Nanobiotix jumps on J&J deal for cancer therapy development

Nanobiotix SA

10/07/2023 11:30

** U.S.-listed shares of France-based drug developer
Nanobiotix SA  NBTX.O  rise 51.5% to $7.85 premarket 
    ** Co says it entered a global licensing, co-development,
and commercialization agreement with Johnson & Johnson  JNJ.N 
unit for its experimental cancer therapy
    **  The deal gives JNJ access to NBTX's lead product
candidate, NBTXR3, being tested for treating a type of head and
neck cancer
     ** Under the deal, NBTX will receive an upfront cash
licensing fee of $30 million and is also eligible to receive
milestone payments of up to $1.8 bln- co 
    ** NBTX will have operational control over ongoing
late-stage study for NBTXR3, along with its manufacture,
clinical supply, and initial commercial supply- co  
    ** Up to last close, U.S.-listed shares of NBTX up ~41% YTD

 (Reporting by Mariam Sunny in Bengaluru)
 ((Mariam.ESunny@thomsonreuters.com;))