Nanomedicine firm Nanobiotix SA (EPA:NANO) has reported a jump in fourth-quarter and full-year 2016 revenues boosted by upfront payments from Taiwan-based PharmaEngine.
The Euronext-listed late clinical-stage company, which is pioneering novel approaches for the local treatment of cancer, reported revenue of €517,738 for the three months to December 31, up from €58,556 in the third quarter.
The firm said the pro-rata share upfront payment from PharmaEngine is within the framework of the licensing contract signed in August 2012 for the development and commercialisation of the lead NanoXray product, NBTXR3 in the Asia-Pacific region.
The upfront payment totalled €810,640, generating revenue of €46,854 over the period.
The group said the invoicing of services and other sales respectively totalled €371,074 and €99,450 for the fourth quarter.
In total, Nanobiotix’s 2016 revenues were €1.5581mln, which the firm said was fully in line with its expectations. In 2015, the group’s revenues were €265,543.
Last year’s revenues included a milestone payment of US$1.0mln (€890,472) from PharmaEngine in June 2016.
That payment was triggered by the first patient injection of NBTXR3 in Asia within Nanobiotix’s Soft Tissue Sarcoma pivotal phase in the AsiaPacific region.
In December, Nanobiotix released positive results from Phase I/II trial evaluating NBTXR3 in liver cancers, with preliminary data showing feasibility and good safety of treatment with NBTXR3 at a 10% dose level.