Nanotechnology Now

Our NanoNews Digest Sponsors

Heifer International

Wikipedia Affiliate Button


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

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

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.

Delicious Digg Newsvine Google Yahoo Reddit Magnoliacom Furl Facebook

Related News Press

News and information

Scientists found a natural nanostructure to control the flow of light October 4th, 2015

Horizontal magnetic tunneling in a field-effect device integrated on Silicon October 3rd, 2015

Crystal clear: Thousand-fold fluorescence enhancement in an all-polymer thin film: Griffith University researchers report breakthrough due to novel and multi-layer Colloidal Photonic Crystal structure October 2nd, 2015

Industrial Nanotech, Inc. Announces New Office in Arizona to Service the Company's New Regional and National Home Builders in Arizona and Nevada October 2nd, 2015


Sniffing out cancer with improved 'electronic nose' sensors October 2nd, 2015

New Processes in Modern ReRAM Memory Cells Decoded October 1st, 2015

Researchers measure how specific atoms move in dielectric materials October 1st, 2015

Researchers create first entropy-stabilized complex oxide alloys September 30th, 2015


Accelerator Corporation Completes $62.8 Million Oversubscribed Financing September 30th, 2015

Nanometrics to Participate in the Citi 2015 Global Technology Conference August 26th, 2015

Nanostart AG: First-half figures 2015 published and new supervisory board elected : Publication of first-half figures 2015 - Shareholders' meeting elected new supervisory board August 22nd, 2015

Harris & Harris Group Portfolio Company, AgBiome, Secures $34.5 Million Series B Financing Led By Bill and Melinda Gates Foundation August 20th, 2015


Sniffing out cancer with improved 'electronic nose' sensors October 2nd, 2015

Hopes of improved brain implants October 1st, 2015

New Nanomaterials Taking Research to Mexico, Possibly into Space September 29th, 2015

Cristal Therapeutics Starts Clinical Phase I Trial with Nanomedicine CriPec® Docetaxel in Patients with Solid Tumours September 29th, 2015


Scientists found a natural nanostructure to control the flow of light October 4th, 2015

Industrial Nanotech, Inc. Announces New Office in Arizona to Service the Company's New Regional and National Home Builders in Arizona and Nevada October 2nd, 2015

Production of High Temperature Ceramics with Modified Properties in Iran October 2nd, 2015

ISO Approves 2 Int'l Nanotechnology-Related Standards Proposed by Iran October 2nd, 2015


Hopes of improved brain implants October 1st, 2015

A new single-molecule tool to observe enzymes at work September 28th, 2015

DNA-based nanodevices for molecular medicine: Self-assembled DNA nanostructures can be used in molecular-scale diagnostics and as smart drug-delivery vehicles. September 25th, 2015

Los Alamos explores hybrid ultrasmall gold nanocluster for enzymatic fuel cells: New technique removes barrier to development of biofuel cells with efficient performance September 25th, 2015

The latest news from around the world, FREE

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

Nanotechnology Now Featured Books


The Hunger Project

Car Brands
Buy website traffic