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August 1st, 2009
Nanotechnology firm Liquidia Technologies has closed on just a bit more than $7 million in new financing.
According to a filing with the Securities and Exchange Commission, Liquidia raised $7,031,130 in equity funding on July 15.
Neal Fowler, the company's chief executive officer, told the Triangle Business Journal that the new funds would be used for drug design and delivery.
Its first target is a vaccine, which Liquidia hopes to have in clinical trials by late 2010, the newspaper reported.
Several pharmaceutical firms have already licensed Liquidia technology for drug development, according to Fowler.
In January, Liquidia announced a partnership with Abbott to develop means of delivering drugs through nanotechnology..
Liquidia has developed a nanotechnology program called PRINT. The process uses nanotechnology to produce thin films that can be used for light management and other uses.
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