ANN ARBOR – NanoBio Corp., a biopharmaceutical company, announced Wednesday that it has closed a $22 million Series B financing round after recently securing an additional $10 million investment from NanoBio’s majority shareholder Perseus, L.L.C., based in New York, N.Y., and Venture Investors of Madison, Wis. and Ann Arbor.

The $10 million is in addition to the $12 million Series B funding announced in February 2009. To date, NanoBio has received more than $90 million in equity and grant funding to support the development of the company?s anti-infective products and nanoemulsion-based vaccines.

“NanoBio is a compelling investment choice, offering a strong scientific basis supported by promising ongoing trial results,” said George Arida, managing director for Venture Investors? healthcare practice. “At a time when investors have a multitude of good companies seeking financing, we are selectively backing those with strong management teams and novel technology that have the potential to create significant change in the healthcare landscape.”

The funding will support the advancement of numerous clinical and preclinical programs, including the development of products for herpes labialis, onychomycosis, acne and cystic fibrosis as well as intranasal vaccines for seasonal influenza and other diseases. The company will begin a Phase I clinical study in acne this summer and is planning to initiate a phase III study in herpes labialis. In addition, the company is currently conducting a Phase I clinical study in NB-1008, a seasonal influenza vaccine administered via a nasal dropper.

NB-1008 uses a novel nanoemulsion-based adjuvant to achieve a robust immune response using only a small fraction of the antigen required by currently available injectable vaccines. In numerous animal studies, NB-1008 has demonstrated robust mucosal, systemic and cellular immunity without inflammation or safety concerns.

“This investment round secures our ability to independently fund the next two years of our operations,” said James R. Baker, Jr., MD, NanoBio’s CEO and founder.

For more information, click on NanoBio.Com

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