Nanophotonics Firm Raises $18M in IPO
PARIS, Nov. 13, 2012 — Following an initial public offering that raised €14.2 million (about $18 million), a Paris-based nanophotonics company with roots in upstate New York will be listed on the New York Stock Exchange Euronext market.
Nanobiotix — a spinoff founded in 2003 by University of Buffalo postdoctoral researcher Laurent Levy with technology licensed from the university — has developed NanoXray, a nanoparticle-based therapeutic approach for the local treatment of cancer. These nanoparticles enhance the radiotherapy efficacy within cancerous tumors without increasing x-ray-induced damage to surrounding healthy tissue.
While a postdoctoral researcher at UB’s Institute for Lasers, Photonics and Biophotonics, Levy partnered with Roswell Park Cancer Institute and others at UB to develop two technologies: magnetic nanoparticles for the treatment and diagnosis of cancer (nanoMag), and laser-activated nanoparticles for cancer treatment (nanoPDT).
Two licenses obtained from UB allowed him to launch Nanobiotix, Levy said. “We have been able to sublicense part of the applications of those technologies to develop products outside the cancer area. Those technologies will not be the first we will push to market, but have been essential to start our company,” he added.
“It is very satisfying to see the work we are doing in the laboratory have a positive impact on society,” said Dr. Paras Prasad, Levy’s postdoctoral adviser and co-inventor of the nanoMag and nanoPDT technologies. “Early on, Laurent had the foresight to understand the tremendous potential that nanotechnology has to improve the field of medicine.”
The recent IPO funding follows the announcement earlier this year of a deal with Asian firm PharmaEngine that will bring the company up to $57 million and expedite the development of a cancer nanotherapeutic.
For more information, visit: www.buffalo.edu
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