NanoHarmonics, Inc. has acquired Avagen Pharma, Inc. to further its commitment to converge innovative drug delivery technologies with its current bio-diagnostic and data management platforms to improve the quality of healthcare. Avagen Pharma is a global distributor of products that utilize a patented drug delivery system.
SAN ANTONIO, Texas, March 25, 2022 /PRNewswire-PRWeb/ -- NanoHarmonics Inc. in line with its strategic plan of integrating innovative drug delivery systems merged with Avagen Pharma Inc. NanoHarmonics, a Quantum Dots bio-diagnostic device company, furthered its interest in the next generation of drug therapy by securing 100% ownership in Avagen Pharma. Avagen is a global distributor of a product designed to help premature ejaculation using an advanced drug delivery system, similar to the technology behind Abraxane, a drug that precipitated the sale of its parent company, Abraxis Bioscience to Celgene for $2.9 billion in 2010.
NanoHarmonics has started discussions with U.S. and Asian pharmaceutical companies to develop drugs with increased bioavailability of the beneficial API (Active Pharmaceutical Ingredients) while minimizing or eliminating toxicity and side effects. The research and development pipeline includes pain medications, anti-malarial drugs, drugs for tuberculosis and other infectious diseases. NanoHarmonics is also in discussion with scientists out of Palo Alto for a possible collaboration of a treatment for early stage Covid-19 infections.
Jimi Sta. Maria, Chairman and CEO of NanoHarmonics said, "This is an exciting time for us. I do not believe that nanotechnology, biotechnology and information technology are mutually exclusive from each other. They are converging technologies that will usher in the future advances in medical science." Justin Jones, President of NanoHarmonics couldn't agree more, "We need predictive models that can fight infectious diseases. This merger strengthens our position to be one of the companies working on three convergent technologies all at the same time to improve healthcare on a global basis."
Media Contact
Erin Robinson, NanoHarmonics, Inc., 1 888-870-6266, [email protected]
SOURCE NanoHarmonics, Inc.
Share this article