Nanobiotix Bolsters Cash Reserves and Publishes Encouraging Preliminary Phase 2 Results
Nanobiotix has strengthened its financial base by completing a capital increase of 86.1 million euros through pre-funded warrants, bringing its net cash position to 42.1 million euros as of March 31, 2026. Concurrently, the French biotech company reported promising Phase 2 data for JNJ-1900 (NBTXR3) in inoperable lung cancer, with a response observed in 6 out of 7 treated patients (ORR 85.7%), albeit from a very small sample size that contrasts with the scale of its funding needs.
86.1 Million Euros Raised to Fund Program Portfolio
In May 2026, Nanobiotix completed a capital increase for a gross product of 86.1 million euros, including the issuance of pre-funded warrants aimed at accelerating the development of its technological platforms other than JNJ-1900. This capital injection comes in a context of stable cash reserves: the company reported 42.1 million euros in cash and equivalents as of March 31, 2026.
The fundraising illustrates the strategy of the Parisian biotech to secure its financing before advancing its clinical trials, especially while awaiting the full results of its pivotal studies with its partner Johnson & Johnson.
CONVERGE Results: High Response Rate but on a Small Sample
Phase 2 data from the CONVERGE program, evaluating JNJ-1900 for stage 3 inoperable non-small cell lung cancer, showed an overall response rate (ORR) of 85.7% (6 out of 7 patients) and a complete response rate (CRR) of 57.1% (4 out of 7 patients) at the ESTRO 2026 conference, after the complete treatment regimen combining chemotherapy, radiotherapy, JNJ-1900, and consolidation with durvalumab.
These rates contrast with the results of the current standard (concurrent chemoradiotherapy with or without durvalumab), which generally produces very low complete response rates in stage 3 inoperable. However, the trial included only 7 patients at this stage of analysis, which limits the statistical interpretability of the results.
Regulatory Acceleration on NANORAY-312
The FDA has accepted an amendment to the protocol of the pivotal trial NANORAY-312 (also sponsored by J&J), eliminating the previously planned interim analysis and modifying the final analysis to include fewer events and be conducted more rapidly. This change shortens the data generation timeline and reduces the clinical event burden required to validate the trial.
In parallel, Nanobiotix presented new preclinical data from its Nanoprimer platform evaluated in combination with lipid nanoparticles containing recombinant DNA at the AACR 2026 conference, extending its portfolio beyond JNJ-1900.
