ChinaBio Today -- Suzhou Natong BioNanotechnology Ltd. (Nanomed) announced it signed a funding agreement with Softbank’s SB China Venture Capital (SBCVC) (see story). In August 2009, Nanomed won the “Most Promising Company” Award in the Medical Device field at the BioBay Investor Forum co-organized by ChinaBio® LLC and the Suzhou BioBay life science park. Nanomed’s FMA™ Intradermal Drug Delivery platform is based on nanoscale MEMS (micro-electro-mechanical) technology. Immediately after closing the funding, Nanomed signed an agreement with an outside company to distribute Nanomed’s Liteclear acne products. Financial details of the funding were not disclosed.
