On May 20, 2026 NANOBIOTIX (Euronext: NANO – NASDAQ: NBTX – "Nanobiotix" or the "Company"), a late-clinical stage biotechnology company pioneering physics-based approaches to expand treatment possibilities for patients with cancer and other major diseases, reported the launch, subject to market and other conditions, of an approximately €75 million global follow-on offering (representing approximately $87 million) consisting of (i) a public offering of its American Depositary Shares ("ADSs"), each ADS representing one ordinary share, €0.03 nominal value per share (each an "Ordinary Share"), of the Company, in the United States (the "U.S. Offering") and (ii) an offering of (a) its Ordinary Shares and (b) pre-funded warrants to subscribe for Ordinary Shares (the "PFW"), exclusively addressed to "qualified investors" in Europe (including France) within the meaning of Article 2(e) of Regulation (EU) 2017/1129, as amended (the "Prospectus Regulation"), and certain other countries (excluding the United States and Canada) (the "International Offering"). The U.S. Offering and the International Offering are referred to, together, as the "Global Offering". The number of ADSs and Ordinary Shares issued in the Global Offering may be increased in the event of significant demand.

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Jefferies, TD Cowen and Stifel are acting as global coordinators and joint bookrunners for the Global Offering. The Global Offering would be subject to an underwriting agreement. The underwriting agreement would not constitute a performance guarantee (garantie de bonne fin) within the meaning of Article L. 225-145 of the French Commercial Code (Code de commerce).

In connection with the Global Offering, the Company intends to grant the underwriters for the Global Offering a 30-day option to purchase additional ADSs, in an amount of up to 15% of the total number of ADSs issued in the Global Offering, on the same terms and conditions, in accordance with delegation granted by the Company’s combined shareholders’ meeting held on May 19, 2025 (the "Shareholders’ Meeting") in its 36th resolution.

The Ordinary Shares (including in the form of ADSs) and the PFW to be issued in the Global Offering will be issued without preferential subscription rights for existing shareholders by way of a capital increase pursuant to the delegation granted by the Shareholders’ Meeting in its 29th resolution.

All securities to be issued in the Global Offering will be offered by the Company. The Company’s ADSs are listed on the Nasdaq Global Select Market under the ticker symbol "NBTX." The Company’s Ordinary Shares are listed on the regulated market of Euronext in Paris ("Euronext") under the symbol "NANO." The Company does not intend to list the PFW on any domestic or foreign securities exchange or nationally recognized trading system.

The final amount of the Global Offering, the offering price in the U.S. Offering in U.S. dollars and the offering price in the International Offering in euros, as well as the final number of ADSs, Ordinary Shares and PFW issued in the Global Offering will be determined following a book-building process commencing immediately. The Company will announce the results of the Global Offering as well as the number and subscription price of the Ordinary Shares, ADSs and PFW to be issued in the context of the Global Offering as soon as practicable after pricing thereof in a subsequent press release.

The number of securities issued in the Global Offering will be determined by the Company’s Executive Board in accordance with the delegations granted by the Shareholders’ Meeting, pursuant to its 29th and 39th resolutions.

The offering price of each Ordinary Share to be issued in the International Offering will be in euros and at least equal to the volume weighted average price of the Ordinary Shares on Euronext over the last three trading sessions preceding the pricing of the Global Offering (i.e., May 18, May 19 and May 20, 2026), subject to a maximum 15% discount. The offering price of each ADS in the U.S. Offering will be the U.S. dollars equivalent of the offering price per Ordinary Share in euros in the International Offering.

The subscription price of each PFW to subscribe for one Ordinary Share will be in euros and equal to the subscription price per Ordinary Share to be paid on the date of issue of the PFW, minus €0.03 to be paid on the date of exercise of the PFW.

Each PFW will allow its holder to subscribe to one Ordinary Share at a price of €0.03.

The PFW are exercisable in cash during a ten-year period from their date of issue.

The PFW are securities giving access to the capital within the meaning of Article L. 228-91 of the French Commercial Code. They will be issued in dematerialized form and held in pure registered form (au nominatif pur) in the securities account opened in the name of the holder thereof in the books of the Company’s account keeper.

No fractional shares shall be issuable upon the exercise of PFW, provided that the number of shares to be delivered in respect of any exercise of one or more PFW pursuant to any exercise notice shall be rounded down to the nearest whole multiple of one share.

If the Company carries out any of the transactions referred to in Articles L. 228-99 and L. 228-101 of the French Commercial Code, the rights of holders of the PFW will be maintained in accordance with said articles.

