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NanoBio Nets $30 Million Equity Investment

Posted on: Tuesday, 8 August 2006, 15:00 CDT

Private biopharmaceutical firm NanoBio Corporation has secured a $30 million equity investment from private equity fund manager Perseus LLC that will enable the company to advance multiple product candidates from its growing pipeline.

NanoBio has developed multiple topical anti-infective products and vaccine candidates derived from its patented NanoStat technology platform. Products developed from the technology have a unique ability to penetrate skin and mucosa to treat topical infections without harming normal cells in the body. The technology platform also has the potential to inactivate and deliver microbial antigens as a mucosal vaccine.

The company's lead product candidates include NB-001 - a treatment candidate for herpes labialis (cold sores), NB-002 - a treatment candidate for onychomycosis (nail fungus), and NB-006 - a mucosal vaccine for influenza.

"We made this investment because NanoBio is uniquely positioned to develop major new drugs and vaccines to treat infectious diseases," said Norman Selby, senior managing director of Perseus. "Infectious diseases are an increasing medical problem due to organisms that have become resistant to current drugs, major infections in an aging population and novel pathogens that are constantly emerging...Our goal with this investment in NanoBio is to build a leading biotechnology company with a broad portfolio of new pharmaceutical products to treat these types of infections."

Source: Datamonitor

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