BRIEF—Nanobiotix buoyed by news of possible partnership

Nanobiotix stock has more than doubled after the firm announced it was entering into final contract negotiations with an undisclosed pharma major for development of NBTXR3.

The firm said a non-binding term sheet had been agreed with a “major global pharmaceutical company” for development and commercialization of its lead nanotherapeutic candidate.

NBTXR3 is a potentially first-in-class oncology product composed of functionalized hafnium oxide nanoparticles.

The therapy is administered via one-time injection into the tumor, and activated by radiotherapy. A novel mechanism of action induces tumor cell death and triggers an adaptive immune response.

NBTXR3 is being evaluated in locally advanced head and neck squamous cell carcinoma as the primary development pathway.