The PFW will not be admitted to trading on Euronext or on any domestic or foreign securities exchange or nationally recognized trading system. The shares issued upon the exercise of PFW (the "PFW Shares") will be held, at the option of the holder, in registered form (au nominatif) or in bearer form (au porteur). As soon as they are issued, the PFW Shares will be automatically assimilated to the Company’s ordinary shares and will be admitted to trading on Euronext under the same ISIN number.

The PFW holders will be grouped automatically for the defense of their common interests in a masse. The masse will act, in part, through a representative and, in part, through collective decisions of the holders.

Ordinary Shares (including those underlying ADS) issued in the Global Offering will be subject to an application for admission to trading on Euronext on the same trading line as the existing Ordinary Shares of the Company currently listed on Euronext, under the same ISIN code FR0011341205. The Global Offering will begin immediately following the publication of this press release and is expected to price before the U.S. markets open on May 21, 2026, subject to any early closing of the bookbuilding process. Following pricing of the offering in the United States, the trading of Nanobiotix’s Ordinary Shares on Euronext will be suspended on the immediately following trading day in Paris from the opening of Euronext until the opening of trading of Nanobiotix’s ADSs on the Nasdaq Global Select Market at approximately 3:30 pm (Paris time) / 9:30 a.m. (New York time) on such trading day, prior to which Nanobiotix will publish the allocation of share capital to be effective following settlement and delivery of the securities issued in the Global Offering.

The Company intends to use the net proceeds from the Global Offering as follows:

less than 10% to support the development and advancement of JNJ-1900 (NBTXR3);
between 50-60% to advance our Nanoprimer and other platforms; and
between 30-40% for general corporate purposes.
The expected use of proceeds represents the Company’s intentions based upon its current plans and business conditions. The Company cannot predict with certainty all of the particular uses for the net proceeds to be received upon the completion of the Global Offering or the amounts that the Company will actually spend on the uses set forth above. The amounts and timing of the Company’s actual expenditures and the extent of clinical development may vary significantly depending on numerous factors, including the progress of the development efforts, the status of and results from preclinical studies and any ongoing clinical trials or clinical trials the Company may commence in the future, as well as any collaborations that the Company may enter into with third parties for its product candidates and any unforeseen cash needs. As a result, the Company’s management will retain broad discretion over the allocation of the net proceeds.

In connection with the Global Offering, the Company’s executive board members and supervisory board members are subject to a contractual lock-up for a period of 90 days after the pricing of the Global Offering, subject to customary exceptions, including an exception for the purpose of financing the exercise price of stock options and/or satisfying any applicable taxes due in connection with such exercise. The Company has also agreed to be bound by a contractual lock-up for a period of 90 days after the pricing of the Global Offering, subject to customary exceptions.

A shelf registration statement on Form F-3 (including a prospectus) relating to the Company’s securities was filed with the Securities and Exchange Commission (the "SEC") on March 6, 2025 and subsequently declared effective on March 14, 2025. The Company will also file with the SEC a preliminary prospectus supplement (and accompanying prospectus) relating to and describing the terms of the Global Offering (the "Preliminary Prospectus Supplement"). Before purchasing ADSs, Ordinary Shares or PFW in the Global Offering, you should read the Preliminary Prospectus Supplement and the accompanying prospectus, together with the documents incorporated by reference therein. You may obtain these documents for free by visiting EDGAR on the SEC’s website at www.sec.gov. Alternatively, a copy of the Preliminary Prospectus Supplement (and accompanying prospectus) relating to the Global Offering may be obtained from Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, or by telephone at (877) 821-7388 or by email at [email protected]; from TD Securities (USA) LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by email at [email protected]; or from Stifel, Nicolaus & Company, Incorporated, Attention: Syndicate, One Montgomery Street, Suite 3700, San Francisco, CA 94104, by telephone at (415) 364-2720 or by email at [email protected].

Potential investors should carefully consider the risks described under "Risk Factors" in the Preliminary Prospectus Supplement, including the following risks:

shareholders not participating in the Global Offering may see their participation in the Company’s share capital diluted due to the issuance of new securities;
the volatility and liquidity of the Company’s Ordinary Shares and ADSs may experience significant fluctuation (mainly downwards), and there may be differences on Nasdaq and Euronext; and
sales of the Company’s Ordinary Shares and ADSs, in particular by its significant shareholders, could occur on the market and have an adverse impact on the Company’s trading prices.
In addition, the Company draws attention to the risk factors related to the Company and its activities presented in section 1.5 of the 2025 universal registration document filed with the French Financial Markets Authority (Autorité des Marchés Financiers – the "AMF") under number D.26-020 on March 31, 2026, which are available free of charge on the Company’s website at View Source, as well as on the AMF’s website at www.amf-france.org.

