Q1 2024 Nanobiotix SA Earnings Call & Business Update
Okay.
Good day and welcome to the NN.
Speaker Change: There are no biotics corporate strategy update on Q1, 'twenty 'twenty four conference call. At this time all participants are in a listen only mode. After the speaker's presentation. There will be a question and answer session. Please be advised that today's conference is being recorded at this point I will turn the call over to Craig Quest Senior Vice President of <unk>.
Speaker Change: That's our relations no no biotics.
Craig West: Thank you, good afternoon, and good morning, and welcome to the Nanobiotix conference call to discuss updates to our NBTXR3 development plan and our first quarter. Joining me on the call today are Laurent Levy, co-founder and chief executive officer, and Bart Van Rijn, chief financial officer, who will be available during the Q&A section.
Speaker Change: Thank you good afternoon, and good morning, and welcome to the antibiotics conference call to discuss updates to our <unk> development plan and our first quarter.
Speaker Change: Joining me on the call today are Laura Levy co founder and Chief Executive Officer, and Bart Van <unk>, Chief Financial Officer, who will be available during the Q&A section.
Craig West: As a reminder, today's call is being webcast and will be available on our website for replay. I would like to remind you that this call will include forward-looking statements, which may include statements regarding the progress, success, and timing of our ongoing and planned clinical trials, collaborations, regulatory filings, dates of presentation, and future research and development efforts, among other things. These forward-looking statements are based on current information, assumptions, and expectations that are subject to change.
Speaker Change: As a reminder, today's call is being webcast and will be available on our web site for replay.
Craig West: They are subject to significant risks and uncertainties that could cause the company's actual results to differ materially from our current expectations. Accordingly, you are cautioned not to place undue reliance on forward-looking statements. Please review the full description of risk factors that can be found in the documents we filed with the AMF in France and the SEC in the United States, which are available in the Investor Relations section of our website along with the press releases issued yesterday and today.
Speaker Change: I would like to remind you that this call will include forward looking statements, which may include statements regarding the progress success and timing of our ongoing and planned clinical trials collaborations regulatory filings data presentation and future research and development efforts among others.
Speaker Change: Thanks.
Speaker Change: These forward looking statements are based on current information assumptions and expectations that are subject to change.
Speaker Change: They are subject to significant risks and uncertainties that could cause the company's actual results to differ materially from our current expectations.
Speaker Change: Accordingly, you are cautioned not to place undue reliance on forward looking statements.
Speaker Change: Please review the full description of risk factors that can be found in the documents, we filed with the IMF in France and SEC in the United States, which are available in the Investor Relations section of our website along with the press releases issued yesterday and today.
Craig West: In addition, any forward-looking statements represent our views only as of today and should not be relied upon as representing our views as of any subsequent date. While we may elect to update these forward-looking statements at some point in the future, Nanobiotix undertakes no obligation to update them to reflect subsequent events or future circumstances. Before turning the call over to Laurent, allow me to highlight that we announced in a separate press release this morning our first quarter 2024 unaudited cash balance of 58.9 million euros and reaffirmed our cash runway into Q3 2025, which is inclusive of the 20 million dollar milestone we meanwhile received. With that said, I'd like to turn the call over to Laurent. Please go ahead. Thank you.
Speaker Change: In addition, any forward looking statements represent our views only as of today and should not be relied upon as representing our views as of any subsequent date.
Speaker Change: While we may elect to update these forward looking statements at some point in the future and antibiotics undertakes no obligation to update them to reflect subsequent events or future circumstances.
Speaker Change: Before turning the call over to Laura <unk>.
Speaker Change: Allow me to highlight that we announced in a separate press release. This morning, our first quarter 2024, unaudited cash balance of $58 9 million Euro and reaffirmed our cash runway into Q3, 2025, which is inclusive of the $20 million milestone we Meanwhile.
Speaker Change: Received with that said I'd like to turn the call over to the wrong. Please go ahead.
Laurent Levy: Thank you, Craig, and thank you everyone for joining us today. As Craig mentioned, we issued a press release yesterday highlighting the company's progress in the global development of NBT XR3 and an overview of our robust pipeline and expansion strategy. For today's call, I would like to begin with updates on our NBTFR3 collaboration and discuss our pathway to long-term growth. Then, I will provide closing remarks before opening up the call for questions.
Speaker Change: Thank you Craig and thanks to everyone for joining us today as Greg mentioned, we issued a press release yesterday, highlighting the company progress in the global development of Gtx factory and other view of our robust pipeline and expansion strategy.
Speaker Change: For today's call I would like to begin with updates to our <unk> collaboration and discuss our pathway to long term growth then I will provide closing remark before opening up the call for questions.
Laurent Levy: Nanobiotix has been long known for the disruptive potential of NBTXR3, a nanoparticle treatment we've been developing for patients with cancer around the world. The accomplishments we have achieved in our 20-year history stand as a testament to the hard work of our team, the potential value the industry will place on our technology, as well as the tremendous faith and confidence of our investors and other stakeholders, all in our vision and our plans to get there.
Narrow biotechs have been long known for the disruptive potential of Mdx arteries and nanoparticle treatment, we've been developing for patients with cancer around the world. The accomplishments we have achieved through our 20 year history stand as a testament to the odd work of our team the potential value of the industry at large scale in our technology.
Speaker Change: As well as the tenant space and confidence of our investors and other stakeholders all in our vision and our plans to get there.
Laurent Levy: Last summer, we entered into a collaboration with Jensen worth potentially more than $2.5 billion plus royalties, ranging from low teens to low 20s, to expand the worldwide potential of our lead therapeutic candidate NBTXR3, a potential first-in-class radio enhancer with universal application across the lead tumor. As part of the agreement, NBCXR3 is being developed and potentially commercialized globally by Janssen Pharmaceuticals, a Johnson & Johnson company Our global license agreement with Janssen has given us the possibility to deliver outcome-changing innovation for millions of patients.
Speaker Change: Last summer, we entered into a collaboration with Janssen, whereas potentially more than $2 5 billion plus royalties ranging from low teens to low twenties to expand the worldwide potential of our lead to rapidly candidate NVCA country, a potential first in class valuate answer with universal application across the HMO.
Speaker Change: As part of the agreement <unk> is being developed and potentially commercialized globally by Yang pharmaceutical.
Speaker Change: Johnson <unk> Johnson company.
Speaker Change: Our global license agreement with Janssen has brought us the possibility to deliver outcomes changing innovation for millions of patients today's focus with our partner is to secure the path to market for <unk> and our commitment to realize a Regina <unk> medical and economic value remains our most important goal.
