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Posted: February 18, 2009
NanoBio Corporation Raises $12 Million in Series B Financing
(Nanowerk News) NanoBio Corp., a biopharmaceutical company developing dermatological products, anti-infective treatments and intranasal vaccines, announced today that it has acquired $12 million in series B equity financing with Perseus LLC and other existing investors. To date, over $80 million in funding has been directed toward the development of the company's NanoStat™ technology platform.
The series B funding will be used by the company to complete a phase 1 study investigating a novel topical treatment for acne, preclinical studies on a nebulized therapy for cystic fibrosis, and a phase 1 study for an intranasal seasonal influenza vaccine.
This funding follows several recent product announcements by NanoBio, including:
Phase 2b data indicating that the company's topical herpes labialis product speeds healing as effectively as the leading oral systemic drugs but without safety or toxicity concerns
Preclinical data demonstrating that the company's novel nanoemulsion technology kills highly resistant bacteria found in patients with cystic fibrosis
Preclinical data indicating that a single administration of NanoBio's novel intranasal influenza vaccine elicits immune responses in ferrets more than 20 times higher than those generated by two injections of currently approved vaccines
"We are pleased with the continued, strong support of Perseus and the company's other investors," said James R. Baker Jr., M.D., founder and chairman of NanoBio Corp. "Based upon the strength of our recent data and our future development plans, there was significant interest from investors with respect to participating in this financing despite the challenging economic conditions."
NanoBio® Corp. is a privately held biopharmaceutical company focused on developing and commercializing dermatological products, anti-infective treatments and intranasal vaccines derived from its patented NanoStat™ technology platform. The company's lead product candidates are treatments for herpes labialis (cold sores), onychomycosis (nail fungus), acne, cystic fibrosis and a broad platform of intranasal vaccines. The company's headquarters and laboratory facilities are located in Ann Arbor, Michigan.