Nanotechnology Now

Our NanoNews Digest Sponsors





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

Transparent, electrically conductive network of encapsulated silver nanowires: A novel electrode for optoelectronics August 1st, 2015

Harris & Harris Group Portfolio Company, HZO, Announces Partnerships with Dell and Motorola August 1st, 2015

Advances and Applications in Biosensing, Sensor Power, and Sensor R&D to be Covered at Sensors Global Summit August 1st, 2015

Kalam: versatility personified August 1st, 2015

Govt.-Legislation/Regulation/Funding/Policy

Self-assembling, biomimetic membranes may aid water filtration August 1st, 2015

Kalam: versatility personified August 1st, 2015

Heating and cooling with light leads to ultrafast DNA diagnostics July 31st, 2015

Theoretical Physicists at Freie Universität Berlin Develop New Insights into Interface between Classical and Quantum Worlds July 31st, 2015

Investments/IPO's/Splits

Harris & Harris Group Portfolio Company, HZO, Announces Partnerships with Dell and Motorola August 1st, 2015

Nanometrics Announces Upcoming Investor Events July 28th, 2015

Harris & Harris Group Portfolio Company, Bridgelux, Enters into Agreement to be Acquired by an Investment Group July 22nd, 2015

Harris & Harris Group Portfolio Company, OpGen, Gains $6 Million Investment From Merck GHI in Addition to New Acquisition July 16th, 2015

Nanomedicine

Gold-diamond nanodevice for hyperlocalised cancer therapy: Gold nanorods can be used as remote controlled nanoheaters delivering the right amount of thermal treatment to cancer cells, thanks to diamond nanocrystals used as temperature sensors August 1st, 2015

Heating and cooling with light leads to ultrafast DNA diagnostics July 31st, 2015

Take a trip through the brain July 30th, 2015

Sol-gel capacitor dielectric offers record-high energy storage July 30th, 2015

Announcements

Self-assembling, biomimetic membranes may aid water filtration August 1st, 2015

Transparent, electrically conductive network of encapsulated silver nanowires: A novel electrode for optoelectronics August 1st, 2015

Harris & Harris Group Portfolio Company, HZO, Announces Partnerships with Dell and Motorola August 1st, 2015

Advances and Applications in Biosensing, Sensor Power, and Sensor R&D to be Covered at Sensors Global Summit August 1st, 2015

Nanobiotechnology

Heating and cooling with light leads to ultrafast DNA diagnostics July 31st, 2015

European Technology Platform for Nanomedicine and ENATRANS European Consortium Launch the 2nd edition of the Nanomedicine Award: The Award to be presented at BIO-Europe conference in Munich, November 2015 July 30th, 2015

New computer model could explain how simple molecules took first step toward life: Two Brookhaven researchers developed theoretical model to explain the origins of self-replicating molecules July 28th, 2015

Spintronics: Molecules stabilizing magnetism: Organic molecules fixing the magnetic orientation of a cobalt surface/ building block for a compact and low-cost storage technology/ publication in Nature Materials July 25th, 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