Laurent Levy: Today's focus with our partner is to secure the path to market for NBJXR3, and our commitment to realize our adjoinance's medical and economic value remains our most important goal. We believe this agreement underscores the therapeutic and market opportunity of NVTxR3 and, importantly, further validates our platform and scientific approach. We believe that this collaboration with our partner has the potential to impact the lives of many patients. We believe this because MBTXR3 can treat patients at a stage where the disease is local with radiation therapy, which is a treatment utilized by millions of patients. Better local control of disease at this stage could have a fundamental impact on the overall outcome for patients.
Speaker Change: We believe these agreements underscore the corrected each a market opportunity of analytics artery and importantly, further validates our platform and scientific approach.
Speaker Change: We believe that this collaboration with our partner have the potential to impact the lives of many patients.
Speaker Change: We believe this because ambidextrous III can treat patients at stage, where the disease is local with radiation therapy, which is a treatment utilized by millions of patients better local control of disease at the edge.
Speaker Change: We believe could have a fundamental impact on the overall outcome for patients.
Laurent Levy: The alliance with Janssen for the co-development and global commercialization of NB-TXR3 has achieved significant progress, which we will discuss today. We remain focused on execution to secure our partnership outcomes and drive as much value from the alliance as possible for patients and Nanobiotix's many stakeholders. Alongside this, Nanobiotix is working to explore and push forward the next generation of nanoparticle-based therapy in healthcare. I'm excited to discuss with you today our corporate strategy, which is designed to enable long-term growth for nanobiotics.
Speaker Change: The alliance with Amgen for co development and global commercialization of <unk> XR free average is significant progress.
Speaker Change: Which we'll go through today.
Speaker Change: We remain focused on the execution to secure a partnership outcome and drive as much value in the alliance as possible for patients and antibiotics many stakeholders.
Speaker Change: Alongside this narrow biotech is working to explore and push forward. The next generation of nanoparticle based therapy in health care.
Speaker Change: I am excited to discuss with you today, our corporate strategy, which is designed to enable long term growth from antibiotics.
Laurent Levy: Our company is developing three nanoparticle-based therapy platforms. We plan to leverage the sustainable revenue expected to come from the development and commercialization of NBTXR3 to further advance the development of our second platform, Curating, and the third platform.
Speaker Change: Our company is developing tree nanoparticle based therapy platform, we plan to elaborate the sustainable revenue expected to come from the development and commercialization of mdx artery to further developments.
Speaker Change: Development of a second platform Corrado.
Laurent Levy: Building on the success of NBTXR3, we are energized to expand our leadership in nanoparticle-based therapy, and we'll discuss more on this shortly. But first, let's start with our efforts to deliver a potentially curative outcome for patients with locally advanced and metastatic cancer within DCXR3, as it remains our primary focus. As a reminder, for those new to the story, MBTXR3 is a biologically inert, electron-dense nanoparticle designed to be a strong X-ray absorber and radiation amplifier.
Speaker Change: And the third platform building on the success of AMETEK battery, we are in a place to expand our leadership in nanoparticle based therapy and we'll discuss more on this shortly.
Speaker Change: But first let's start with our efforts to deliver potentially curative outcomes for patients with locally advanced and metastatic cancer with Gtx battery at deep <unk>.
Speaker Change: <unk> remains our primary focus.
Speaker Change: As a reminder of how those new to the story <unk> operated biologically Electron-dense nanoparticle designed to be a strong extra October and regulation amplifier.
Laurent Levy: It is a one-time treatment designed to minimize impact on the patient's journey, as it is injected directly into the tumor before the first course of radiation treatment, where it has been shown to amplify the anti-tumor activity of the radiation without increasing exposure to LCM. We call this modifaction universal.
Speaker Change: It is a one time treatment designed to minimize impact on the patient journey.
Speaker Change: <unk> is injected directly into the tumor before the first course of radiation treatment. While it has been shown to amplify the antitumor activity of the radiation without increasing exposure to healthy tissue.
Speaker Change: We call this manufacturing universal we do so.
Laurent Levy: We do so... Because it's based on physics, and all radiation interacts with the nanoparticle and not on the specificity of the tumor type or the biology of the patient. This mode of action also lends itself to MBTXR3's ability to be combined with many other modes of therapy, including chemotherapy, regimen, targeted therapy, and importantly, immuno-oncology therapy. NBGXR3 is being evaluated as a therapeutic candidate with potential to easily integrate into the cancer treatment paradigm for 60% of college mall patients who receive radiation as part of their therapeutic regimen each year. Today, MBTXR3 has been injected into hundreds of patients by leading physicians at several preeminent clinical research institutions in the United States, Europe, and Asia.
Speaker Change: Because it's based on physics and authorization interact with the nanoparticle and not on the specificity of the tumor types all the biology of the patients.
Speaker Change: This manufacturing also Lang.
T cells to ametek's arteries ability to be combined with many of their mode of therapy, including chemotherapy regimen targeted therapy, and importantly, immuno oncology therapies.
Speaker Change: <unk> three is being evaluated as a therapeutic candidates with potential to easily integrate into the cancer treatment paradigm for 60% of college more patient will receive radiation as part of their to recreate Richard each year.
Speaker Change: To date <unk> has been injecting and rate of patients by leading physicians at several preliminary clinical research institution in the United States, Europe and Asia too.
Laurent Levy: To help enable the practice-changing potential of NVTXR3, in collaboration with the Interventional Oncology Group at Johnson & Johnson, the current NVTXR3 development program is initially focused on the completion of NanoRay 312, an ongoing pivotal phase 3 evaluating the radiodenser for elderly patients with locally advanced head and neck cancer, as well as the launch of a randomized phase 2 study evaluating NVTXR3 for patients with stage 3 non In preparation for potential regulatory submission in the event of a positive head and neck trial result, Nanobiotix and Johnson aligned at the Collaborations Joint Strategy Committee, or GSC, to transfer the global sponsorship of the phase 3 pivotal head and neck cancer trial. Nanobiotix will continue to support Sienson in the execution of Nanowire 312 during and after the sponsorship transfer is complete. This was a deliberate decision to pursue the transfer sooner rather than later because we believe it's the best decision for the product's value and its efficient path to market.
Speaker Change: To enable the practice changing potential of Mdx lottery in collaboration with the Interventional oncology group at Johnson <unk> Johnson. The current LBJ property development program is initially focused on the completion of <unk> and ongoing pivotal phase III evaluating the right Duane answer for elderly patients.
Speaker Change: Luckily <unk> head and neck cancer as well as the launch of a randomized phase II study evaluating <unk> for patients with stage III non small cell lung cancer for which <unk> is fully responsible in preparation for potential regulatory submission in the event of a positive in our neck trial results and antibiotics and Janssen aligned.
Speaker Change: At the collaborations John strategy Committee, our GSE to transfer to devote sponsorship of the phase III pivotal head and neck cancer trial now.
