NanoBio to invest $1.4M in Ann Arbor, create 32 jobs

Wednesday, June 16, 2010 | Source: Concentrate

There is nothing small about NanoBio's plan to expand in Ann Arbor, thanks to an expected investment of $1.4 million and the creation of 32 new jobs over the next five years.

NanoBio spun out of the University of Michigan in 2000 and now focuses on developing and commercializing vaccines for infectious diseases. The spin-off accomplishes this with a robust vaccine delivered through a nasal spray, which NanoBio's leadership expects will be able to move medicine to a more proactive stance, rather than being merely reactive.

"We have quite an expansive platform technology with a lot of things we want to take advantage of," says Dave Peralta, COO and CFO of NanoBio. "I think we're right in the middle of it with our vaccine."

NanoBio plans to invest $1.4 million to expand its current facility over the next five years, thanks to a $434,378 state tax credit from the Michigan Economic Development Corp. That helped the firm choose Ann Arbor over a competing site in Washington, D.C.

Jobs, most of which will be research-based and require either an MD or PhD, will be added steadily over the next five years. The company started with two people and now employs 21 and a couple of interns. This includes four hires over the last year.

Source: Dave Peralta, COO and CFO of NanoBio
Writer: Jon Zemke