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July 8, 2009

Perseus, LLC Leads Investment of $22 Million in Series B Funding for NanoBio

Filed under: Venture Capital News — admin @ 12:44 pm

Based in Ann Arbor, Michigan, leading vaccine maker, NanoBio announced today that it had closed $22 million in series B funding with its major share holder, Perseus, LLC committing $10 million to the funding round.

NanoBio is a company that designs revolutionary vaccines for the healthcare industry in the United States and Canada. NanoBio is a private company that was founded by professors at the University of Michigan’s Medical School with the sole intent to develop and commercialize biological dermatological products and anti-infective vaccines. The vaccines that NanoBio produces are all based on NanoBio’s patented NanoSat platform, which is developed on nano biotechnology. Many of the biological dermatological products that NanoBio produces are for effective treatments of common skin ailments, such as cold sores and acne. Vaccines that are being developed by NanoBio include the nasal flu vaccine and vaccines that treat genetic disorders, such as cystic fibrosis.

According to Dr. James R. Baker, Jr., NanoBio’s CEO; the funding that NanoBio has just secured the company’s ability to independently fund its operations for the next two years. Furthermore, the company’s investors see the potential in NanoBio’s products and the value of the company’s platform technology. Furthermore, the medical needs keep being more and more apparent that new technologies and vaccines are needed for genetic disorders. Some of these vaccines may not necessarily be injectable, but many are nasal vaccines, making them safer and more effective.

Proceeds from this round of funding will go to further advance clinical and preclinical trials of new products that NanoBio is producing, which are effective treatments for herpes labialis, acne and cystic fibrosis. This summer NanoBio plans to enter Phase I of clinical trials for acne, and Phase III of clinical trials for herpes in the fall of this year.

According to George Arida, managing director for Venture Investors, NanoBio is very attractive to investors because of its unique technological platform and strong scientific basis, as well as promising results from its research. Currently we are in a time where the financial climate is not the best, so the need for companies with outstanding management and novel technology are imperative for investors to get more bang for their buck. NanoBio fits into all these criteria and therefore the investments keep coming in. Furthermore, NanoBio’s biological dermatological products and anti-infective vaccines have the potential to drastically change the healthcare industry.

For more information about NanoBio, click here.

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