Nanobiotix is a clinical-stage biotech built around one lead asset: JNJ-1900 (formerly NBTXR3), a nanoparticle-based cancer treatment designed to amplify the effect of radiotherapy. JNJ-1900 consists of hafnium oxide nanoparticles injected directly into a tumor before standard radiation; the nanoparticles absorb radiation energy and generate more cell-destroying free radicals within the tumor, without increasing damage to surrounding healthy tissue. The product works with existing radiotherapy equipment, requiring no new hospital infrastructure. Early data also suggest JNJ-1900 may activate an immune response, potentially making tumors more responsive to checkpoint inhibitor immunotherapies. Nanobiotix has licensed worldwide development and commercialization rights to Johnson & Johnson (via Janssen) in a deal worth up to ~$2.6B in milestones plus tiered royalties in the low-teens to low-20s percentage range on net sales. Nanobiotix retains manufacturing responsibilities and certain co-development roles. The company is pre-commercial and currently generates revenue through milestone payments, clinical supply and technology transfer services billed to J&J, and French research tax credits. The lead clinical program is NANORAY-312, a pivotal Phase 3 trial in elderly head and neck cancer patients ineligible for standard chemotherapy, with enrollment complete and now sponsored by J&J. Lung cancer is the second priority, with a randomized Phase 2 trial ongoing. Beyond JNJ-1900, Nanobiotix is developing two earlier-stage, wholly-owned platforms: Curadigm, a nanoparticle system designed to improve drug delivery of IV therapeutics, and OOcuity, an early-discovery platform targeting neurological conditions.