TAIPEI, Taiwan--(BUSINESS WIRE)--Aug 6, 2012--PharmaEngine, Inc. (TWO: 4162) announced today the execution of an exclusive license and collaboration agreement with France-based Nanobiotix S.A. for the development and commercialization of NBTXR3, currently being investigated in a phase I study with soft tissue sarcoma patients.
Nanobiotix is a leading nanomedicine company that intends to revolutionize radiotherapy, making it more deadly to tumors while preserving healthy tissues. NBTXR3 will play a seminal role in addressing a major unmet medical need to allow the creation of a huge and well-structured market within the existing standard of care. Approximately 50% of cancer patients receive radiotherapy.
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).” About NBTXR3 NBTXR3, the lead compound of the NanoXray pipeline, is a nanoparticle formulation of hafnium oxide crystals for the local treatment of tumors to enhance the efficacy of radiotherapy. NBTXR3 has been classified in the EU as class III medical device and is currently being tested in a European phase I trial to establish feasibility and safety of NBTXR3 in patients with soft tissue sarcoma. PharmaEngine will designate NBTXR3 as PEP503 in its development pipeline.CONTACT: PharmaEngine, Inc.
Peter Wu Telephone No.: (+886)-2-2515-8228, ext. 300 Mobile phone No.: (+886)-2-935-154-559 Email:firstname.lastname@example.org KEYWORD: EUROPE ASIA PACIFIC FRANCE TAIWAN INDUSTRY KEYWORD: HEALTH CLINICAL TRIALS MEDICAL DEVICES ONCOLOGY PHARMACEUTICAL RADIOLOGY SOURCE: PharmaEngine, Inc. Copyright Business Wire 2012 PUB: 08/06/2012 05:17 AM/DISC: 08/06/2012 05:17 AM http://www.businesswire.com/news/home/20120806005431/