NanoBio lands $1.5M Defense grant, to add positions

Wednesday, October 20, 2010 | Source: Concentrate

It's a growth pattern rather than a holding pattern for NanoBio, as evident by its handful of new hires and a $1.5 million federal grant.

The biopharmaceutical company has made five hires in the last year, expanding its staff to 25 employees and three interns. It expects to add five more staffers in the next 12 months. They will be kept busy with the 10-year-old company's new $1.5 million grant from the U.S. Dept of Defense.

NanoBio will partner with the University of Michigan Medical School to study the use of nanoemulsion-based therapies in the form of topical treatments for protection against burn and wound infections suffered by soldiers in battle. NanoBio expects this grant will help lay the foundation for a clinical trial and commercialization in about three years.

"This is another step in the process of developing this product," says John Coffey, vice president of business development for NanoBio. He adds that his company expects this product to attract the attention of a number of larger pharma-based firms.

NanoBio spun out of the University of Michigan and focuses on developing and commercializing vaccines for infectious diseases. The spin-off accomplishes this with a robust vaccine delivered through a nasal spray, which company leadership expects will be able to move medicine to a more proactive stance, rather than being merely reactive. The firm received a six-figure state tax credit this summer for its planned $1.4 million investment in Ann Arbor and the expectation of creating 32 new jobs over the next five years.

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

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