Nanotechnology Now







Heifer International

Wikipedia Affiliate Button


DHgate

Home > Press > Madison-Area Pharma Company Receives NIH Grant

Abstract:
NanoMedex Pharmaceuticals, Inc., a Fitchburg pharmaceutical company, recently was notified that it will be awarded a $2.23 million Small Business Innovation Research (SBIR) Phase II Continuing Renewal grant from the National Institute of Health. The grant will provide funding for NanoMedex to complete clinical development of its first product, Microfol™, and file for the drug's approval with the FDA.

Madison-Area Pharma Company Receives NIH Grant

Madison, WI | Posted on December 12th, 2009

"Microfol is a version of propofol that employs a microemulsion technology developed by NanoMedex to offer important advantages to the medical community, particularly in the areas of safety and cost," said the company's president and CEO, David L. Cooper, PhD, MD. "The SBIR award will further our efforts to bring Microfol to market and, we believe, demonstrates continuing NIH support for our formulation technology that may be applied to other drugs. NanoMedex now has the resources to focus on building a pipeline of proprietary products."

NanoMedex proprietary pharmaceutical formulation strategies, initially developed by scientists at the University of Florida, Gainesville, and exclusively licensed from the University of Florida Research Foundation provide a method to have fat soluble pharmaceutical products be dissolved in water or saline based solutions to ease administration.

"We intend to explore additional drug formulations for the microemulsion applications which will allow these drugs to be administered intravenously in a hospital environment," Cooper said. "Both patients and health care providers tend to prefer IV medications as they can be administered without waking a sleeping patient or presenting difficulty for patients who may have trouble swallowing."

Furthermore, according to Cooper, Medicare and private insurance typically provide better reimbursement for drugs that are intravenously administered rather than orally.

"Reformulating already approved drugs can shorten the FDA approval process from decades to just a few years," Cooper added, "and we will continue in our efforts to raise investment dollars to pursue that path in 2010 with additional products."

Earlier this year, NanoMedex moved its corporate headquarters and research and development lab to Dane County from Alachua, Fla. The move was endorsed by Gov. Jim Doyle and made possible in part by grants and potential tax credits offered by the Wisconsin Dept. of Commerce under the recently passed Accelerate Wisconsin Tax Credits. Previously NanoMedex qualified and was awarded existing state grants designed to attract new business to Wisconsin totaling $290,000. The initial funding round for NanoMedex was led by Wisconsin's premier seed capital fund, Kegonsa Capital Partners (KCP) of Fitchburg. KCP and the Kegonsa CoInvest Fund also were the lead and principle investors in NanoMedex's second round of funding.

####

About NanoMedex
NanoMedex Pharmaceuticals Inc., was initially headquartered in Alachua, Fla. near Gainesville and is currently located in Fitchburg, Wis. near Madison. It has patented rights to an innovative and proprietary formulation technology based on the utilization of nanotechnology for fatty-based drug solubization. The technology utilizes components that encapsulate the active pharmaceutical ingredient of drugs into spheres so small they allow the drug to become randomly dispersed in water. NanoMedex is now building a pipeline of drug products based on already FDA approved active pharmaceutical ingredients that are reformulated with the NanoMedex formulation strategy for intravenous administration to man. The Company focus is on new drug products for aging patients administered in the hospital environment.

For more information, please click here

Contacts:
Starr McCaffery
630-546-2050 or

Copyright © NanoMedex

If you have a comment, please Contact us.

Issuers of news releases, not 7th Wave, Inc. or Nanotechnology Now, are solely responsible for the accuracy of the content.

Bookmark:
Delicious Digg Newsvine Google Yahoo Reddit Magnoliacom Furl Facebook

Related News Press

News and information

MIG Takes a Roll-Up-Your-Sleeves Approach with Revamped MEMS/Sensors Technical Event -- MIG welcomes technologists to MEMS Technical Congress, emphasizes working groups and breakout sessions on emerging MEMS & sensors, tech transfer and integration March 6th, 2015

Phenom-World announces the Phenom XL, world’s fastest desktop SEM to handle large samples March 6th, 2015

Air Bearing Stage / Systems Introduced by PI at Photonics West March 6th, 2015

Consistent Scalable Functionalised Graphene Capacity March 5th, 2015

Govt.-Legislation/Regulation/Funding/Policy

New research could lead to more efficient electrical energy storage March 4th, 2015

Energy-generating cloth could replace batteries in wearable devices March 4th, 2015

The taming of magnetic vortices: Unified theory for skyrmion-materials March 3rd, 2015

Black phosphorus is new 'wonder material' for improving optical communication March 3rd, 2015

Investments/IPO's/Splits

Arrowhead to Present at 2015 Barclays Global Healthcare Conference March 4th, 2015

Arrowhead to Present at 2015 RBC Capital Markets' Global Healthcare Conference February 17th, 2015

Iran 1st among Islamic Nations in Scientific Production, Nanotechnology February 16th, 2015

Harris & Harris Group Portfolio Company D-Wave Systems Raises an Additional $29 Million (CAD), Closing 2014 Financing at $62 Million (CAD) February 2nd, 2015

Nanomedicine

Patent for the Novel Cancer Therapies – Ceramide Nanoliposomes March 4th, 2015

Arrowhead to Present at 2015 Barclays Global Healthcare Conference March 4th, 2015

Democratizing synthetic biology: New method makes research cheaper, faster, and more accessible March 3rd, 2015

Pens filled with high-tech inks for do-it-yourself sensors March 3rd, 2015

Announcements

MIG Takes a Roll-Up-Your-Sleeves Approach with Revamped MEMS/Sensors Technical Event -- MIG welcomes technologists to MEMS Technical Congress, emphasizes working groups and breakout sessions on emerging MEMS & sensors, tech transfer and integration March 6th, 2015

Phenom-World announces the Phenom XL, world’s fastest desktop SEM to handle large samples March 6th, 2015

Air Bearing Stage / Systems Introduced by PI at Photonics West March 6th, 2015

Get ready for NanoDays! March 5th, 2015

Nanobiotechnology

Experiment and theory unite at last in debate over microbial nanowires: New model and experiments settle debate over metallic-like conductivity of microbial nanowires in bacterium March 4th, 2015

Untangling DNA with a droplet of water, a pipet and a polymer: With the 'rolling droplet technique,' a DNA-injected water droplet rolls like a ball over a platelet, sticking the DNA to the plate surface February 27th, 2015

Bacteria network for food: Bacteria connect to each other and exchange nutrients February 23rd, 2015

Building tailor-made DNA nanotubes step by step: New, block-by-block assembly method could pave way for applications in opto-electronics, drug delivery February 23rd, 2015

NanoNews-Digest
The latest news from around the world, FREE




  Premium Products
NanoNews-Custom
Only the news you want to read!
 Learn More
NanoTech-Transfer
University Technology Transfer & Patents
 Learn More
NanoStrategies
Full-service, expert consulting
 Learn More










ASP
Nanotechnology Now Featured Books




NNN

The Hunger Project







© Copyright 1999-2015 7th Wave, Inc. All Rights Reserved PRIVACY POLICY :: CONTACT US :: STATS :: SITE MAP :: ADVERTISE