Edison upbeat on Nanobiotix's plan to go it alone in US

(MENAFN- ProactiveInvestors) Nanobiotix's (EPA:NANO) plans to commericalise NBTXR3 in the US alone rather than with a partner should prove more profitable says research house Edison which has lifted its valuation of the nanotechnology specialist.

It comes after US investor Capital Ventures International (CVI) recently injected €10.4mln into the company via a placing of 650000 shares.

"We have completely revised our valuation to reflect both the more profitable go-italone US strategy and the updated development plans that now also include liver metastases and high-risk prostate cancer" said analyst Dr Philippa Gardner.

The firm's NBTXR3 is a liquid containing nano-particles which is injected into a cancer tumour allowing radiotherapy to be administered in a very effective way.

Edison has lifted its valuation of the firm to €464mln from €332mln. 

Shares are currently at €17.60 giving the group a market cap of €231mln.

Edison noted that a pivotal soft tissue sarcoma (STS) trial has started as planned in Europe which could lead to first CE mark approval by end 2016.

A bridging study could be conducted in the US to gain regulatory approval depending on interim data in the first half of 2016 the analyst said.

Meanwhile the pilot head and neck trial is still ongoing and interim data could be available in the first half of 2015 which could be followed by an EU/US pivotal trial. 

"Nanobiotix now also intends to pursue development in liver cancers including liver metastases and in high-risk prostate cancer. These new indications help boost our peak NBTXR3 sales in the US and Europe to €1.4bn" said Edison.

On Monday this week Oriel Securities hiked its ‘fair value’ of the stock to €25.50 from €23 previously.