Speaker Change: And antibiotics will continue to support center and in the execution of the <unk> hundred 12 during and after the sponsorship transfer is complete.
Speaker Change: This was a deliberate decision to pursue the transfer sooner rather than later because we believe it's the best decision for the products value and insufficient faster market in conjunction with the sponsorship transfer following discussions that began in late 2023, the giant strategy committee aligned to modification to nano rates with <unk>.
Laurent Levy: In conjunction with the sponsorship transfer, following discussions that began in late 2023, the Joint Strategy Committee aligned to a modification to Nanowire 312 that includes a protocol amendment removing the planned utility analysis in light of the robust positive top-line data from the expansion part of the Study 102, a Phase I study evaluating NB-TXR3 in similar populations, which provided satisfactory support for the Nanowire 312 trial design, which deemed the fut This amendment is subject to review and approval by health authorities in all countries where Nanowire 312 is operational, as well as by the site participating industry. To date, the amendments have been accepted by health authorities in several regions, including the United States, countries in Europe, and Japan.
Speaker Change: Does that include a protocol amendment, removing the planned futility analyses in light of the robust positive top line data from the expansion part of the study one or two a phase one study evaluating <unk> in a similar population, which provided satisfactory to both for the mineralized <unk> trial design, which they did in the <unk>.
Speaker Change: Utility and ours is not useful this amendment is subject to review and approval by health authorities in all countries. We are in an hour tweaks.
Speaker Change: His operational as well as by the sites participating in the study to that the amendment has been accepted by health authority in several regions, including United States countries in Europe and Japan.
Laurent Levy: Additionally, Nanobiotix and Jensen agreed to a change in the approach to the planned interim efficacy analysis, such that Jensen will realize and report on the interim data after both the requisite number of events are observed and at the end of the recruitment as it occurs, which is expected in the first half of 2020, rather than immediately after the requisite number of events as originally planned. This revised approach helps to ensure that potentially positive interim analysis results do not introduce a potential bias in the remaining recruitment prior to completion of the study.
Speaker Change: Additionally, another biotech financing agreed to a change in the approach to the planned interim efficacy analysis, such as Janssen, we realize on a report on the interim data after both the requisite number of events are observed in at the end of their equipment care, which is expected in the first half of 2026.
Speaker Change: Rather than immediately after the requisite number of events at originally plan.
Speaker Change: This revised approach helped to ensure that potentially positive interim analyses will do not introduce a potential bias in the remaining of equipment prior to completion of the study as.
Laurent Levy: As such, Nanobiotix now expects the interim analysis to be reported after the last patient is recruited in H1 2020. Now, let's review other significant progress on our NBTX-Va3 collaboration with Jensen in establishing development operations since executing the Global Licensing Agreement this July. We started with the formation of the Joint Strategy Committee, comprised equally of executives from both companies to drive strategic decision-making for the global development program.
Speaker Change: As such no biotech not expect the interim analyses to be reported after the last patient is recruited in <unk> 'twenty 'twenty six.
Speaker Change: Now, let's review other significant progress on our <unk> collaboration with Janssen in establishing development operation since executing the global licensing agreement. This July.
We started with the formation of the joint strategy Committee comprised equally of executive from both company to drive strategy and decision, making for the global development program. We also activated John working team that are staffed by both company with an initial focus on manufacturing and preparing <unk> 12 from <unk> global.
Laurent Levy: We also activated joint working teams that are staffed by both companies with an initial focus on manufacturing and preparing NanoRay 312 for global regulatory submission in the event of positive trial results. In addition to establishing governance methods, key operational progress has been achieved. Highlights include, first, Jensen has begun replicating the nanobiotics manufacturing process to allow Johnson & Johnson to produce NBT XR3 in parallel with our own facility in order to increase product availability.
Speaker Change: Regulatory submission in the event of positive five levels.
Speaker Change: In addition to establishing a balanced metrics key operational progress has been achieved.
Speaker Change: <unk> include first Jensen at began replicating and antibiotics manufacturing process to Allo transplant Center project in <unk> III in parallel with our own facility in order to increase product availability.
Laurent Levy: To go on, we have started to leverage increased discretionary in-kind contributions that were allocated from Janssen to Nanobiotix that include staff support for Nanoware 312, along with payments for manufacturing, technical assistance, and other product development support services. Third, we achieved the first operational milestone for NanoRay 312, triggering a $20 million payment in May from Jensen to Nanobiotix.
Speaker Change: So we have started to leverage increased discretionary income contribution that way I look at it from Janssen to antibiotics that includes tax report form in our 2012, along with payment for manufacturing technical assistance and other product development and support services.
Speaker Change: Third we achieved the first operational milestone in <unk> III trial, triggering a $20 million payment in may from Janssen to antibiotics.
Laurent Levy: Then, the U.S. FDA issued a study may proceed later regarding the protocol for the Janssen-led phase 2 study for patients with phase 3 non-small cell lung cancer. Fifth, we begin elaborating the overall clinical development plan for MBTXR3, including new indications beyond head and neck cancer and non-small cell lung cancer. And lastly, Jensen consolidated global development and commercialization rights via the assignment to Jensen of the licensing agreement relating to China and other Asian markets and territories from our former Nanobiotix partner, Lianbio. As you have heard, we've made significant progress with Jensen, Advancing, and BTX Part 3.
Speaker Change: And the U S. FDA issued a steady may proceed letter regarding the protocol for the Janssen late phase II study for patients with phase III non small cell lung cancer.
Speaker Change: Before we begin elaboration of the overall clinical development plan for mdx artery, including new indications beyond cancer, and non small cell lung cancer, and lastly, Janssen consolidated global development and commercialization rights.
Speaker Change: The assignment to Janssen of the licensing agreement relating to China, and other Asian markets and territories from our former nonvoting spot Nally unviable.
Speaker Change: As you've heard we've made significant progress with Janssen advancing NVCA pottery.
Laurent Levy: It is key to understand that bringing a therapeutic candidate from concept to global registration is an exciting yet daunting proposition for any development stage biotechnology campaign, even those working within well-known asset classes with well-established development and regulatory pathways. That is why we believe that our global licensing agreement with Janssen was and continues to be the right move for the patient, for healthcare professionals, and for all the supporters of NBK's potential.
Is key to understand that bringing a therapeutic candidate from concept to global registration is an exciting yet daunting proposition for any development stage biotechnology campaign, even those working within a well known asset collective with well established development on a regulatory pathway that is why we believe that our global licensing agreement.
Speaker Change: We can send wagon continue to be the right move for the patients for healthcare professional and for all the supporters of MTX lotteries potential.
