Six-year-old NanoBio has gained $30 million in new capital to help develop its nanoemulsion technology. Nanoemulsion involves microscopic sized droplets that are surface active which tear into the membrane of an infectious organism, killing it. It's first product for cold sores is poised to enter Phase III and researchers are also studying the approach as a way to treat influenza. NanoBio was founded by Dr. James R. Baker, Jr., the Ruth Dow Doan Professor of Biologic Nanotechnology at the University of Michigan. Perseus provided the funding.
"There is great promise for vaccines based on this technology because they can be administered without the use of needles or refrigeration," Baker said. "Nanotechnology-based vaccines have tremendous opportunities for applications in developing countries."
- read the release on the equity deal