Nanobiotix gains on agreement with J&J unit for cancer drug

Nanobiotix SA

18/07/2023 14:51

** U.S.-listed shares of drug developer Nanobiotix SA
 NBTX.O  rise ~7% to $7.11 in early trading    
    ** Co announces licensing, co-development and
commercialization agreement with Johnson & Johnson's  JNJ.N 
unit Janssen for experimental cancer drug NBTXR3
    ** Nanobiotix to receive near term cash and operational
support valued up to $60 mln, including an upfront cash
licensing fee of $30 mln from JNJ - co
    ** NBTX is eligible for certain milestone-based payments of
up to $1.8 bln - co 
    ** NBTXR3 is currently being tested in several studies
across solid tumor indications, including a late-stage trial for
treatment of patients with a type of head and neck cancer 
    ** As of last close, NBTX shares were up ~81% this year 

 (Reporting by Raghav Mahobe)
 ((Raghav.Mahobe@thomsonreuters.com;))