Nanobiotix

What Nanobiotix does

Nanobiotix is a late-stage clinical biotechnology company developing physics-based nanotherapeutics for oncology, headquartered in Paris, France with a U.S. subsidiary in Cambridge, MA, and dual-listed on Euronext Paris (NANO) and Nasdaq (NBTX). Its core asset is NBTXR3 (JNJ-1900 / Hensify), a first-in-class nanoradioenhancer composed of functionalized hafnium oxide nanoparticles administered by a one-time intratumoral injection prior to standard radiotherapy, designed to increase radiation energy deposition within tumor cells up to 9x without proportionally damaging healthy tissue and to prime an antitumor immune response through immunogenic cell death. NBTXR3 is being evaluated across 14 solid tumor indications including head and neck squamous cell carcinoma, non-small cell lung cancer, esophageal, pancreatic, liver, rectal, and soft tissue sarcoma, with registrational Phase 3 NANORAY-312 in head and neck cancer led by Johnson & Johnson's Janssen under a global licensing/co-development agreement amended in 2025. A second proprietary platform, Curadigm Nanoprimer, consists of lipid-based nanoparticles engineered to temporarily occupy liver clearance pathways and improve systemic bioavailability of co-administered IV therapies, with collaborations involving Sanofi, MIT, and Earli.

The company's revenue model is pre-commercial and concentrated almost entirely on the Janssen partnership, comprising licensing/milestone payments (up to ~$2.6 billion in potential milestones plus tiered double-digit royalties), supplemented by a 2025 royalty monetization with HealthCare Royalty Partners (up to $71M), a 2023 financing round anchored by Johnson & Johnson Innovation – JJDC, and a $100M oversubscribed global offering closed in May 2026 that extends cash runway into 2029. NBTXR3 holds CE Mark approval (2019) for locally advanced soft tissue sarcoma as Hensify in 27 European countries and FDA Fast Track designation for head and neck cancer (2019); the FDA-accepted NANORAY-312 protocol amendment eliminates a planned interim analysis and is intended to accelerate the registrational readout. Nanobiotix employs 101–250 people, was founded in 2003 by CEO Laurent Levy, and is governed by a French SA à directoire et conseil de surveillance structure.

Name

Nanobiotix

Legal name

NANOBIOTIX, SA à directoire et conseil de surveillance

Website

https://nanobiotix.com

Company type

Public

Founded year

2003

Operating status

Operating

Headcount range

101–250 employees

Short description

Nanobiotix is a Paris-based, late-stage clinical nanomedicine company developing hafnium oxide nanoparticle radioenhancers (NBTXR3/Hensify) and a lipid-based Nanoprimer delivery platform for solid tumor radiotherapy and IV therapeutic bioavailability, partnered globally with Johnson & Johnson's Janssen.

Ownership category

akta.pro rank

Product category

Oncology Nanotherapeutics

NAICS

Research and Development in Nanotechnology (541713), Biological Product (except Diagnostic) Manufacturing (325414), Pharmaceutical and Medicine Manufacturing (3254), Research and Development in Biotechnology (except Nanobiotechnology) (541714)

SIC

Pharmaceutical Preparations (2834), Biological Products, (No Disgnostic Substances) (2836)

akta.pro primary industry

Therapeutic Radiopharmaceuticals (Radioligand/Targeted Radionuclide Therapy) (HLAIAGAB)

akta.pro secondary industry

Theranostic Radiopharmaceutical Platforms (Paired Dx/Tx) (HLAIAGAC)

Keywords

• Nanoradioenhancer therapeutics
• Cancer nanomedicine
• Radiotherapy enhancement
• Drug bioavailability platform
• Solid tumor treatment

Headquarters

HQ city

Paris

HQ country

France

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Technology or R&D, Personnel, Operations, Marketing or Sales, Supply Chain

Revenue model

1. Licensing and Milestone Payments: Global license agreement with Johnson & Johnson's Janssen provides approximately $2.6 billion in potential milestones and tiered double-digit royalties. Payments contingent on development, regulatory, and commercial milestones across multiple indications. The 2025 amended agreement significantly reduced Nanobiotix's financial burden while preserving potential milestone payments.
2. Royalty Monetization: Non-dilutive royalty financing deal valued at up to $71 million with Healthcare Royalty (HCRx), providing upfront funding in exchange for future royalty streams. Extended cash runway into early 2028.
3. Product Revenue (Future): Once regulatory approvals are obtained, revenue will be generated from product sales of NBTXR3/Hensify. FDA accepted protocol amendment for Phase 3 head and neck cancer study potentially enabling earlier revenue generation.
4. Curadigm Platform Collaborations: Revenue potential from external partnerships leveraging the Nanoprimer platform to overcome bioavailability challenges in RNA/DNA therapies, gene therapies, and oncolytic viruses. Company is pursuing both external partnerships and proprietary internal pipeline development.

