Nanobiotix Stock Surges 50% in 2025 After $1.8B Deal with J&J’s Janssen Pharmaceutical

Nanobiotix (NBTX) American depositary receipts experienced a remarkable surge of over 50% in early trading on Monday, driven by a strategic collaboration with Johnson & Johnson’s Janssen Pharmaceutical to co-develop a cutting-edge drug targeting head and neck cancer tumors.

Key Highlights

• Nanobiotix has entered a co-development agreement with Janssen Pharmaceutical, a J&J subsidiary, focusing on a novel treatment for head and neck cancer.
• The deal includes an upfront payment of $60 million to Nanobiotix, plus up to $30 million in equity investment by 2027.
• Potential milestone payments could total as much as $1.8 billion, contingent on successful drug development, regulatory approvals, and sales achievements.
• The agreement excludes China and select Asian markets where Nanobiotix has existing licensing arrangements.

The collaboration centers on NBTXR3, a drug designed to boost the effectiveness of radiotherapy for tumors linked to head and neck cancer. Nanobiotix will receive $60 million in near-term cash payments, including $30 million for licensing rights and another $30 million to support ongoing development efforts.

Additionally, Nanobiotix will benefit from a $5 million equity investment from Janssen, with the potential for an extra $25 million investment subject to ownership limits tied to future financing rounds.

This partnership positions Nanobiotix to capitalize on milestone payments totaling up to $1.8 billion, dependent on clinical progress, regulatory clearances, and commercial success. The transaction awaits approval under U.S. antitrust regulations and is anticipated to finalize before December 31, 2027.

Notably, the agreement covers global licensing and sales of NBTXR3, except for China and some Asian territories where Nanobiotix licensed the drug to LinaBio in 2023.

In a related industry move, Johnson & Johnson expanded its MedTech portfolio by acquiring Abiomed, a heart pump manufacturer, for $16.6 billion last November. J&J reported Q1 2023 net sales of $24.7 billion, marking a 5.6% increase from $23.4 billion in Q1 2022.

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