line with the Company’s expectations.
During the first quarter of 2016, Nanobiotix established preliminary preclinical proof-of-concept (POC) with the lead product, NBTXR3, for its new program in immuno-oncology (IO). Delivering the first promising data for the IO preclinical program showed that NBTXR3 might be used, not only to destroy tumors (as it is currently being clinically developed), but also to amplify the power of radiotherapy to create intratumoral vaccines for IO, enhancing the immunogenicity of the tumor.
On 14 June 2016, Nanobiotix announced having been notified by Capital Ventures International (CVI) of their exercise of warrants giving access to 50,000 ordinary shares of the Company, at an exercise price of EUR 17.87 per share (par value of EUR 0.03 each) representing a share capital increase of an aggregate amount of EUR 893,500.
Next financial press release: revenue for the first half of 2016 to be released on August 31, 2016
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 solid tumors including soft tissue sarcoma, head and neck cancers, 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, head and neck Cancer, prostate cancer, rectal cancer (PharmaEngine) and liver cancers (HCC and liver metastases). 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 Headquarter is based in Paris, France. Affiliate in Cambridge, United States.
Issued for and on behalf of Nanobiotix by Instinctif Partners.
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This press release contains certain forward-looking statements concerning Nanobiotix and its business. Such forward-looking statements are based on assumptions that Nanobiotix considers to be reasonable. However, there can be no assurance that the estimates contained in such forward-looking statements will be verified, which estimates are subject to numerous risks including the risks set forth in the reference document of Nanobiotix registered by the French Financial Markets Authority (Autorité des marchés financiers) on January 12, 2016 under number R.16-001 and the 2015 annual financial report of Nanobiotix (a copy of which is available on www.nanobiotix.com) and to the development of economic conditions, financial markets and the markets in which Nanobiotix operates. The forward-looking statements contained in this press release are also subject to risks not yet known to Nanobiotix or not currently considered material by Nanobiotix. The occurrence of all or part of such risks could cause actual results, financial conditions, performance or achievements of Nanobiotix to be materially different from such forward-looking statements.
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