The new Ordinary Shares (including in the form of ADSs) to be issued in connection with the Global Offering will be the subject of an application for admission to trading on Euronext.

This transaction is not subject to the preparation of a prospectus requiring an approval by the AMF pursuant to the Prospectus Regulation, nor to the filing with the AMF of a document containing the information set out in Annex IX of the Prospectus Regulation.

(Press release, Nanobiotix, MAY 20, 2026, View Source [SID1234665907])

On May 20, 2026 Incyte (Nasdaq:INCY) and Genesis Molecular AI reported a significant expansion of their strategic collaboration building and deploying state-of-the-art AI to accelerate the discovery of novel molecules for collaboration targets selected by Incyte. The expanded agreement is among the first major pharma-AI collaborations to power large-scale foundation model training with a partner’s proprietary experimental data.

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Building on the companies’ initial collaboration announced in February 2025, the expanded agreement broadens the deployment of Genesis’ AI platform, GEMS (Genesis Exploration of Molecular Space) – which includes the leading foundation models for protein-ligand structure and property prediction – across a wider variety of challenging targets in Incyte’s portfolio. Incyte will also share proprietary experimental data with Genesis to enhance GEMS’ capabilities.

"This expanded collaboration reflects the strong results from our initial programs and Incyte’s commitment to applying advanced technologies to enhance our discovery engine and accelerate the development of differentiated small molecule medicines," said Pablo J. Cagnoni, M.D., President, Incyte and Global Head of R&D. "By combining our deep expertise in drug discovery and development and our significant experimental data with Genesis’ AI capabilities, we aim to more efficiently advance priority programs against high-value targets and ultimately bring important new medicines to patients."

"Our partnership with Incyte reflects the exciting synergy between our AI platform and Incyte’s deep expertise and capabilities in rapid experimental data generation and marks an important moment in the evolution of AI in this vertical," said Evan Feinberg, Ph.D., Founder and Chief Executive Officer of Genesis. "High-quality proprietary data is among the most valuable inputs for advancing molecular AI, and our expanded collaboration will enable both companies and patients to benefit from an industrial-scale flywheel of AI-enabled design-make-test cycles."

Terms of the Agreement

Genesis will receive total upfront consideration of $120 million, which includes an $80 million upfront cash payment and a $40 million purchase of equity in Genesis. In addition, Incyte will also provide recurring research funding to Genesis to support AI model training and inference compute workloads.

The companies will add at least five new collaboration targets selected by Incyte, and Incyte will have options to nominate additional collaboration targets over time. Incyte will have exclusive rights to develop and commercialize any collaboration products.

Genesis will be eligible to receive potential preclinical and clinical development, regulatory and sales milestone payments of up to $232 million for each program contingent on the achievement of agreed upon milestones. Genesis will be eligible to receive over $1 billion if all milestones are achieved across the five initial collaboration targets, including multiple indications and major territories, provided the aggregate peak annual net sales of the five products exceed specified milestones. Additional payments totaling several billion dollars could be earned depending on the number of additional collaboration targets nominated and the achievement of related milestones. Genesis is also eligible to receive royalties on sales of any approved collaboration products.

(Press release, Incyte, MAY 20, 2026, View Source [SID1234665906])

On May 20, 2026 Guardant Health, Inc. (Nasdaq: GH), a leading precision oncology company, reported that the U.S. Food and Drug Administration (FDA) has approved Guardant360 Liquid CDx, advancing blood-based comprehensive genomic testing by integrating genomic and epigenomic insights and helping clinicians make better-informed treatment selection decisions for patients with advanced cancer. Guardant360 Liquid CDx is the largest FDA-approved liquid biopsy panel, assessing a 100X wider genomic footprint than the previously approved Guardant360 CDx to deliver comprehensive tumor profiling results. The seven previously U.S. FDA-approved companion diagnostic indications for Guardant360 CDx transfer to the new test with the FDA approval of Guardant360 Liquid CDx.

