Home > News > NanoBio, With Glaxo as Big Partner, Sees Market in Treating and (Maybe) Preventing Cold Sores
July 15th, 2010
NanoBio, With Glaxo as Big Partner, Sees Market in Treating and (Maybe) Preventing Cold Sores
Abstract:
NanoBio has spent a decade of R&D working on nanotech formulations that might help drugs and vaccines be better absorbed, more effective, or more convenient. Now the Ann Arbor, MI-based company is plowing ahead with its first big application—for the treatment and possibly the prevention of cold sores.
This story has been unfolding for some time, but NanoBio gained some additional cash and credibility for the idea last December when it formed a partnership with GlaxoSmithKline. London-based Glaxo, the world's fourth-biggest pharma company by revenue, makes the only FDA-approved topical over-the-counter treatment for cold sores, docosanol (Abreva). The deal provided NanoBio with $14.5 million in upfront cash, plus milestone payments worth as much as $40 million, and a single digit royalty on sales if the new drug reaches the marketplace.
Source:
xconomy.com
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