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