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Guardant360 Liquid CDx is powered by Guardant’s Smart Platform, which unlocks new dimensions of tumor biology by integrating genomic and epigenomic profiling from a single blood draw, providing a several-fold increase in sensitivity for circulating tumor DNA (ctDNA) detection from the previous Guardant360 CDx test and revealing clinically actionable insights that genomics alone may miss.

"Precision oncology is only as strong as the information clinicians have at the moment they need to make a decision," said Helmy Eltoukhy, Guardant Health chairman and co-CEO. "With FDA approval of the new Guardant360 Liquid CDx, cancer care enters a new era: one where genomics, epigenomics, advanced AI, and learnings from more than one million patients tested converge to deliver a more complete, actionable view of cancer from just a blood draw. This approval moves us closer to a future where every physician has the right information at the right time to make the right decision."

Guardant360 Liquid CDx builds on Guardant’s leadership pioneering the first FDA-approved comprehensive liquid biopsy. Building on this track record, the test also is the first liquid biopsy to simultaneously define both the genotype and key phenotype information1, taking precision oncology to the next level. The updated test delivers fast results in as little as seven days, providing the information needed for clinical decisions regardless of tissue availability, line of therapy, or practice setting.

Guardant’s full product portfolio is now upgraded to its proprietary Smart Platform, an AI-enabled multiomic technology platform behind its next generation of cancer tests, supporting new clinical applications across the cancer care continuum from a single, scalable testing foundation.

(Press release, Guardant Health, MAY 20, 2026, View Source [SID1234665905])

On May 20, 2026 Acuitas Therapeutics, the global leader in lipid nanoparticle (LNP) delivery systems for the acceleration of partners’ clinical development, reported its participation at the American Society of Gene & Cell Therapy (ASGCT) (Free ASGCT Whitepaper) 2026 Annual Meeting. The company presented a suite of new research, highlighted by advancements in extrahepatic targeting for in vivo CAR T-cell therapy and new insights into LNP performance.

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"The research presented by Acuitas at ASGCT (Free ASGCT Whitepaper) 2026 showcases our holistic approach to pave the way for highly specific and re-dosable genetic medicines," commented Chief Scientific Officer Ying Tam, Ph.D. "From the successful in vivo engineering of CAR T cells to elucidation of the mechanisms behind RNA-lipid adducts, these data advance the industry standard in LNP delivery — a standard validated by the compelling data presented this week by partners who are relying on Acuitas’ LNP to power their own therapeutic breakthroughs."

In Vivo CAR T Cell Generation via CD8-Targeted LNP

A cornerstone of Acuitas’ ASGCT (Free ASGCT Whitepaper) presence was data on a novel targeted extended circulation LNP (ecLNP) developed to deliver CAR-encoding mRNA to CD8+ T cells. In collaboration with Athebio to incorporate Athebody designed ankyrin repeat proteins (DARPins) — engineered binding proteins used for cell-specific targeting — Acuitas demonstrated the ability to precisely target CD8+ T cells in vivo.

Key findings from the data include:

The ecLNP composition increased plasma half-life from 15 minutes to 2 hours in murine models. Additionally, with the addition of DARPins, the ecLNP formulation showed a 10-fold reduction in liver expression compared to standard LNP
In nonhuman primates (NHP), administration of ecLNPs encapsulating CD20 CAR mRNA resulted in CAR expression on more than 60% of circulating CD8+ T-cells
These CD8+ CAR T-cells led to the complete and sustained depletion of B cells not only in peripheral blood, but also in bone marrow and lymphoid tissues (spleen and lymph nodes) at doses as low as 0.25 mg/kg
Improving Product Quality by Understanding RNA-LNP Adduct Formation

Acuitas also shared critical data regarding the chemical stability of mRNA-LNP products as it relates to purity of the underlying ionizable lipid raw materials, specifically focusing on the mechanisms of RNA-lipid adduct formation. These adducts are undesired bonds formed between ionizable lipid impurities and mRNA, which inhibits translation and therefore protein levels. Often undetected by traditional mRNA purity assays, adduct formation can have significant detrimental impacts on the long-term stability and performance of LNP-delivered mRNA therapeutics.

"RNA-lipid adduct formation is an important issue affecting LNP-delivered therapies," said Dr. Chris Barbosa, Vice President of Technology Development at Acuitas. "Understanding the chemical drivers of RNA-lipid adduct formation and quantifying the impact on product performance through this study is an important step that allows us to control critical impurities and set targets for our approved lipid manufacturers. This ensures that our partners receive LNP delivery vehicles with the highest possible integrity and potency for clinical use."

