Posted in | News | Nanotoxicology

NanoBio Awarded $2.4 million by the State of Michigan

NanoBio(R) Corporation, a biopharmaceutical company developing novel products for the treatment and prevention of serious infections, today announced that it has been awarded $2.4 million by the State of Michigan 21st Century Job Fund.

James R. Baker, Jr., NanoBio's Chairman of the Board and Chief Science Officer, commented, "We are very pleased to receive this award from the State of Michigan, and will be directing these funds towards the development of our drug candidate for the topical treatment of onychomycosis, a fungal infection of the fingernail and toenail. At present, the vast majority of people with onychomycosis are untreated as a result of the serious toxicities associated with the available oral medications. This funding will support our effort to bring a safe and effective topical treatment to market."

"Companies like NanoBio will drive Michigan's economy into the 21st century by building on our great entrepreneurial legacy - this is exactly the type of company we are working to grow in order to diversify our state's economy," said Governor Jennifer M. Granholm. "As a spin-out from the University of Michigan - one of our great research universities - NanoBio is making significant scientific contributions to society, attracting important capital to Michigan, and creating jobs for our workers."

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