(BFM Stock Exchange)-The nano-medicine specialist announced that he had renegotiated his license contract with Janssen signed in 2023, allowing him to extend his financial visibility until mid-2026.

Nanobiotix is ​​progressing strongly this Tuesday, March 18 on the Paris Stock Exchange, and leaps by 13.6% shortly before 2:00 p.m. The nano-medicine specialist thus returns to the 3 euros, and this in volumes fed for the company with more than 500,000 titles exchanged since the opening.

This lively renewed interest in the stock exchange is to be put in perspective with the last announcement of the company which offers it a little financial air. Nanobiotix said on Monday, March 17, having amended the terms of his license contract signed in 2023 with the Dutch group Janssen, owned by the American Johnson and Johnson.

An amendment to a license agreement

The changes relate to the costs linked to the financing of Nanoray-312, a phase 3 study evaluating NBTXR3, its flagship product, in the field of oncology for the treatment of epidermoid carcinoma of the head and neck locally advanced.

This product is administered by intra tumor injection and activated by radiotherapy. It will then destroy tumor cells then triggering an adaptive immune response and long -term anticancer memory.

Previously supported by the French company, Johnson & Johnson will assume almost the virtual costs of the remaining costs until the end of the phase 3 pivot study in progress, less a small part remaining the responsibility of Nanobiotix.

In return, the French company will have to draw a line on certain future potential steps payments. The amount of these potential steps payments is estimated at 105 million euros.

Thus, the value of the overall license contract is readjusted to around 2.6 billion dollars compared to $ 2.7 billion provided for in the initial contract.

Nanobiotix nevertheless specifies that the first “significant” steps payments are maintained with “hundreds of millions of dollars to perceive in the coming years linked to programs in cancer of the head and neck not eligible for cisplatin and in lung cancer no-à-gypitis cells of stadium 3 not found”.

The other parameters of the agreement remain unchanged. Nanobiotix remains eligible for $ 220 million in potential development and regulatory steps payments for each new indication that could be obtained by Nanobiotix, in agreement with Johnson & Johnson. Apart from steps payments, Nanobiotix will also benefit from “two -digit” royalties on NBTXR3 net sales.

Extended financial visibility until mid-2026

Thanks to this amendment, Nanobiotix extends its financial horizon until mid-2026, where the company had only visibility limited to the fourth quarter of 2025.

“The revised agreement constitutes a clear risk reduction strategy for Nanobiotix, providing short-term financial relief, with a treasury horizon extended until mid-2026 for a modest reduction in the long-term increase potential,” said Stifel.

Nanobiotix continues in parallel to explore additional and preferably non -dilutive financing options, to extend its financial visibility more until 2027. In a note published this Tuesday, March 18, Oddo BHF recalls that it has integrated into its model, a potential capital increase in the amount of 70 million euros and which would be made in 2025.

For the design office, the announcement of the day has no negative impact on its sequence of Milestones (steps payments). He thus integrated into his valuation model a total amount of only $ 1.3 billion, in order to remain conservative.

The Risk/Reward (Risk/Profit Report) seems particularly attractive on these valuation levels, estimates Oddo BHF.

“The medium-term performance should be driven by a ‘Newsflow’ (a dense clinical news) with in particular the publication of phase 1 results in several indications in 2025 and intermediate results of phase 3 Nanoray-312 in mid-2026”, specifies the financial intermediary which confirms its opinion to “outperformance” on the title as well as course objective at 10 euros.