Nanobiotix S.A. Q2 FY2023 earnings call

• Partnership with Janssen: Global license agreement for NBTXR3, with near-term access to up to $60 million and long-term potential over $1.8 billion in milestones. Received $30M upfront and $5M equity from Janssen. • Appointment of CMO: Dr. Louis Kayitalire joined to advance clinical programs. • Clinical progress: Ongoing trials for NBTXR3 in solid tumors, including NANORAY-312 Phase 3 trial in head and neck cancer, Study 102 Phase 1 in head and neck, IO combination trials, and collaboration with MD Anderson on multiple trials. • Financial benefits: Agreement with Janssen provides near and long-term value, strengthening balance sheet and cash runway.

For the six months ended June 30, 2023, revenue and other income was EUR3.3 million compared to EUR1.3 million for the same period in 2022. R&D expenses were EUR17.8 million in 2023 vs. EUR16.6 million in 2022. SG&A expenses were EUR10.9 million in 2023 vs. EUR9.6 million in 2022. Net loss attributable to common shareholders was EUR28.1 million in 2023 vs. EUR26.4 million in 2022. As of June 30, 2023, cash and cash equivalents were EUR21.6 million.

• Anticipate cash runway extending into Q1 2024 with current cash and Janssen payments. • Discussions with EIB aim to remove cash covenant, expected in Q4 2023. • Upcoming data: Final Phase 1 data in head and neck cancer and initial Phase 1 dose escalation data in pancreatic cancer in coming weeks. • 2024 milestones: Interim results for NANORAY-312 Phase 3 trial in head and neck cancer in second half of 2024.

• Significant risks from forward-looking statements, including clinical trial outcomes, regulatory approvals, and market acceptance. • Uncertainties in achieving milestone payments and commercial success of NBTXR3.

Q: Just ahead of the pancreatic cancer data in the coming weeks, outline what to expect; when can we expect J&J's in-kind support for 312; insights into J&J's commitment to IO combination.

A: Pancreatic data will include safety and initial efficacy measures. In-kind support from J&J for 312 is at their discretion, with ongoing work to finalize plans. J&J has authority over regulatory matters for IO combination, with ongoing discussions on next steps.

Q: Ahead of the pancreatic cancer data, outline what to expect from that; read through from Study 102 data to NANORAY-312.

A: Pancreatic data will include safety and first signs of efficacy. Study 102 data will provide final efficacy readout, including response rates, durations, which will inform NANORAY-312 Phase 3 trial.

Q: Question regarding Hensify in soft tissue sarcoma and LianBio's commitment to registrational trials.

A: J&J conducted due diligence on Hensify, with commercial plans to be discussed later. LianBio is committed to five registrational trials, with ongoing discussions on further collaboration in Asian populations beyond the LA head and neck program.