Laurent Levy: We are confident that the leadership of the Joint Strategy Committee will optimize the probability of success for Nanoraid 312. Importantly, our global licensing agreement with Janssen also includes plans to further evolve the NVT-XR3 development pipeline. These plans include an established framework for potential complementary co-development of relevant indications in the near, medium, and long term. The Joint Strategy Committee will recommend the next indication beyond the immediate operation priorities in head and neck and non-small cell lung cancer.
Speaker Change: We are confident that the leadership of John strategy Committee will optimize the probability of success from an already between 12 importantly, our global licensing agreement with <unk> also includes plans to further evolve the MD kicks off redevelopment pipeline.
Speaker Change: These plans include an established framework for potential complementary co development of relevant indication in the near medium and long term.
Speaker Change: The joint strategy Committee will recommend the next indication beyond the immediate operational priorities in head and neck and non small cell lung cancer.
Laurent Levy: Our current pipeline beyond stage 3 lung and locally advanced head and neck cancer has already shown the extensive potential of MDTXR3 and continues to progress. In our Iocombination program, MBTXR3 in combination with anti-PD-1 therapies for patients with recurrent or metastatic head and neck cancer that is naive or resistant to anti-PD-1 treatment with and without metastasis is being explored in two courses in study 1100, an ongoing nanobiotics-led phase one clinical trial that has completed dose escalation and is in ongoing dose extension. We expect to present initial data from the head and neck cancer trial extension court in Asco District.
Speaker Change: Current pipeline beyond stage, III lung and locally advanced head and neck cancer as already shown the expansion potential at <unk> and continues to progress.
Speaker Change: In our I O combination program <unk> in combination with anti PD, one therapies for patients with regiment, Amit expertise can make cancer that is nave are resistant to anti PD one treatment.
Speaker Change: And we talked about that study is being explored in two court instead of 11 Andrei.
Speaker Change: Ongoing antibiotics late phase one clinical trial that has completed dose escalation and ingoing dose expansion.
Speaker Change: We expect to present initial data from DRAM neck cancer trial expansion cohort at <unk>. This June.
Laurent Levy: The third quarter of this study, including patients with metastasis for multiple primary cancers, will be presented later in 2025. Expansion opportunities in additional cancer settings in the medium to long term are being investigated in several trials that are part of our ongoing collaboration with MD Anderson Cancer Center in Texas. These include Phase I studies that have completed dose escalation and are in ongoing dose expansion for locally advanced pancreatic cancer and inoperable recurrent lung cancer and an ongoing Phase I study in dose escalation evaluating NBTSR3 in combination with chemotherapy in patients with locally advanced esophageal cancer.
Speaker Change: The third cohort of the study, including patients with metastasis for multiple primary cancer will be presented later in 2025 expansion opportunity in additional cancer setting in the medium to long term are being investigated in several trials that are part of our ongoing collaboration with MD Anderson cancer Center in Texas.
This includes phase one studies that <unk>.
Speaker Change: Completed dose escalation and are in ongoing dose expansion in locally advanced pancreatic cancer and inoperable recommend for lung cancer and in an ongoing phase one study in dose escalation evaluating <unk> in combination with chemotherapy in patients with locally advanced <unk> cancer.
Laurent Levy: We expect multiple readouts from this study in the next 12 months. Additionally, several nanobiotics-led Phase I studies have been completed, with primary endpoints met in patients with hepatocellular carcinoma, with and without liver metastasis, and rectal cancer. Our main focus and priority for the MBTXR3 program is validating the safety and efficacy of radiotherapy activated in MBTXR3 and moving to global registration for locally-advanced head and neck cancer. This effort accounts for the majority of operational and financial resource allocations.
Speaker Change: We expect multiple readout from this study in the next 12 months. Additionally, several notice late phase. One study has been completed with primary endpoint met in patients with <unk> carcinoma, with and without liver metastasis and in rectal cancer.
Speaker Change: Our main focus and priority for analytics software program is validating the safety and efficacy of radiotherapy activated and EXL III and moving to global registration in locally advanced head and neck cancer.
Speaker Change: These efforts accounted for the majority of operational and financial resource allocation.
Laurent Levy: Nanobiotix expects to lead a new phase 2 randomized study in a new indication in due time once Nano-Ray 312 sponsorship transfer has been completed, additional funding has been secured, and approval has been confirmed by the Joint Strategy Committee. Now, let's turn to the promising future of nanobiotics beyond MDTX software. As the NBT XR3 program moves toward the ultimate goal of treating millions of patients with cancer around the world, through the execution of our study, both ongoing and planned, we are working to expand the impact of nanoparticle-based therapy in healthcare through continued early-stage development of our nanoparticle expertise, which includes two additional platforms, Curadyn and Oculus.
Speaker Change: And antibiotics expect to lead a new phase II randomized study in a new indication in due time once <unk> hundred 12 sponsorship transfer has been completed additional funding has been secured and approval has been confirmed by the recent John strategy Committee.
Speaker Change: Now, let's turn to the promising future of nano biotech beyond <unk> offering.
Speaker Change: As the MBT Eco fleet program move towards the ultimate goal of reaching millions of patients with cancer are around the world through the execution of our steady both ongoing and plan. We are working to expand the impact of nanoparticle based therapy in healthcare through continued early stage development of our nanoparticle expertise which include <unk> <unk>.
Speaker Change: Channel platform paradigm energy T lack MDT ex factory this platform App in the air in the making and we are excited to share some of our progress with you today.
Laurent Levy: Like MBTX R3, this platform has been years in the making, and we are excited to share some of our progress with you today. Pyridine has produced a nanoprimer and has its first product candidate, which is designed with specific physical and chemical properties to allow its nanoparticles to transiently occupy liver cells responsible for therapeutic clearance. These allow subsequently-delivered therapeutics to bypass the liver's clearance mechanism. This is intended to increase bioavailability and subsequent accumulation of the therapeutic in targeted tissue, thus allowing the medicine to do its work.
Speaker Change: Go ahead I'm as produce a nano primer has its first product candidate, which is designed with specific physicochemical properties to <unk> nanoparticle to transparently occupy lever still responsible for directly to Kieran.
Speaker Change: This below are subsequently delivered directly to bypass delivers clearance mchaney them.
Speaker Change: This is intended to increase bioavailability and subsequent accumulation of therapeutic and targeted tissue, thus, allowing the medicine to do its work.
Laurent Levy: These have the potential to see increases in the efficacy or decreases in the toxicity or reduction in the needed dose of subsequently administered medicine. The OQT platform is based on the principle that nanoparticle materials can interact with and influence neuronal networks via their electrical properties. The goal is to potentially enable modulation of malfunctioning neuronal networks toward a normal state. In particular, the reduction of neuronal hyperacceptability associated with neuropathic pain has been observed in both in vitro and mouse models with several nanoparticle candidates.
