NASHVILLE, Tenn., April 27, 2017 /PRNewswire/ -- Pendant Biosciences, Inc. (formerly Nanoferix, Inc.), a privately-held advanced materials company developing innovative surface modification and drug delivery technologies, today announced that it has been accepted into Johnson & Johnson Innovation, JLABS @ Toronto.
Shawn Glinter, Founder and Chief Executive Officer of Pendant Biosciences, noted, "We are excited to become part of the JLABS @ Toronto community, and are honored to be the first Tennessee-based company to join this unique and dynamic life science ecosystem. Acceptance into JLABS perfectly complements our existing research and development activities being conducted with our academic collaborator and partner, Christine Allen, Ph.D., Professor and GSK Chair in Pharmaceutics and Drug Delivery at the University of Toronto, and serves to expand our presence in this important life science hub. As an early-stage company, Pendant Biosciences and its team gain immediate access to, and the ability to collaborate with, the Johnson & Johnson Innovation network, industry experts with unparalleled translational research and commercialization experience, as well as key life science investors who can help us drive development of our product candidates."
Alan Bentley, Assistant Vice Chancellor for Vanderbilt Center Technology Transfer & Commercialization, noted, "We are delighted that Pendant Biosciences, which licensed its technology from Vanderbilt University, has been given this exceptional opportunity. The company's increased footprint in Toronto will, no doubt, be invaluable, and we will be watching their continued progress with great interest."
JLABS @ Toronto is a 40,000 square-foot life science innovation center. The labs provide a flexible environment for start-up companies pursuing new technologies and research platforms to advance medical care. Through a "no strings attached" model, Johnson & Johnson Innovation does not take an equity stake in the companies occupying JLABS and the companies are free to develop products – either on their own, or by initiating a separate external partnership with Johnson & Johnson Innovation or any other company.
About Pendant Biosciences
Based in Nashville, TN, Pendant Biosciences is an advanced materials company developing innovative surface coating and drug delivery technologies using a unique, polymer-based platform. The company is initially focused on applications within the orthopedic market, and its lead product candidate is a surface modification intended to reduce the risk of infection associated with certain orthopedic implants. The platform also serves as a product engine with broad utility in multiple therapeutic areas.
SOURCE Pendant Biosciences, Inc. (formerly Nanoferix, Inc.)