NANOBIOTIX signs a 40 M€ non-dilutive financing agreement with the European Investment Bank
NANOBIOTIX SIGNS A 40 M€ NON-DILUTIVE FINANCING AGREEMENT
WITH THE EUROPEAN INVESTMENT BANK
Paris, France and Cambridge, Massachusetts, July 26, 2018 - NANOBIOTIX (Euronext: NANO - ISIN: FR0011341205), a late clinical-stage nanomedicine company pioneering new approaches in the treatment of cancer, announced today that the Company launched a non-dilutive financial partnership with the European Investment Bank (EIB) to boost its research, development and innovation activities.
The financing agreement will allow the Company to borrow up to 40 M€ through loan over the coming five years subject to achieving a set of agreed performance criteria.
The transaction with Nanobiotix was made possible by the support of the European Fund for Strategic Investments (EFSI). EFSI is the central pillar of the Investment Plan for Europe, under which the EIB Group and the European Commission aim to act as strategic partners to boost the competitiveness of the European economy.
This financing agreement will enable Nanobiotix to accelerate both the development of NBTXR3 clinical trial in the head and neck cancers indication and to support the European go-to-market strategy.
The financing structure has been tailored to Nanobiotix specific needs thanks to the EU guarantee under the Juncker Plan, which key objectives include supporting innovative companies and helping their development in Europe but also to the EIB's financial expertise in this type of operation.
Commissioner Vytenis Andriukaitis said: "Cancer is the second-highest cause of death in the EU and with Europe's ageing population, fighting cancer will undoubtedly remain a priority in the years to come. We need to have innovative and dedicated research to always be in search of new treatments. Nanoparticle based cancer treatment research funding is one example of how serious we are in fighting cancer, with the significant support from the EIB to finance research and innovation."
"This project is a great fit with the Juncker Plan and is very important for European innovation." emphasised EIB Vice-President Ambroise Fayolle. "Innovation, and support for innovative companies, is what the EU guarantee under the Investment Plan for Europe is about, and financing research into cancer treatment is one of the most rewarding things a Bank can do. The EIB's mission is to improve people's lives, I think this is an excellent example of that."
Philippe Mauberna, CFO Nanobiotix, added: "We are pleased to have the European Investment Bank on board as a new financing partner. This loan will significantly enhance our financial visibility without diluting our shareholders in the medium term. This new partnership is another value recognition of the product the Company wants to bring to market to help millions of cancer patients."
NBTXR3 is a first-in-class product designed to destroy, when activated by radiotherapy:
NBTXR3 has a high degree of biocompatibility, requires one single administration before the whole radiotherapy treatment and has the ability to fit into current worldwide standards of radiation care.
The broad clinical program includes 10 patient population evaluated in 7 clinical trials.
In June 2018, the company has established the human proof of concept on this First in class product in Soft tissue Sarcoma Phase III clinical trial.
NBTXR3 is actively being evaluated in head and neck cancer with locally advanced squamous cell carcinoma of the oral cavity or oropharynx in elderly and frail patients unable to receive chemotherapy or cetuximab with very limited therapeutic options. The Phase I/II trial has already delivered very promising results regarding the local control of the tumors.
Nanobiotix is running an Immuno-Oncology development program . In the U.S., the Company received the FDA's approval to launch a clinical study of NBTXR3 activated by radiotherapy in combination with anti-PD1 antibodies in lung, and head and neck cancer patients (head and neck squamous cell carcinoma and non-small cell lung cancer).
The other ongoing studies are treating patients with liver cancers (hepatocellular carcinoma and liver metastasis), locally advanced or unresectable rectal cancer in combination with chemotherapy, head and neck cancer in combination with concurrent chemotherapy, and prostate adenocarcinoma.
The first market authorization process (CE Marking) is ongoing in Europe in the soft tissue sarcoma indication.
About NANOBIOTIX - www.nanobiotix.com
Incorporated in 2003, Nanobiotix is a leading, late clinical-stage nanomedicine company pioneering new approaches to significantly change patient outcomes by bringing nanophysics to the heart of the cell.
The Nanobiotix philosophy is one rooted in designing pioneer physical based approaches to bring highly effective and generalized solutions to address high unmet medical needs and challenges.
The Company's first-in-class, proprietary lead technology, NanoXray, aims to expand radiotherapy benefits for millions of cancer patients. Furthermore, the Company's Immuno-Oncology program has the potential to bring a new dimension to cancer immunotherapies.
Nanobiotix is listed on the regulated market of Euronext in Paris (Euronext: NANO / ISIN: FR0011341205; Bloomberg: NANO: FP). The Company's Headquarters are based in Paris, France, with a U.S. affiliate in Cambridge, MA, and European affiliates in Spain and Germany.
About the European Investment Bank (EIB) - http://www.eib.org
Created by the Treaty of Rome in 1958, the EIB is the European Union's bank, which, together with its dedicated SME support subsidiary the European Investment Fund (EIF), forms the EIB Group.
The EIB Group is a key player in reviving Europe's - and particularly France's - economy through investment. Thanks to its reliable expertise and the financial attractiveness of its AAA rating, the EIB Group has doubled the volume of its activities in France since 2012 (reaching EUR 8.6bn in 2017), not only supporting businesses and innovation but also financing investment in strategic sectors such as climate action, energy, healthcare, housing, education for young people and training infrastructure. Since 2015, the EIB Group has been the operator of the Investment Plan for Europe, commonly known as the Juncker Plan.
The Investment Plan for Europe, or Juncker Plan, is one of Jean-Claude Juncker's Commission's top priorities. It focuses on boosting investments in Europe to create jobs and growth by making smarter use of new and existing financial resources, removing obstacles to investment and providing greater visibility and technical assistance to investment projects. The European Fund for Strategic Investments (EFSI), which is the central pillar of the Investment Plan for Europe, enables the EIB Group to invest in more, often riskier, projects with high added value.
This press release contains certain forward-looking statements concerning Nanobiotix and its business. Such forward-looking statements are based on assumptions that Nanobiotix considers to be reasonable. However, there can be no assurance that the estimates contained in such forward-looking statements will be verified, which estimates are subject to numerous risks including the risks set forth in the reference document of Nanobiotix filed with the French Financial Markets Authority (Autorité des Marchés Financiers) under number D.17-0470 on April 28, 2017 as well as in its 2017 annual financial report filed with the French Financial Markets Authority on March 29, 2018 (a copy of which is available on www.nanobiotix.com) and to the development of economic conditions, financial markets and the markets in which Nanobiotix operates. The forward-looking statements contained in this press release are also subject to risks not yet known to Nanobiotix or not currently considered material by Nanobiotix. The occurrence of all or part of such risks could cause actual results, financial conditions, performance or achievements of Nanobiotix to be materially different from such forward-looking statements.
This press release and the information that it contains do not constitute an offer to sell or subscribe for, or a solicitation of an offer to purchase or subscribe for, Nanobiotix shares in any country. At the moment NBTXR3 does not bear a CE mark and is not permitted to be placed on the market or put into service until NBTXR3 has obtained a CE mark.
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: NANOBIOTIX via Globenewswire