Speaker Change: <unk> has the potential to see increases in efficacy or decreases in the toxicity, a redemption, Indonesia dose of subsequently administered medicine.
Speaker Change: The operating platform is based on the principle that nanoparticle materials can interact with.
Speaker Change: And interference we run our network electrical properties.
Speaker Change: The goal is to potentially enable modulation of malfunctioning, Illinois network toward a normal state in particular, the reduction of neuronal hyperexcitability associate with neuropathic pain has been observing both in vitro and mouse model with several nanoparticle candidate, we expect to provide an extra.
Laurent Levy: We expect to provide the next update on plan and operation progress for the QADIM platform in the second half of 2024. As you heard today, we've made significant strategic and operational progress in our MDTX Part 3 Global Alliance weekend. This includes the intended sponsorship transfer of the Pivotal Nanorail 312 trial, modification of Nanorail 312 to optimize the regulatory pathway, and continued ongoing exploration of extension opportunities for MBKXR3 in other indications. These achievements validate the potential of our nanoparticle platform and strongly position us to expand our nanobiotics corporate strategy. We plan to allocate some of the expected proceeds from NBTXR3 to further develop our Curadam and OQT nanoparticle platforms to foster and enhance the long-term growth potential and value of nanobiotics.
Speaker Change: Dave can plan and operational progress for <unk> platform in the second half of 2024.
Speaker Change: As you heard today, we've made significant strategic and operational progress in our mdx artery global AD items with Janssen.
Speaker Change: These include the intended sponsorship transfer of the feedlot all nine of our 212 trial modification of the not the right way to optimize the regulatory pathway and continued ongoing exploration of expansion opportunities for <unk> in other indications.
Speaker Change: These achievements validate the potential of our nanoparticle platform is currently positioned us to expand our mental biotech corporate strategy.
Speaker Change: We plan to allocate some of the expected proceeds from <unk> software to further develop our paradigm in a protein nanoparticle platform to foster long term growth potential and value of mono biotech.
Speaker Change: We look forward to providing you updates along the way.
Operator: We look forward to providing you with updates along the way. With that, I will now ask the operator to begin the Q&A session. Operator?
Speaker Change: With that I will now ask the operator to begin the Q&A session operator.
Speaker Change: Okay.
Operator: Thank you. To ask a question, please press star 1 on your telephone and wait for your name to be announced. To restore your question, please press star 1 and 1 again. Please stand by while we compile the Q&A roster. We will now take the first question. Coming from the line of Jonathan Chan from Lear Inc. Partners, please go ahead.
Speaker Change: Thank you.
Speaker Change: Ask a question. Please press star one one on your telephone and wait for your name to be announced.
Speaker Change: We still your question. Please press star one on one again.
Speaker Change: Please standby, while we compile the Q&A roster.
Speaker Change: We will now take the first question.
Speaker Change: Okay.
Speaker Change: Coming from the line of Jonathan Chang from Leerink Partners. Please go ahead.
Jonathan Chan: Hi Guys, thanks for taking the questions. First question, can you discuss how you're thinking about strategies to extend the company's cash runway? And then second question, can you provide any color on the alignment process with J&J on a global development plan for NBTX R3, and when we might hear more on the potential medium to long-term opportunities?
Jonathan Chang: Hi, guys. Thanks for taking my questions. First question can you discuss how you're thinking about strategy is to extend the company's cash runway.
Jonathan Chang: And then second question can you provide any color on the alignment process with J&J on a global development plan for <unk>, three and when we might hear more on that on the potential medium to long term opportunities. Thank you.
Laurent Levy: Thanks Jonathan. So maybe we'll answer question number two before going to question number one. So and maybe before, let's give some context for this shift in sponsorship. I think when we put ourselves one year ago, the focus of the company was about getting the 312 to the interim readout as fast as possible. And that was the context in which we've been operating. Then, last July, we signed this deal.
Jonathan Chang: Thanks, Jonathan.
Speaker Change: Maybe let's answer the question number two.
Speaker Change: Before going to question number one.
Speaker Change: So and maybe before let's give some some context in this shift in sponsorship I think when we.
Speaker Change: If we put ourselves one year ago.
Speaker Change: Focus of the company was about getting the 312 to the interim read out as fast as possible.
Speaker Change: And I want the context in which we have been operating than last July we've been signing this deal and the whole idea of this deal being too with a new partner.
Laurent Levy: And the whole idea of this deal is to, with our new partner, make sure that we can reach the largest number of patients possible and to grow the pie and to grow the market, if I may say so. So we've been shifting from having all the focus on getting this interim readout as fast as possible to a focus which is enlarging the number of indications, like lung cancer, which is, again, a bigger market than head and neck, but also going in a more secure or de-risk way.
Speaker Change: Making sure that we can reach the largest number of patients possible.
Grow the pie and to go to market. If I may say, so we've been shifting from having all focused on getting this interim readout as fast as possible to focus which is enlarging the number of indications like heading the lung cancer, which is again, a bigger market than head and neck, but also to go in a more secure audio.
Laurent Levy: So that's why, along and around all this discussion we have had on what's the best timing to transfer the sponsorship, we ended up with this decision. So there have been some internal discussions, of course, at our partner level. Then there was an agreement at the GSC and then an endorsement by our board. So that was the process to get to this decision. And I think that there is a big question about why now versus later.
Speaker Change: Risk weight.
Speaker Change: So thats why along and around all this.
Speaker Change: The discussion we have had on what's the best timing to transfer the sponsorship we ended up in this decision. So there have been some internal discussion of course.
Speaker Change: At our partner level than they have been in agreement that the GSE and then an endorsement by our board so that had been the process to get.
Speaker Change: To this decision.
Speaker Change: And I think that is a desert.
Speaker Change: Question about why now versus later, so first of all in order to fall.
Laurent Levy: So, first of all, in order for JMJ to be able to register the product, start pre-market activity, and to launch the product effectively, they need to be a sponsor of this trial. So there was a choice to do it either now or after the interim readout. Given the work and the heavy lifting that represents such a transfer for a global trial with 500 patients, that would take months and months to get there effectively.
Speaker Change: <unk> to be able to register the product to start pre market activity and to launch the product effectively they need to be sponsor of this trial. So there was a choice to do it either now or after the interim readout.
Speaker Change: Given the.
Speaker Change: The work and the heavy lifting that we're presenting such a transfer for a global trial was 500 patient I would take months and months to get there effectively. So we felt the best thing to do is to do it now take the burden now and don't have the burden of pasta interim readout then after the interim readout assuming that.
Bart Van Rhijn: So we thought the best thing to do is to do it now, take the burden now, and not have this burden post-interim readout. Then, after the interim readout, assuming the data are positive, we can be fully focused on, and GenGec can be fully focused on, registering the product and starting all market activities. So that's the context in which we operate, and we've been, of course, doing this press release. Now, as you mentioned, this raises questions about the current cash runaway and financing, but maybe I'll let Bart answer that question.
