Small but heading for a big time Half Year Results for the period ended 30 June 2013 Strong Clinical Progress Achieved
Paris, France, 30 August, 2013- NANOBIOTIX(the "Company") (Euronext: NANO), a clinical-stage nanomedicine company pioneering novel approaches for the local treatment of cancer, has published today its half year results for the six month period ended 30 June 2013(HY1). Half year highlights include: Financial highlights: * Total revenue of 0.7m (HY1 2012: 0.5m) corresponding to the pro-rata share of the upfront payment from PharmaEngine as planned, amounting to 0.1m and corresponding to the research tax credits amounting 0.6m. * R&D costs and general costs have risen significantly in the period compared to HY1 2012 as expected with the acceleration of the clinical development of lead product, NBTXR3 and the reinforcement of the Company's structure and governance as stated during the IPO process. * Underlying loss after tax for the period was -4.3m (HY1 2012: -2.5m) due to the increase in costs. * Cash balance as of 30 June 2013 was 8.1m (HY1 2012: 1.0m) as per the forecast, since cash management remains a key company's focus. Main operational highlights: * Clinical achievements * Clinical proof of concept of NBTXR3 in Phase I trial for soft tissue sarcoma; next group of patients to be treated in H2 2013. * Second indication for NBTXR3 in head and neck cancer selected; Phase I trial to commence in H2 2013. * The National Cancer's Institute's Nanotechnology Characterization Laboratoryselected NBTX-IV for characterization studies on the basis of its potential to impact cancer treatment. * Strengthening of the Supervisory Board with the appointment of Alain Herrera, a pioneer of industrial oncology. Post period end main highlights: * Nanobiotixreceived a 2.8m grant from Bpifrance among a 9.0m French nanomedicine development program. This will directly support the development of NBTXR3 in a third new indication, hepatocellular (liver) cancer. * Strengthening of the Management Team with the appointment of Philippe Mauberna as CFO. Laurent Levy, Chief Executive Officer at Nanobiotix, said: "We have made excellent clinical progress in the period, beyond what we originally expected, and we would like to accelerate this further if possible. The second half of the year started well and we expect the initiation of the new clinical trial and the reporting of trial results in the period. We continue to control costs tightly and have focused on strengthening the Company's structure and governance during the period. We have also received a grant from the Bpifrance which not only acknowledges the potential impact of our technology in cancer treatment, but also is helpful in managing the cash flow. Our strategy is to seek further international collaborations that will allow us to provide sustainable company growth, but we also want to drive progress forward ourselves, with the continued support of our shareholders. As part of our internal plans, we will continue to enhance the operational and commercial experience of the Supervisory Board and management team as we bring our NanoXray products through the clinic and onto the market."