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TAIPEI – PharmaEngine, Inc. announced the execution of its exclusive license and collaboration agreement with France-based nanomedicine company Nanobiotix S.A. for the development and commercialization of NBTXR3, a nanoparticle drug for soft tissue sarcoma.
NBXTR3 is the lead compound of the NanoXray pipeline. It is a nanoparticle formulation of hafnium oxide crystals for the local treatment of tumors as an enhancement to the efficacy of radiotherapy. NBTXR3 has been classified by the European Union as a class III medical device and is currently being tested in a European phase I trial to establish its feasibility and safety.
Under the terms of the agreement, PharmaEngine will receive the exclusive rights to develop and commercialize NBTXR3 in Australia, China, India, Japan, Korea, Taiwan, and other countries in the Asia-Pacific region. Nanobiotix will receive an upfront payment of US$1 million, and is eligible to receive up to a total of US$56 million upon achievement of certain development, regulatory, and sales milestones, as well as, tiered, up to double-digit royalties on net product sales of NBTXR3 in the licensed territory. PharmaEngine will further fund the clinical development of NBTXR3 in three different indications, according to an agreed upon time schedule and development plan.
“We are attracted by the innovative approach of NBTXR3 to overcome the current limitations of radiotherapy, and the possibility of developing it as a medical device which follows a faster development and regulatory pathway than a drug,” said C. Grace Yeh, Ph.D., President and Chief Executive Officer of PharmaEngine. “We believe that by joining forces with Nanobiotix, PharmaEngine can expand the clinical applications of this project based on our successful experience with a nanoparticle formulation of irinotecan (PEP02).”
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