Speaker Change: Data are positive we can be fully focused on and J&J could be fully focused on we're just starting the products and starting a whole market activities. So that's the context in which we operate and we've been of course doing this press release as you mentioned this is opening a question about.
Speaker Change: The current cash NOI on financing that maybe I'll, let Bob answer that question. Thank you.
Bart Van Rhijn: Thank you, Laurent. Thank you, Jonathan, for the question. Yeah, just to recap, we believe that it's an important step forward in de-risking the asset, positioning it for success, and re-optimizing its potential for the benefit of patients and HCPs. As we indicated in the press release, the cash flow runway is unchanged, and yes, it implies that we need to finance through the updated timeline that we communicated. That said, we have, you know, much data to deliver between now and the mid-2020s for the milestones that we shared in the PR, and based on prior study results, we look forward with conviction to sharing those updates.
Speaker Change: Thank you Jonathan for the question, Yes, just to recap we believe that.
Speaker Change: An important step forward and derisking of the ISS positioning us for success and really optimizing its potential for the benefit of patients and hcp's.
Speaker Change: Yeah.
Speaker Change: As we indicated in the press release, the cash runway has been changed and yes. It implies.
Speaker Change: We need to.
Speaker Change: Finance through the updated timeline that we communicated.
Speaker Change: That said, we have much data to deliver between now and mid.
Speaker Change: Mid of 2025 sort of to the milestones that we've shared in the PR.
Speaker Change: Based on prior study results, we look forward with conviction to sharing those updates.
Jonathan Chan: You know, like any other biotech, we have multiple options, and we're very confident that we will work through this. But, as you may appreciate, we cannot promise on either the timing or the compositional sizing of the milestones.
Speaker Change: <unk>.
Speaker Change: Is there any other biotech we have multiple options.
Speaker Change: We're very confident that we will work through this.
Speaker Change: And as you may appreciate we cannot message.
Speaker Change: Either the timing or.
Speaker Change: Or the compositional sizing of the milestones.
Operator: Understood. Thanks for taking my questions.
Speaker Change: Sure.
Speaker Change: Understood. Thanks for taking my questions.
Speaker Change: Thank you. Thank you.
Lucy Codrington: We will now take the next question. On the line from Lucy Codrington from Jefferies, please go ahead.
Speaker Change: We will now take the next question.
Speaker Change: From the line of Lucy Codrington from Jefferies. Please go ahead.
Lucy Codrington: Hi there, thanks for taking my questions. So just again, sorry, the transfer of the sponsorship, just in terms of what does the timing look like for that whole process? It sounds like you do expect it to be done. Before, then, now, the interim readout from the first half, 26. But I guess once that sponsorship is transferred, there's... J&J then take over financing for that trial, and therefore, that alone could help extend your cash runway were it to happen sooner rather than later.
Lucy Codrington: Hi, there thanks for taking my questions.
Speaker Change: So just again sorry.
Speaker Change: Tom.
Sure Justin.
Speaker Change: In terms of what's the time, what does the timing look like so that whole process.
Speaker Change: It sounds like you do expect it to be.
This fall that now the interim readout.
Speaker Change: From first half 'twenty shape, but I guess once that sponsorship is trumps that does.
Speaker Change: J&J then take to the financing of that trial.
Speaker Change: That alone could help extend your cash runway where it.
Happens sooner rather than later.
Lucy Codrington: Secondly, just your level of confidence in completing recruitment by first half of 26, and therefore the potential timing of that interim, and is there a minimum time after the completion of recruitment at which point that interim would need to take place? And then just in terms of the funding for the new indications that you might take into Phase 2. I guess that's on top of your commitment to run funding 312 or if J&J were to take over 312 that might free up some funds. Thank you. Thank you for everything.
Speaker Change: Yeah.
Speaker Change: Secondly, just your level of confidence in completing recruitment by first half 'twenty.
Speaker Change: And therefore, the potential timing of that.
Speaker Change: I have a minimum time after that.
Speaker Change: Completion of recruitment.
Speaker Change: Which point that into it.
Speaker Change: Uh huh.
Speaker Change: Would need to take place.
Speaker Change: And then just in terms of the funding for the new indications that you might take to phase two.
Speaker Change: I guess, that's on top of dual commitments to.
Speaker Change: Running something 301 to all.
Speaker Change: J J will take care of it should be on T.
Speaker Change: So you have some thoughts.
Speaker Change: Thank you.
Laurent Levy: So, first of all, the expected timing for the transfer of the 312. We're early in the process, as the intent has just been agreed in the past few days. So it will take time, that's for sure, but the intention, of course, is to complete it that way before the interim readout. That's the whole intention of making this transfer now.
Speaker Change: Thank you <unk>.
Speaker Change: So first of all that.
Speaker Change: The expected timing for the transfer of the <unk> 12.
Speaker Change: So we're early in the process have the intent has just been agreed.
And during the past few days so it will take time, that's for sure but the intention of course is to complete that way before.
Speaker Change: The interim readout, that's for all intention of making this transfer now.
Laurent Levy: Now, obviously, this will add some investment on the partner side. Now, we were just establishing what the joint plan is, not only to transfer the trial but to continue to run the trial up to the end, knowing that there will be no interruption of the trial during the transfer. That's the whole goal we're trying to achieve here.
Speaker Change: Now in terms of.
Speaker Change: Obviously this will have some.
Speaker Change: Investment.
Speaker Change: Partner side now, we're just establishing what's the joint plan not only to transfer to trial, but to continue to run the trial up.
Speaker Change: Up to the end.
Speaker Change: There will be no interruption of the trial during the transfer.
Again, we're trying to achieve here so.
Laurent Levy: So for the financing part and how much this will cost Nano, how much it will cost our partner, we can't talk for our partner, but on our side, we think for now it's neutral. We might look at it in the future as a bit positive, but we can't say more right now because we're, as I said, early in the process. So now to your second question about H1-26 to get the end of recruitment, I think that's a good estimate that we could qualify as a biotech as a conservative estimate, but we think given the experience of recruitment we have had so far, plus what we expect to improve recruitment with the involvement of a partner, we should be able to reach this target.
Speaker Change: So for the financing part on how much this will cost to nano much will cost to a partner and we can talk for partner, but on our side, we think for now it's neutral.
Speaker Change: Look at it in the future to be a bit positive, but we can't say more right now because we as I said early in the process.
Speaker Change: So now to your second question about <unk> hundred 26 to get the equipment.
Speaker Change: That's a good estimate.
Speaker Change: That we could qualify as a biotech as conservative estimate, but we think given the experience of recruitment. We have had so far plus what we expect to improve the recruitment with the involvement of a partner we should be able to reach this target that's within <unk>.
