NanoBio is announcing later this morning that it closed a $22 million Series B after its major shareholder, Perseus, and Venture Investors put up an additional $10 million. The money gives the Ann Arbor, MI-based biotech a two-year runway to continue to develop a range of dermatological products, anti-infective treatments and intranasal vaccines currently in its pipeline.
CEO James Baker tells FierceBiotech that the new round should give the company time to get its first product to an OTC market. He adds that NanoBio is nearing its fifth IND--for another dermatological product--and is also engaged in discussions for its first licensing deal.
"We're deep in those discussions on the first product," says Baker. "We expect that should happen in the first couple of months."
NanoBio has some ambitious development plans, including an early-stage trial in acne expected to launch this summer with a late-stage trial scheduled for herpes liabilis. The developer is also engaged in a Phase I trial for NB-1008, an intranasal seasonal flu vaccine.
The new plans and added venture funds are likely to drive new hiring, adds Baker. Currently operating with a staff of 20, the CEO says that NanoBio is likely to hire an additional 10 to 15 people over the next two years. NanoBio was a 2008 Fierce 15 company.
- check out NanoBio's release
ALSO: Fremont, CA-based Zosano Pharma bagged a $30 million venture round led by Nomura Phase4 Ventures. The developer is advancing products based on its transdermal delivery technology. All of the company's existing venture investors, including New Enterprise Associates, HBM BioVentures and ProQuest Investments, participated. Zosano release
PLUS: Allostera Pharma rounded up $17 million for its Series A. The company is working on Allosteramers, a new class of oral drugs designed to be highly specific for their targets. Release