The $11m funding is thought to be the last cash injection that the company needs prior to seeking a big pharma partner for the commercialisation of the technology.
NanoStat incorporates a therapeutic into a nanoemulsion, which penetrates pores and hair shafts when applied topically to deliver the medication.
The technology is being developed to deliver dermatological treatments, anti-infectives and vaccines. A treatment for herpes labialis is the furthest through development, having successfully completed a Phase III dose study.
Speaking following completion of the Phase IIb study, James Baker, founder and chairman of NanoBio, said: “The product’s novel mechanism leaves little risk of drug resistance, which is a concern with the systemic anti-viral therapies used to treat herpes labialis.
“This attribute coupled with its safety profile may eventually allow NB-001 to be sold without a prescription. This will be important to those people affected by this disease, since the vast majority of herpes labialis sufferers today seek over-the-counter treatments for their cold sores.”
Other treatments being developed are currently between the discovery stage and Phase II. NanoBio believes that its delivery technology confers numerous advantages over existing methods in the administration of vaccines.
The treatments are still in preclinical development but NanoBio reported positive results for its hepatitis B vaccine in animal trials.
NanoBio reported the immune response triggered by its vaccine was roughly 450 times greater than currently available human vaccines. In addition the vaccine produced systemic, mucosal and cellular immunity, unlike existing treatments that only give systemic.
The technology also has the potential to negate the need for the two elements that hinder the widespread administration of vaccines, namely sterile syringes and refrigeration.
NanoStat hepatitis B formulation will remain stable for three to six weeks without the need for refrigeration, according to NanoBio. Moreover, according to NanoBio the vaccination only needs to be administered once to confer immunity.
Baker said: “We have developed a new vaccine that is extremely safe, easy to administer, and which rapidly builds protection against hepatitis B infection.
“The same vaccine platform has also been shown to elicit significant immune responses in animal studies with influenza, anthrax, smallpox, RSV and HIV. Plans are under way to begin testing in humans.”