Laurent Levy: So now, you asked a question about how the interim will play versus the last patient in and the timing for that. So we expect, of course, to get the 283 event before, of course, the end of recruitment. And there's plenty of work that could be done prior to triggering the interim, per se. So, talking theoretically here, because we, again, can't talk for our partner, the idea would be to be ready to just push the button and to have the last patient in and the interim readout for the tryout.
Speaker Change: Possibility.
Speaker Change: So now.
Speaker Change: You asked a question about how the interim will play versus the last patient in and timing for that so we expect to.
Speaker Change: To get the 280 <unk> before of course at the end of our equipment.
Speaker Change: And there's plenty of work that could be down.
Speaker Change: Now to trigger.
Speaker Change: The integration per se.
Speaker Change: Talking theoretically here, because we again can't talk for our partner <unk> will be to be ready to just push a button and to have almost concomitant loss.
Speaker Change: Last patient in and.
Speaker Change: <unk> interim readout for that trial.
Laurent Levy: So your first question, if I recall correctly, was about new indications and how we select and move forward in that direction, and what about finance. First of all, I think that overall in our plan, including the transfer of the 312, there's still a lot of work to be done here. So we don't expect to have opening bandwidth from the team within the period of the transfer because we'll be heavily working on that versus what we're doing today already.
Speaker Change: So.
Speaker Change: Are they a sub question if I recall correctly was about new indication in how we select and.
Speaker Change: Move forward in that direction and what about the findings first of all I think that overall in our plan, including the transfer of the <unk> 12, there's still work to be done here. So we don't expect to have opening bandwidth from the team.
Speaker Change: Within the period of the transfer.
Speaker Change: Because we will be heavily working on that versus what we are doing today already but the new indication I think we have a large pipeline today showing all the possibility of at least a big part of the possibilities of MBT XR tree.
Laurent Levy: But the new indication, I think we have a large pipeline today showing all the possibilities or at least a big part of the possibilities of NVTxR3. And based on that and some other considerations, we will define what could be a new indication for Nanobiotix.
Speaker Change: And based on that and some other consideration we will define what could be a new indication on antibiotics and the goal here being when we start freeing up some bandwidth of the team when the transfer is complete then we could start thinking about having a new.
Laurent Levy: And the goal here being when we start freeing up some bandwidth of the team when the transfer is complete, then we could start thinking about adding a new trial. And this will, of course, depend on potential additional funding and at a later stage when the milestone payment comes from also the contract we have with J&J. So we'll keep you updated on that, obviously, and over time, we can start building all the next opportunities we have for NVTxR3, but also, as we mentioned, in the PR beyond NVTxR3.
Speaker Change: You try out and this will of course, the pan on potential additional funding and and at a later stage when the milestone payment coming from also the contract we have with our with J&J.
Speaker Change: So.
Speaker Change: We will keep you update on that obviously hand over time, we can start building all the next opportunity we have flying Gtx, our trade, but also as we mentioned in the PR beyond NB Gx offering.
Speaker Change: Thank you.
Speaker Change: You May proceed.
We will now take the next question.
Operator: We will now take the next question. Coming from the line of Suzanne Van Voorhuizen from Van Lanskoot Kempen, please go ahead.
Speaker Change: Coming from the line of Susan towards Jason from Lance <unk> Kempen. Please go ahead.
Chiara Monteroni: Hello, this is Chiara Monteroni. I'm on behalf of Susanne. Thanks a lot for taking my question. I have two questions, if possible. The first one will be, can you provide some color on how imminent Phase II in lung cancer will be? And if it's not imminent, what are the gatekeeping items here? And the second question is more about the new programs, the new platform, Cura Diamond OQT. Which kind of updates should we expect in H2O24? How concrete is that? Are you already working on some product candidates? Thank you.
Scott: Hello. This is Scott I'm wondering Dani I'm on behalf of Amit. Thanks, a lot for taking my question.
Speaker Change: Two questions. The first one will be.
Scott: Can you provide some color on how you mean, it will be the phase III lung cancer.
Scott: And it is not imminent, which are keeping it.
Scott: And the second question was more about the new programs, the new blocks fourth quarter Diamond of Judy.
Speaker Change: Which kind of updates should we expect <unk> to 'twenty four how concrete is that are you already working on some product candidates. Thank you.
Laurent Levy: So, about lung cancer, which is the randomized phase 2 trial that J&J is going to run, we've been publishing recently a good update explaining that FDA got the green light about the protocol design, and obviously, that's going to trigger a number of activities and work around that by our partner. So we can say more at that stage, but has... Time always counts in what we do. Then you can imagine that everyone is working heavily to get that done and started as soon as possible.
Speaker Change: Thank you.
Speaker Change: And so about lung cancer.
Speaker Change: Is the randomized phase II trial that J&J is.
Speaker Change: It's going to run we've been publishing a essentially a good date explaining that FDA.
Speaker Change: Got the Green line I'll get the Green light about the protocol design and obviously, that's going to trigger a number of activities and work around that by our partner. So we can say more at that stage, but had.
Speaker Change: Time always comps and what we do then and you can imagine that or the warning is working our ability to get that done and Scott as soon as soon as possible, but I think we'll be able to give some updates over time.
Laurent Levy: I think we'll be able to give some updates over time in agreement with our partner about the development of this clinical trial. Now, for the question on Curadigm, the expected update we want to give in H2 is about how we're going to build a strategy and a business model around this new platform, which could give not only one product but multiple products, and, in any case, multiple applications in different therapeutic areas.
Speaker Change: In agreement with our partner about the development of this this clinical trial.
Speaker Change: Now for the question on <unk>.
Speaker Change: The expected update we wanted to give again in H. Two is about how are we going to build a strategy and business model around this new platform.
Speaker Change: Which could give not only one product multiple products and in any case most.
Multiple applications in different therapeutic area. So as I think I have mentioned in the <unk>.
Laurent Levy: So, as I think I have mentioned in the past few calls, this is a technology that offers many, many opportunities. And some of the key things and key questions we would like to answer and discuss with you in H2 are how we're going to build a sustainable business model with all the different possibilities we have with this type of technology, both in internal development and, of course, external collaboration and business development activities. Now, to your question, do we already have a lead in this technology? Yes, we have multiple products that could be used to continue to develop this platform. But obviously, we will give you much more on that in H2.
Speaker Change: Past few calls that's a technology that offers many many opportunities and some of the key thing in key question, we would like to answer and discussed with you in edge to it how are we going to build.
Speaker Change: Our sustainable business model with all different possibility, we have with this type of technology, both from internal development and of course external collaboration and business development activities now to your to your question do we have already.
Lead in this.
Speaker Change: Technology, Yes, we have multiple.
