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news.NanoBio has received its third $10 million tranche of equity funding from Perseus, after having successfully met three critical development milestones: validating the efficacy and safety of its two topical treatments for skin infections and demonstrating the strength of its influenza vaccine in ferret studies.
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The company, a spin-off from the University of Michigan, has received a total of $30 million over the past 18 months from Perseus, a private equity management firm. The funding has enabled NanoBio to conduct Phase II clinical trials on its two lead products, topical lotions NB-001 for herpes labialis (cold sores) and NB-002 for onychomycosis (nail fungus).
Additionally, the funding has supported extensive animal studies supporting the company’s nasal vaccines against influenza, hepatitis B and several additional pathogens. Preliminary analyses of the data demonstrate the lotions have potent antiviral and antifungal effects without safety concerns or systemic absorption, according to NanoBio scientists.
Phase IIa and Phase IIb clinical trials on NB-001 are complete, while Phase II clinical trials on NB-002 are in progress and will be completed by the first quarter of 2009. Final data will be presented after the data have undergone peer review processes.
James Baker, founder and chairman of NanoBio, said: “Based on the positive data, NanoBio will move immediately to plan Phase III testing of NB-001.”