Nanobiotix, a commercial-stage French biotech developing nanoparticle therapies for cancer, announced terms for its IPO on Monday.
The Paris, France-based company plans to raise $95 million by offering 6.5 million ADS equivalents at $14.69, the as-converted last close of its shares on the Euronext Paris (NANO). At the proposed price, Nanobiotix would command a fully diluted market value of $537 million.
Nanobiotix is developing proprietary nanotechnology to transform cancer treatment by increasing the efficacy of radiotherapy. Its lead candidate, NBTXR3, is designed to enhance the overall efficacy of radiotherapy without resulting in additional side effects on the surrounding healthy tissues. NBTXR3 has been administered to more than 230 patients and is currently involved in a total of eight clinical trials worldwide. In April 2019, Nanobiotix completed the regulatory process for the CE mark of NBTXR3, allowing the product to be commercialized in the EU for the treatment of locally advanced soft tissue sarcoma under the brand name Hensify.
Nanobiotix was founded in 2003 and booked $3 million in revenue for the 12 months ended June 30, 2020. It plans to list on the Nasdaq under the symbol NBTX. Jefferies, Evercore ISI and UBS Investment Bank are the joint bookrunners on the deal. It is expected to price during the week of December 7, 2020.