Speaker Change: Product that could be used to continue to develop this platform, but obviously, we will give you much more on this in X gene.
Chiara Monteroni: Okay, thank you very much.
Operator: Thank you. We will now take the next question, from the line of... Swayampakula Ramakanth from HCW. Please go ahead.
Speaker Change: Okay. Thank you very much.
Speaker Change: Thank you. Thank you.
Speaker Change: Okay.
Speaker Change: We will now take the next question.
Speaker Change: From the line of.
Speaker Change: Scott.
Speaker Change: Cooler from comes from H C. W. Please go ahead.
Swayampakula Ramakanth: Thank you. This is O.K. from Hetfield Android. Good afternoon, Laurent.
Okay. Thank you this is okay for them.
Speaker Change: Right.
Speaker Change: Good afternoon.
Swayampakula Ramakanth: Just on the long term, thinking about Q2 Diamond or QT, you have certainly generated a lot of validation on your NVTX-R3 program. And how much of that validation can be transferred to these two new nanoparticle platforms? The reason for that question is, can you point to NVTX-R3 if a partner comes in and wants to talk about either Curidimer or Acuity? Is that enough, or do you need to generate data only with that sort of data? Would a partner actually sit at the table?
Speaker Change: Just first on the long term.
Speaker Change: I'm not sure that I'm, an urge Judy.
Speaker Change:
So you are certainly generated a lot of validation on your <unk> program.
Speaker Change: How much of that.
Speaker Change: The allegation can get transferred into these two new nanoparticle platforms.
Speaker Change: And part of that question is can.
Speaker Change: Can you point to.
Speaker Change: I'll see if my apartment.
Speaker Change: To talk about either cure, a dime or Judy.
Speaker Change: Alright.
Speaker Change: Are you.
Speaker Change: We need to generate data.
Speaker Change: I'll leave it at that sort of data.
Speaker Change: Actually we sit at the table.
Laurent Levy: Thank you, Ake. That's a good question.
Speaker Change: Thank you RK.
Laurent Levy: Maybe just before I answer this question, I just want to reiterate that on NBT XR3, we still have a lot of work to do, and there is a lot of untapped value for this first product within the collaboration we have, and the primary focus of this collaboration and the company is to make that work. And also to get the value of this product and this collaboration recognized in the value of the company.
Speaker Change: That's a good question.
Speaker Change: Maybe just before I answer. This question just want to reiterate that on and BTA country. We still have a lot of work to do and there is a lot of untapped value for this first product.
Speaker Change: Within the collaboration we have and the primary focus of this collaboration being in the company being to make that work and also to get the value of this product and collaboration are recognized in the value of the company now we are starting building the future as we've been discussing that and in terms of paradigm of AR.
Laurent Levy: Now we're starting to build the future, as we've been discussing that. And in terms of the paradigm of acuity, there is a broader validation that Oxfod is bringing. It is the introduction of nanophysics-based modification into healthcare. Now, as all products are different and have different therapeutic applications, of course, we need to generate a number of data to get to a potential partnership, and so on. The main difference being that for both platform acuity and paradigm, we are talking here about a wide technology platform where we can not only work with the product and co-develop or license the product, but we could also start licensing part of the technology to partners for them to develop their own product. So again, there are multiple opportunities here from very short term to medium and long term. And that's what we intend to be able to explain to you in the second part of this year.
Speaker Change: There is a broader validation that our product is bringing the introduction of Nanophysics base multifunction into the healthcare.
Speaker Change: Now has all product are different and have different directly take applications of course, we need to generate a number of data.
Speaker Change: You too.
Speaker Change: Get to a potential partnership and so on the main difference being that for both platform or <unk> Im sure that we are talking here about a wide technology platform, where we can not only work.
Speaker Change: With products and co develop our licensed product that we could also soft licensing part of the technology to partners for them to develop their own product. So again, there is multiple opportunities here from very short term to medium and long term and thats, what we intend to to be able to explain to you in the second.
Speaker Change: Part of this year.
Swayampakula Ramakanth: So should we expect some sort of preclinical data from both Curidem and OQD? Not in the second half, but over the next, say, 12 months? Is, you know, are you trying to do this parallel track? I'm just trying to understand how you would be developing all three programs, albeit, you know, at different levels of development, of course.
Speaker Change: So should we expect.
Speaker Change: Some sort of a preclinical data from both geography, then Judy.
Speaker Change: It's not in the second half.
Speaker Change: But over the next 12 months.
I'm trying to do this parallel track or I'm, just trying to understand.
Speaker Change: It would be developing all three programs, albeit a different.
Speaker Change: Different levels of development of course.
Laurent Levy: Yes, without giving you any precise date for the second half, we'll be able to show you all this.
Speaker Change: Yes, we have.
Speaker Change: Giving you any precise data for second half, yes, we will be able to show to shareholders.
Swayampakula Ramakanth: Perfect. Thank you. Thank you very much.
Speaker Change: Yes.
Speaker Change: Perfect. Thank you. Thank you very much. Thank you okay. Thank you.
Operator: Thank you. There are no further questions. I will now turn the call over to Dr. Levy for his closing remarks.
Speaker Change: There are no further questions I will now turn the call over to Dr. <unk> for his closing remarks.
Laurent Levy: Thank you. And maybe before I make some closing remarks, I just want to remind the audience that we have published, and we will present at ASCO, our data on the immuno-oncology program with our lead product, MBTXR3. And we think this data and this specific application of MBTXR3 are very important in regards to opening new doors and also potential new indications for nanobiotics.
Thank you and maybe before I make some closing remarks, just want to remind you.
Speaker Change: Against that we have been publishing that we will present at <unk>.
Speaker Change: All data on the immuno oncology program with our lead product <unk> country, and we think this data is.
Speaker Change: Specific application of Mdx Altra is very important in regards to opening new doors and also potential new indication for fund antibiotics. So.
Laurent Levy: So I hope to see you on that call when we will disclose, explain, and discuss the data. And on that note, I'm going to thank you and wish you a very good day and rest of the week. And let's stay tuned for the next piece of news that will come in the coming few days. Thank you very much. Have a great day.
Speaker Change: I hope to see you at the core when we will disclose and explain and discuss the data and on that note I'm going to thank you and wish you a very good day and rest of the weekend unless let's stay tuned for the next piece of news that will come in the coming few days. Thank you very much have a great data.
Operator: Ladies and gentlemen, this concludes today's presentation. Thank you once again for your participation. You may now disconnect.
Speaker Change: Ladies and gentlemen. This concludes today's presentation. Thank you once again for your participation you may now disconnect.
Speaker Change: Okay.
Speaker Change: [music].
Speaker Change: Okay.
Speaker Change: [music].
Speaker Change: Yes.
Speaker Change: [music].