NanoBio secures $12 million in series B financing

The series B funding will be used by the company to complete a Phase I study investigating a novel topical treatment for acne, preclinical studies on a nebulized therapy for cystic fibrosis, and a Phase I study for an intranasal seasonal influenza vaccine.

James Baker, Jr, founder and chairman of NanoBio, said: “We are pleased with the continued, strong support of Perseus and the company’s other investors. Based upon the strength of our recent data and our future development plans, there was significant interest from investors with respect to participating in this financing despite the challenging economic conditions.”