Ann Arbor's NanoBio brings in $12 million in venture capital

NanoBio is attracting some big investment these days. The Ann Arbor-based firm just secured $12 million in new financing to help develop the company, bringing the total amount invested to $80 million.

The 3-year-old firm, University of Michigan spin-off, employs about 20 people and a handful of interns. It has hired several ex-Pfizer people after the pharmaceutical giant closed the doors to its Ann Arbor campus in 2007.

NanoBio is in the second phase of clinical trails for two of its drugs, which help treat herpes and nail fungus. The biopharmaceutical company expects to begin licensing them to major pharmaceutical companies in 2009. It's also developing products for vaccines that could be up for licensing as soon as late this year or next.

Source: John Coffey, vice president of business development for NanoBio
Writer: Jon Zemke