NanoBio Corp., a biopharmaceutical company
developing dermatological products, anti-infective treatments and intranasal
vaccines, announced today that it has closed a $22 million Series B financing
round after recently securing an additional $10 million investment from NanoBio's
majority shareholder Perseus, L.L.C., based in New York, N.Y., and Venture Investors
of Madison, Wis., and Ann Arbor, Mich. The $10 million is in addition to the
$12 million Series B funding announced in February 2009. To date, NanoBio has
received more than $90 million in equity and grant funding to support the development
of the company's anti-infective products and nanoemulsion-based vaccines.
“This investment round secures our ability to independently fund the
next two years of our operations,” commented James R. Baker, Jr., MD,
NanoBio's CEO and founder. “Our investors see the tremendous value
of our platform technology from both a medical and commercial perspective. There
is a clear need for novel topical anti-infective therapies and new vaccine-adjuvant
approaches that offer safety, ease of use and enhanced efficacy.”
The funding will support the advancement of numerous clinical and preclinical
programs, including the development of products for herpes labialis, onychomycosis,
acne and cystic fibrosis as well as intranasal vaccines for seasonal influenza
and other diseases. The company will begin a Phase I clinical study in acne
this summer and is planning to initiate a phase III study in herpes labialis.
In addition, the company is currently conducting a Phase I clinical study in
NB-1008, a seasonal influenza vaccine administered via a nasal dropper.
NB-1008 uses a novel nanoemulsion-based adjuvant to achieve a robust immune
response using only a small fraction of the antigen required by currently available
injectable vaccines. In numerous animal studies, NB-1008 has demonstrated robust
mucosal, systemic and cellular immunity without inflammation or safety concerns.
“NanoBio is a compelling investment choice, offering a strong scientific
basis supported by promising ongoing trial results,” commented George
Arida, managing director for Venture Investors' healthcare practice. “At
a time when investors have a multitude of good companies seeking financing,
we are selectively backing those with strong management teams and novel technology
that have the potential to create significant change in the healthcare landscape.”