NanoHarmonics on Drug Delivery Systems
NanoHarmonics Inc., in line with its strategic plan of integrating cutting-edge drug delivery system along with its QDot bio-diagnostic devices and data platform, merged with Avagen Pharma. NANOHARMONICS INC. now owns 100% of Avagen Pharma Inc. Avagen is the global licensee of a protein and lipid stabilization technology drugs. The technology is considered to be the next generation of the technology used to develop Abraxane, a drug that precipitated the sale of its parent company, Abraxis Bioscience, to Celgene for $ 2.9 Billion in 2009.
NanoHarmonics which will be the parent company start discussions with US and Asian pharmaceutical companies to develop and/or reformulate other drugs with increased bio-availability of beneficial compounds as well as reduced or even eliminated toxicity or side effects. Being considered for RND are Anti-Malarial Drugs, Drugs for Tuberculosis and infectious diseases.They are also in discussion with a group of scientists out of Palo Alto, for possible collaboration on a drug for early stage Covid19 infections.
Jimi Sta. Maria, Chairman and CEO of NanoHarmonics Inc. said “This is an exciting time for us. I don’t believe that nanotechnology, biotechnology and information technology are mutually exclusive from each other. They are converging technologies that will usher in the future advances in medical science.” Justin Jones, President of NanoHarmonics couldn’t agree more, “We need predictive models that can fight infectious diseases. This merger strengthens our position to be one of the companies working on three convergent technologies all at the same time to improve healthcare.”