On April 30, 2019 NANOBIOTIX (Euronext: NANO – ISIN: FR0011341205 – the "Company"), a late clinical-stage nanomedicine company pioneering new approaches to the treatment of cancer, reported its unaudited revenue for the first quarter of 2019 (Press release, Nanobiotix, APR 30, 2019, View Source [SID1234535677]).
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Activity and results during the first quarter 2019
Revenue for the first quarter of 2019 amounted to €5K, generated by the crossed-charged to our partners of shared external contract research organization costs pursuant to our license and collaboration agreement.
The Company’s cash availability as of March 31, 2019 amounted to €40.9M. Additionally, during April 2019 the Company has raised approximately €30.5 in a placement of new shares as well as through the exercise of founders’ warrants (Bon de souscription de parts de créateur d’entreprise or BSPCE) by Laurent Levy.
Regarding clinical development, Nanobiotix and The University of Texas MD Anderson Cancer Center announced, in January 2019, a large-scale comprehensive clinical collaboration for first-in-class radioenhancer NBTXR3. The collaboration will initially support nine new Phase I/II clinical trials using NBTXR3 in treating six cancer types and will involve around 340 patients. A majority of the trials are expected to launch in 2019.
At the end of March, Nanobiotix also announced its clinical registration plan in Head and Neck cancers for the United States following US Food and Drug Administration (FDA) feedback. The Company plans to design an Overall Survival (OS)-based, randomized, event-driven Phase II/III clinical trial. 50% of patients will receive standard of care radiotherapy combined with NBTXR3 while the other 50% will receive radiotherapy in combination with cetuximab. The Company plans to initiate its global clinical trial authorization process with the US FDA in 2H2019.
Nanobiotix also received €14M in March 2019 through the second tranche disbursement of loan financing from the European Investment Bank (EIB). Nanobiotix’s financing arrangement with the EIB will enable Nanobiotix to accelerate both the development of NBTXR3’s clinical trial in Head and Neck cancers and support its European go-tomarket strategy