Anti-infection and dermatology drug company NanoBio Corp. raked in $11 million in series C financing from its existing lineup of investors, bringing its total to $130 million, half of which has come from nondilutive sources.
With the funding, the company says it will continue developing its various anti-infection programs and vaccines. Its NanoStat platform is based on high-energy, oil-in-water emulsions that, when applied to the skin or mucous membranes, enter pores and hair shafts to disrupt and kill infectious agents. Unlike current therapies, the company says, its topical treatments are selectively toxic and don’t irritate the skin.
Among the company’s lead topical products are a phase 3 treatment for cold sores/fever blisters and a phase 2 treatment for nail fungus.
“Our topical therapeutic programs continue to show tremendous promise to enable new products that can effectively treat drug-resistant pathogens and avoid the concerning safety risks associated with oral therapies,” said CEO David Peralta in a release.
Peralta took over the top seat at NanoBio earlier this year following the departure of founder James Baker, who left to become a senior vice president at Merck.
The company is also using its nanoemulsion-based technology to develop other anti-infective drugs and intranasal vaccines including a seasonal flu vaccine in phase 2 development.
The Ann Arbor, Michigan company is a spinout of the Center for Biologic Nanotechnology at the University of Michigan. It’s involved in collaborations with Merck, with which it’s developing a vaccine for a serious cause of lung infections called respiratory syncytial virus, and with GlaxoSmithKline, which licensed its cold sore treatment for over-the-counter use.