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In December 2009, NanoBio Corporation and GlaxoSmithKline, plc (GSK) announced an exclusive licensing agreement in the United States and Canada for the over-the-counter (OTC) use of NB-001, a novel, patented compound representing the next advance in the treatment of herpes labialis (cold sores). Under the terms of the agreement, NanoBio received an up-front payment of $14.5 million, and is eligible to receive additional milestone payments of up to $40 million plus royalties on future sales.
GSK's market leading Abreva product is the only OTC therapy approved by the US Food & Drug Administration to shorten cold sore healing time.
GSK plans to build on its Abreva brand with the future launch of NB-001.
GSK Consumer Healthcare is one of the world’s largest over-the-counter consumer healthcare products companies with more than 30 well-known OTC brands. |
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In October 2009, the University of Michigan and NanoBio Corporation announced a $9.3 million contract award for vaccine adjuvant research from the National Institute of Allergy and Infectious Diseases, a Division of The National Institute of Health. NanoBio and the University will collaborate over the 5 year research period to support efforts aimed at developing nanoemulsion-based mucosal vaccine adjuvants for a wide variety of antigens.
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