NanoBio raises $11 million in new round of funding
With the closing of an $11 million Series C funding round, Ann Arbor-based biotechnology company NanoBio has now raised more than $130 million in funding.
The company was founded in 2000 as a University of Michigan Technology Transfer spinoff.
Photo by Robert Ramey
David Peralta took over as CEO of the company in October and previously has taken multiple companies to acquisition or public offering. Thus far, instead of finding a buyer, it appears he has continued in the fundraising footsteps of his predecessor Dr. James Baker.
“The closing of this round demonstrates a strong commitment from our investors in support of our ongoing efforts to move several product candidates toward commercialization,” Peralta said in a statement.
“Our topical therapeutic programs continue to show tremendous promise to enable new products that can effectively treat drug-resistant pathogens.”
Primary research efforts that will benefit from the new round of funding include programs for cold sores and cystic fibrosis as well as vaccines for respiratory syncytial virus (RSV) and genital herpes (HSV2).
Ben Freed covers business for AnnArbor.com. You can sign up here to receive Business Review updates every week. Reach out to Ben at 734-623-2528 or email him at email@example.com. Follow him on twitter @BFreedinA2