Go-to-market motion2 records

Distribution channels4 records

Marketing channels5 records

Core offering

Nanobiotix develops and clinical-stage commercializes physics-based nanotherapeutic platforms for oncology. Its lead asset NBTXR3 is a first-in-class nanoradioenhancer of functionalized hafnium oxide nanoparticles administered via one-time intratumoral injection to enhance radiotherapy energy deposition in solid tumors, complemented by the Curadigm Nanoprimer Platform of lipid-based nanoparticles designed to temporarily block hepatic clearance and improve bioavailability of intravenously administered therapeutics.

Product overview

Nanobiotix is a late-stage clinical biotechnology company pioneering physics-based nanotherapeutics. The company's core product is NBTXR3 (also known as JNJ-1900 and branded as Hensify in Europe), a first-in-class nanoradioenhancer using hafnium oxide nanoparticles designed to enhance radiotherapy efficacy in solid tumors. NBTXR3 is administered via one-time intratumoral injection prior to standard radiotherapy and works by increasing radiation energy deposition within tumor cells up to 9 times compared to radiotherapy alone. The company also operates the Curadigm Nanoprimer Platform, a proprietary technology designed to overcome liver clearance barriers and improve bioavailability of intravenously administered therapies. The two platforms are distinct but complementary: NBTXR3 targets enhanced cancer cell destruction through physics-based radioenhancement, while the Nanoprimer addresses therapeutic delivery challenges across multiple drug classes including RNA/DNA therapies, gene therapies, and oncolytic viruses.

Differentiator

Problem solved

Functional benefit

Brands

• Hensify®: European brand name for NBTXR3, approved for treatment of locally advanced soft tissue sarcoma in 27 European countries

Products and services

• NBTXR3 (JNJ-1900) First-in-class nanoradioenhancer composed of functionalized hafnium oxide nanoparticles, administered via one-time intratumoral injection prior to standard radiotherapy to increase radiation energy deposition within tumor cells up to 9x without increasing dose to surrounding healthy tissues, and to prime immune response against metastatic tumors. Being developed for solid tumors including head and neck squamous cell carcinoma, non-small cell lung cancer, soft tissue sarcoma, esophageal, pancreatic, liver, and rectal cancers.
• Curadigm Nanoprimer Platform First-in-class lipid-based nanoparticle platform designed to temporarily occupy liver clearance pathways, increasing systemic bioavailability of subsequently administered IV therapies while minimizing off-target effects, with demonstrated improvements for RNA/DNA therapies, gene therapies, oncolytic viruses, and LNP-delivered therapeutics. Pursued through external collaborations and proprietary internal pipeline.
• Hensify (NBTXR3 European brand) European commercial brand for NBTXR3, approved for the treatment of locally advanced soft tissue sarcoma in 27 European countries.

Quantifiable outcome

• 85.7% overall response rate and 57.1% complete response rate in Stage 3 inoperable NSCLC (CONVERGE Phase 2 study, 7 patients) compared to <5% complete response with standard of care
• +4 more outcomes

Named customers1 record

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Six partnerships are on record, tiered flagship, core, minor and supporting.

