(CercleFinance.com) – The title Nanobiotix soars this Friday on the Paris Stock Exchange following information that the company is in talks with a ‘world leader in the pharmaceutical industry’ concerning the development and commercialization of its main drug candidate.
The action showed around 11:15 am a jump of more than 80%, which led Euronext to reserve the title on the rise.
The ‘biotech’ says it has entered, after an extensive period of discussions, into ‘final contractual negotiation’ with a potential partner following the signing of an agreement on a non-binding letter of intent around NBTXR3 .
The biotechnology company specifies that the agreement in question remains subject, among other things, to the negotiation of a definitive contract and to the obtaining of the authorizations required internally by each of the two parties.
Nanobiotix adds that it does not intend to communicate further on the negotiations in question, except in the event that it considers it appropriate to do so or that a definitive agreement is signed.
NBTXR3 is a new oncology product composed of nanoparticles, potentially the first in its class, which is administered by single intratumor injection and activated by radiotherapy.
Its mechanism of action is to induce the death of tumor cells in the injected tumor when activated by radiation therapy, subsequently triggering an adaptive immune response and anticancer long-term memory.
NBTXR3 is being evaluated in head and neck squamous cell carcinoma (HNSCC): after a Phase 1 trial that showed favorable safety data and early signs of efficacy, a Phase 3 study has started last year.
In February 2020, the United States Food and Drug Administration had granted the regulatory designation ‘fast track’, which facilitates the development of the molecule and a simplified regulatory review.
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