Nanobiotix (EPA:NANO) Uses Nano to Improve Radiotherapy
In previous articles, we discussed companies such as Bind Therapeutics and pSivida that are using nanotechnology to improve the effectiveness of drug delivery. Drug delivery is just one of many applications nanotechnology has in the area of biosciences. One company looking to improve the common cancer treatment of radiotherapy using nanotechnology is Nanobiotix.
Founded in 2003, France-based Nanobiotix (EPA:NANO) is a spin-off of the State University of New York (SUNY) at Buffalo and has around 30 employees currently. The company has been primarily funded by leading European venture capital firms to the amount of $14.6 million according to Crunchbase. On October 6, 2012, Nanobiotix raised $19.5 million on the regulated market of NYSE Euronext in Paris with an IPO that oversubscribed more than twice. Since the IPO, the share price has lost around 12% giving the company a current market cap of just around $82 million. The company is generating small but consistent revenues mainly from a licensing contract signed with PharmaEngine, a Taiwan-based biopharmaceutical company:
Radiotherapy is simply described as the use of high energy rays to destroy cancer cells and is one of the major local treatments for cancer with 50-60% of cancer patients receiving radiotherapy. Nanobiotix has developed nanoparticles that interact with X-rays and maximize the effect of radiotherapy within tumor cells. These nanoparticles are marketed as “NanoXray products” which enhance the radiotherapy efficacy in the tumor without increasing healthy tissues damages and are made from inert materials which produce an effect only when exposed to radiotherapy. Nanobiotix offers three NanoXray products, each with a different method of delivery for these novel nanoparticles:
In June 2013, Nanobiotix announced positive interim results from their Phase I trial of NBTXR3, in patients with Soft Tissue Sarcoma (STS). The Company claims that the clinical development of their products could potentially reach commercialization in 2017. Nanobiotix is eligible for further development and commercialization milestone payments from PharmaEngine, which may amount to a total of US$56 million plus tiered, up to double-digit royalties on net product sales in the Asian-Pacific region.
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