ANN ARBOR, Mich., July 11 /PRNewswire/ -- 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.”
About NanoBio
NanoBio(R) Corporation is a privately-held biopharmaceutical company focused on developing and commercializing anti-infective products and mucosal vaccines derived from its patented NanoStat(TM) technology platform. The company’s lead product candidates are treatments for herpes labialis (cold sores), onychomycosis (nail fungus), methicillin resistant Staphylococcus aureus (MRSA) and mucosal vaccines for influenza and hepatitis B. The company’s headquarters and laboratory facilities are located in Ann Arbor, Michigan.
About the 21st Century Jobs Fund
The state of Michigan created the 21st Century Jobs Fund to provide funding support for companies that are leading the way in Michigan for new jobs in life sciences, alternative energy technology, advanced automotive/materials and homeland security/defense. Since 2006, this $2 billion, 10-year program has invested more than $240 million through competitive awards and venture capital funding in these four targeted high tech sectors.
NanoBio Corporation
CONTACT: John Coffey, Vice President, Business Development of NanoBioCorporation, +1-734-302-9107, john.coffey@nanobio.com
Web site: http://www.medthink.com//
