Nanobiotix boosted by amended deal with J&J

Shares of French late-stage clinical biotech firm Nanobiotix (Euronext: NAN) leapt 17.6% to 3.47 euros after it announced the execution of another disciplined step in its financial strategy through the amendment of its global licensing agreement with Johnson & Johnson (NYSE: JNJ) subsidiary Janssen entered into in 2023 to develop its radioenhancer NBTXR3.

Now code-named JNJ-1900, the drug is being evaluated in several studies across solid tumor indications including NANORAY-312, a global Phase III pivotal study evaluating the candidate for the treatment of patients with locally advanced head and neck cancer. JNJ-1900 is also being evaluated for its potential as a systemic agent in combination with anti-PD-1 immune checkpoint inhibitors for patients with metastatic cancers.

The amendment removes Nanobiotix’ funding obligation for NANORAY-312 and release J&J from select future potential milestone payments, while safeguarding Nanobiotix’ path to sustainable cashflow through significant potential milestone payments.