Nanobiotix, LianBio Ink NBTXR3 Development Pact In Asia For Solid Tumor Settings - Nanobiotix (NASDAQ:NBTX)

Nanobiotix NBTX has announced a partnership with LianBio to develop and commercialize Nanobiotix's lead product candidate NBTXR3, in Greater China (mainland China, Hong Kong, Taiwan, and Macau), South Korea, Singapore, and Thailand.
NBTXR3 comprises functionalized hafnium oxide nanoparticles that are administered via one-time intratumoral injection and activated by radiotherapy.
The product candidate is being evaluated primarily in locally advanced head and neck squamous cell carcinoma.
Under the terms of the agreement, Nanobiotix will receive a $20 million upfront payment and is entitled to receive up to an aggregate of $220 million in potential milestone payments.
Nanobiotix will also be eligible to receive tiered, low double-digit royalties based on net sales of NBTXR3 in the licensed territories.
LianBio will participate in the Nanobiotix global Phase 3 registrational study evaluating NBTXR3 in head and neck cancer by enrolling 100 patients in China in the study.
LianBio will fund all development and commercialization expenses in the collaboration territory, and Nanobiotix will continue to fund all development and commercialization expenses in all other geographies.
Price Action: NBTX shares closed at $15.5 on Tuesday.