Nanobiotix jumps on J&J deal for cancer therapy development

Nanobiotix SA

10/07/2023 15:13

(Updates)
    ** U.S.-listed shares of France-based drug developer
Nanobiotix SA  NBTX.O  rise ~44% to $7.45
    ** Stock set for best one-day pct. rise in over two months,
if gains hold
    ** Co says it entered a global licensing, co-development,
and commercialization agreement with Johnson & Johnson  JNJ.N 
unit for its experimental cancer therapy
    ** 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 mln 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, says co
    ** Including session gains, U.S.-listed shares of NBTX more
than doubled YTD

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