Key insights from the study include:

Aldehydes as process impurities or degradation products of ionizable lipids are the main driver of RNA-lipid adduct formation. Acuitas has developed and implemented a wide array of analytical methods, including Ion-Pairing Reversed Phase (RP-IP) chromatography and Liquid Chromatography Mass Spectrometry (LCMS), to detect and measure adduct-forming impurities.
The presence of lipid adducts directly correlates with a decrease in protein expression. In murine models, a clear correlation was observed between increased adduct levels and decreased serum IgG expression. The presence of high levels of these aldehyde impurities and lipid adducts did not impact liver tolerability.
Adduct formation is highly dependent on time, temperature and the impurity profile of the specific lot of ionizable lipid used. Thorough screening of incoming raw materials for aldehyde content will help ensure the quality and efficacy of the final LNP drug product.
Deepening Insights into LNP-Immune System Interactions

Beyond targeting and LNP quality, Acuitas presented research aimed at improving the clinical safety profile of LNP-based medicines:

Human Whole Blood Assay to Identify Compounds to Mitigate Infusion-Related Reactions

To better understand infusion-related reactions, Acuitas developed an optimized whole blood assay to assess the contribution of LNP and mRNA to immune stimulation, possible mechanisms of immune stimulation, and to identify mitigating drugs that are more specific than steroids. Clinically relevant mitigating agents, such as baricitinib (a JAK1/2 inhibitor) and pegcetacoplan (a complement inhibitor), effectively dampened immune stimulation in high inflammatory response donors, potentially enabling long-term repeated dosing without the long-term effects of steroid use.

Decoding Inter-Animal Variability in NHP Models

To evaluate the significant inter-animal variability frequently observed in preclinical models, Acuitas analyzed the liver transcriptome of 20 NHPs following intravenous infusion of human IgG mRNA-LNP. While treatment resulted in a broad 18-fold potency distribution, this variability showed no correlation with body weight, liver transaminase elevations, or individual pharmacokinetic profiles. Differential upregulation of genes involved in immune modulation were identified, including FOSL1, CCL18 and DHRS9. Multiple factors influence individual pharmacodynamic responses to mRNA-LNP.

More information on the presentation and posters presented at the ASGCT (Free ASGCT Whitepaper) can be found here.

(Press release, Acuitas Therapeutics, MAY 20, 2026, View Source [SID1234665904])

On May 20, 2026 Sarah Cannon Research Institute (SCRI), one of the world’s leading oncology research organizations conducting community-based clinical trials, reported a strategic collaboration with Pfizer Inc. to advance the development of Pfizer’s oncology portfolio through a science‑driven and scaled research program designed to bring promising therapies to patients faster and closer to home.

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Central to the collaboration is SCRI’s Accelero, a next-generation clinical trial delivery model designed to accelerate oncology drug development and expand patient access to innovative therapies in the community setting. By leveraging Accelero in this collaboration, SCRI and Pfizer aim to streamline trial operations, enhance site efficiency, and reduce burden for investigators and care teams.

SCRI and Pfizer previously collaborated on three studies utilizing the Accelero model, which quickly expanded to more than ten, enabling faster study start-up, improved execution, and the efficient delivery of promising therapies to patients closer to home. Leading the field in study start-up and time to enrollment, SCRI has achieved a 47% reduction in study activation timelines, enrolling the first patients 57% faster through Accelero compared to historical performance.

"This collaboration reflects our shared commitment to advance novel oncology therapies by conducting community-based research with scientific rigor," said Dee Anna Smith, chief executive officer, SCRI. "By combining Pfizer’s innovation with SCRI’s integrated research infrastructure and broad U.S. patient access, we can execute trials more efficiently, accelerate enrollment, and bring better treatment options to patients faster."

SCRI physicians and clinical experts provide strategic guidance across Pfizer’s oncology portfolio using real-world data to inform study design, clinical strategy, and digitally enabled approaches to research execution. By engaging early in protocol development, SCRI ensures innovative approaches align with operational feasibility and support shared goals for speed, quality, enrollment, and patient access.

"Pfizer is focused on advancing breakthroughs that have the potential to change patients’ lives," said Kamran Ansari, head of clinical development & operations, Pfizer. "By partnering with SCRI and leveraging their expertise, we have the opportunity to enhance recruitment and make our oncology clinical studies more accessible in local communities, with the goal of accelerating access to potential new therapies for people with cancer."

(Press release, Sarah Cannon Research Institute, MAY 20, 2026, View Source [SID1234665903])