NanoBio, University of Michigan land joint grant worth $9.3 million
By Nathan Bomey and Tina Reed, AnnArbor.com
The National Institutes of Health awarded the grant to U-M to accelerate research on a mucosal vaccine based on nanoemulsion technology, which uses extremely small particles to deliver therapies.
Some $4.1 million of the funding goes to NanoBio, which is collaborating with U-M on the technology to develop a nasal vaccine for seasonal influenza.
The award marks the latest capital infusion for NanoBio, which earlier this year acquired $22 million in venture capital to continue its clinical development work. The U-M spinoff, which is nominated for a "Deal of the Year" by AnnArbor.com's Business Review, has about 25 employees in Ann Arbor.
“This funding will enable NanoBio to make tremendous advances in terms of mucosal vaccination, which could provide significant advantages with respect to disease protection worldwide,” NanoBio chief operating officer and chief financial officer David Peralta said in a statement.
The company is also in various stages of research and development for projects such as a burn wound treatment and a topical treatment for herpes labialis, among other things.
Earlier this year, the U.S. Food and Drug Administration approved an Investigational New Drug application that allows the company to start Phase I testing of its nanoemulsion-based vaccine adjuvant. Adjuvants modify the effect of other pharmacological agents.