The nanoparticle is NBTXR3, a formulation of hafnium oxide crystals for the local treatment of tumors. It is currently being investigated in a phase I study with patients being treated for soft tissue sarcomas.

Under the terms of the agreement, PharmaEngine will receive the exclusive rights to develop and commercialize NBTXR3 in Australia, China, India, Japan, Korea, Taiwan, and other countries in the Asia-Pacific region. Nanobiotix will receive an initial payment of $1 million dollars (806,500 euros). It will be eligible to receive up to a total of $56 million (45.24 million euros) upon achievement of certain development, regulatory, and sales milestones, as well as royalties on net product sales of NBTXR3.