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."
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