• Johnson & Johnson (Janssen Pharmaceutica NV)flagshipStrategic or Co-development Partner · 10 July 2023Global licensing, co-development, and commercialization agreement for NBTXR3 as announced July 10, 2023. Amended agreement in 2025 significantly reduces Nanobiotix's financial burden while preserving approximately $2.6 billion in potential milestones and tiered double-digit royalties. J&J assumed operational control including sponsorship of Phase 3 NANORAY-312 study and Asian market rights previously held by LianBio.
• MD Anderson Cancer CentercoreStrategic or Co-development PartnerCollaboration to expand development of NBTXR3 across solid tumor indications and therapeutic combinations in parallel with company-sponsored studies. Multiple clinical trials ongoing including MDA-0541, MDA-0123, MDA-0618, MDA-1001, and MDA-0122.
• LianBiominorStrategic or Co-development PartnerFormer partnership for development and commercialization of NBTXR3 across Asian markets including China, South Korea, Singapore, and Thailand. Collaboration included global Phase III study for head and neck cancer with milestone payments and royalties. Rights subsequently acquired by Johnson & Johnson.
• SanoficoreStrategic or Co-development PartnerCollaboration on Curadigm Nanoprimer Platform to overcome bioavailability and hepatotoxicity challenges in Sanofi therapeutic candidates.
• MIT (Massachusetts Institute of Technology)supportingTechnology or IntegrationAcademic collaboration on Curadigm Nanoprimer Platform research and development.
• EarlisupportingStrategic or Co-development PartnerCollaboration generating preclinical data showing improved systemic bioavailability and reduced toxicity for LNP-delivered DNA immunotherapy when pre-treated with Nanoprimer technology.

Scale indicators11 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Telix Pharmaceuticals: Australian/US-listed radiopharmaceutical company focused on diagnostic and therapeutic radiopharmaceuticals in oncology. Directly comparable in therapeutic area, business model (late-stage clinical radiopharma), and customer base (cancer patients), with similar size and development stage.
• Lantheus Holdings: Leading US radiopharmaceutical company with both diagnostic imaging agents and therapeutic radiopharmaceuticals in oncology. Comparable in radiation-based cancer treatment approach, regulatory pathway, and commercialization model targeting hospitals and cancer centers.
• ITM Isotope Technologies: Munich-based radiopharmaceutical company developing targeted radionuclide therapies for cancer. Comparable as a pure-play radiopharma in oncology with a focus on novel therapeutic radioisotopes, similar to Nanobiotix's radiation-based cancer therapy approach.
• Curium Pharma: Global nuclear medicine company producing diagnostic and therapeutic radiopharmaceuticals. Directly comparable in offering radiation-based agents for oncology, with similar regulatory and commercial pathway as Nanobiotix's NBTXR3 platform.

Broad incumbents

• Novartis (Pluvicto / Lutathera): Global pharmaceutical leader with Pluvicto and Lutathera radiopharmaceutical franchises. Broad incumbent with overlapping radiation-based cancer therapy capabilities as part of a much larger portfolio, including targeted radionuclide therapies directly competing with NBTXR3 in oncology indications.
• Bristol-Myers Squibb (RayzeBio): Global pharma that acquired RayzeBio in 2024 to expand its radiopharmaceutical platform. Broad incumbent now operating in actinium-based radiopharmaceuticals for solid tumors, directly comparable to Nanobiotix's NBTXR3 mechanism as a radiation-enhancing cancer therapy.
• AstraZeneca (Fusion Pharmaceuticals): Global pharmaceutical leader that acquired Fusion Pharmaceuticals in 2024 to build a radioconjugate platform. Broad incumbent with overlapping capabilities in targeted cancer radiotherapy, comparable in therapeutic area and approach to NBTXR3.
• Bayer (Xofigo / Algeta): Global pharma with Xofigo (radium-223), an established therapeutic radiopharmaceutical for cancer. Broad incumbent in radiation-based oncology therapeutics, comparable in offering radiation-emitting cancer therapies though with a different mechanism than NBTXR3's radioenhancement approach.

Emerging players

• Acuitas Therapeutics: Private Canadian company that developed the LNP delivery technology used in Pfizer/Comirnaty and Moderna's mRNA vaccines. Emerging player with partial overlap to Nanobiotix's Curadigm Nanoprimer platform, both focused on enabling IV-administered nucleic acid and gene therapies through improved delivery.
• Arcturus Therapeutics: Clinical-stage mRNA medicines company with proprietary LNP delivery technology (LUNAR platform). Emerging player with overlapping technology focus to Nanobiotix's Curadigm Nanoprimer, both addressing delivery challenges for nucleic acid therapeutics.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/1749543
• Xx.com/Nanobiotix
• Facebookfacebook.com/136837763045296

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Subsidiaries1 record

Funding overview

Funding rounds13 records

Investors10 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Nanobiotix