The Paris Life Sciences team advises Nanobiotix (Euronext: NANO –– NASDAQ: NBTX), on a non-dilutive royalty financing agreement with HealthCare Royalty (HCRx) for up to $71 million, in exchange of a portion of royalties from the sales of the product JNJ-1900 (NBTXR3), a novel, potentially first-in-class oncology product composed of functionalized hafnium oxide nanoparticles that is administered via one-time intratumoral injection and activated by radiotherapy, and which has been the subject of an exclusive license agreement with Janssen Pharmaceutica NV, a Johnson & Johnson company.
According to the royalty financing agreement, Nanobiotix will receive an upfront payment of $50 million and is eligible to receive an additional $21 million payment one year post closing, subject to reaching certain conditions.
As a counterpart, and subject to the receipt of $71 million, HCRx shall be entitled to receive a repayment from a defined portion of royalties and a portion of certain regulatory and commercial milestone payments.
Nanobiotix is a late-stage clinical biotechnology company pioneering disruptive, physics-based therapeutic approaches to revolutionize treatment outcomes for millions of patients.
HealthCare Royalty is a leading royalty acquisition company founded in 2006 that is majority owned by KKR & Co. Inc. (NYSE: KKR). Over two decades, the HCRx team has developed a strong track record of investing in commercial-stage and near-commercial-stage biopharmaceutical assets, committing $7+ billion in over 110 biopharmaceutical products.
The Goodwin team included:
- In Paris, Marie Fillon on licensing aspects, Adrien Paturaud and Alexander Hahn on the financing aspects, Charles-Henri de Gouvion Saint Cyr on tax aspects, Guilhem Richard and Shanna Kim on the capital markets aspects;
- In the US, Jacqueline Mercier and Catherine Magazu, Amine Assouad and Grace Kim on corporate aspects, Kathleen Kean on the licensing aspects.