Nanomedicine pioneer Nanobiotix (EPA:NANO) said its first half to end June had surpassed expectations.
In the rest of 2014, the company expects to see further progress at the clinical and preclinical level, with a major focus being the preparation of the registration phase of the company’s lead product - NBTXR3, it said in the results statement.
NBTXR3 is a ground-breaking cancer treatment, which is targeted directly into cancerous tumours to enhance the effect of the radiotherapy.
The firm expects it to receive European approval in 2016.
Laurent Levy, chief executive, said: “At the beginning of this financial year, we flagged 2014 as pivotal to the company.
"Events in H1 have already demonstrated this, with a significant capital raising, and the publication and presentation of successful clinical results for our lead product at the annual ASCO conference.
"We have also accelerated our clinical development plans for launch of NBTXR3, aiming to obtain CE marking in 2016. We have the necessary funds and shareholder support following the oversubscribed €28.1m capital raising in Q1.
"In the second half of the year, we will continue to focus on the progress of NBTXR3 and its international development. We will also be developing market access and reimbursement strategies of our product in preparation for launch."
Total revenue for the six months was £997,000 (2013: £666,000), while the net loss was £4.1mln (2013: £4.2mln).