Taiwan’s PharmaEngine signs Asia deal with VC-backed Nanobiotix

The product in question is known as NBTXR3 and forms part of Nanobiotix's NanoXray pipeline. In forming an alliance with Nanobiotix, PharmaEngine will conduct further clinical studies on the product, leveraging on its Asia-based clinical development strengths.

Nanobiotix, which is backed by VC firms Matignon Investissement & Gestion, OTC Asset Management, Cap Decisif Management, Amorcage Rhone-Alpes, CM-CIC Capital Innovation and Masseran Gestion, develops novel cancer nanotherapeutics, while PharmaEngine specializes in the development of in-licensed oncology drugs.

Under the terms of the agreement, PharmaEngine will receive exclusive rights to develop and commercialize NBTXR3 in the Asian-Pacific region, including Australia, China, India, Japan, Korea, Taiwan and other countries, while Nanobiotix will retain rights for the rest of the world. Nanobiotix retains an option to re-acquire the rights for Asia Pacific except China and Taiwan, in exchange for termination payments and agreed-upon royalties.

Nanobiotix will receive an initial upfront payment of $1 million and is eligible for further development and commercialization milestone payments which may amount to a total of $56 million. It may also be able to claim proceeds from net product sales in Asia Pacific.

CM-CIC Capital Innovation led a $11 million series-C round for Nanobiotix alongside Masseran Gestion in 2010. The funding was designed to enable it to continue developing its products through clinical studies.

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