Nanobiotix (PAR:NANO.PA) inked a non-dilutive financial deal with the European Investment Bank last week to support the development of its nanoparticle-based cancer therapies.
The Paris, France-based company said it landed a five-year loan to borrow up to €40 million ($46.7 million) contingent upon a set of performance milestones.
Nanobiotix plans to use the funds to bring its NBTXR3 product into clinical trials for people with head and neck cancer. The drug is designed to destroy tumors and trigger the body’s immune system when activated by radiotherapy.
