Michael Nestor Joins NanoBio as CEO

Dec 06, 2004, 00:00 ET from NanoBio Corporation

    ANN ARBOR, Mich., Dec. 6 /PRNewswire/ -- NanoBio Corporation, a
 biopharmaceutical company based in Ann Arbor, MI, announced the appointment of
 Michael J. Nestor as Chief Executive Officer.  Nestor brings 25 years of
 pharmaceutical industry experience to NanoBio.  Nestor previously served as
 President of Alpharma Branded Products, a $66 million specialty pharmaceutical
 business that is part of Alpharma, Inc., a $1.3 billion global generic
 pharmaceutical company.  Under his direction, the branded products business
 increased from $3 million in 2001 to $66 million in 2003.  Previous
 assignments with Alpharma included President of the U.S. Human Pharmaceuticals
 Division, and President and COO of Faulding Pharmaceuticals at the time it was
 purchased by Alpharma.
     Nestor stated, "I believe that NanoBio's proprietary nanoemulsion
 technology can be used to develop unique products that provide significant
 improvements over current therapies for Herpes labialis, onychomycosis,
 genital herpes, shingles, and vaginal infections."  Nestor added, "I look
 forward to working with the management team to position NanoBio to take
 advantage of its market opportunities."
     Prior to Alpharma, Nestor was President of the International Division of
 Banner Pharmacaps, Inc., a global drug delivery and proprietary consumer
 healthcare products organization operating as a $200 million subsidiary of
 Sobel N.V., a Netherlands-based holding company.  He also held management
 positions with American Cyanamid, Lederle Division, which was acquired by
 Wyeth during his tenure.  Over time his responsibilities were regularly
 expanded to include: Director of Commercial Operations, Lederle Praxis
 Biologicals; Product Group Director, Lederle Pharmaceuticals; Vice President
 Cardiovascular Business, Lederle Pharmaceuticals; Vice President and General
 Manager, Lederle Praxis Biologicals Division; and Vice President and General
 Manager for Wyeth-Lederle Vaccines and Pediatrics Division.
     Nestor holds an MBA from Pepperdine University, Malibu, CA, and a BBA from
 Middle Tennessee State University, Murfreesboro, TN.
     James R. Baker, NanoBio's Founder and Chief Scientific Officer, stated,
 "We are pleased to have attracted a Chief Executive Officer with Michael's
 record of success as a leader and manager of high-growth pharmaceutical
 companies.  Michael's proven ability to create business opportunities, capture
 new markets, and develop exciting new products will be crucial to the success
 of NanoBio.  His recruitment is a sign of the growth and potential of not just
 NanoBio, but the entire biotechnology industry in the state of Michigan."
     Company Background:
     NanoBio Corporation is a biopharmaceutical company whose mission is to
 develop and market antimicrobial therapeutics based on its proprietary
 antimicrobial nanoemulsion technology.  This nanotechnology was developed at
 the University of Michigan Medical School.  NanoBio, a privately held
 corporation, is the exclusive licensee of this technology.
     NanoBio is currently conducting FDA-approved Phase II clinical trials for
 NanoHPX, a new topical treatment for Herpes labialis.  Clinical trials for
 nail fungus (onychomycosis) are expected to begin in 2005.  Other
 antimicrobial products are in the NanoBio product development pipeline.
 NanoBio's products could have important therapeutic, safety, and cost
 advantages over currently available treatments.

SOURCE NanoBio Corporation