PHOTO
Dubai-based private investment fund Opulence Capital Management is investing $20 million in biotech firm Nano Cures' $90 million pre-IPO funding round.
Headquartered in the US, Nano Cures is a clinical-stage biotechnology and infectious disease immunity platform company.
“The investment is expected to accelerate the global scale up of Nano's Cures Platform for Covid-19 variants, including vaccines and persistent immunity delivery,” the company said in a statement.
Nano's novel self-administered technology moves vaccine delivery beyond syringes and shots, to an array of nasal, dermal, ophthalmic, sub-lingual, and oral options.
According to the statement, Nano is currently in Phase 1 and 2 clinical trials to develop a universal vaccine to protect against known and unknown strains of coronavirus.
The company is also accelerating plans to bring its Cures platform for COVID-19 variants to emerging markets such as the Gulf Cooperation Council (GCC) region, Southeast Asia, Latin America and Central/ Southern Europe.
“Nano will open up its Cures platform to other pharmaceutical companies and their vaccines, providing dynamic new ways to conquer the pandemic and deliver billions of does directly to those in need,” it said.
According to Alexander Vanderhey, chairman of Opulence Capital Management, their investment will help make the world a safer and healthier place to live in.
“We are proud to support and partner with Nano as they bring this Cures platform to market. We believe they are delivering a highly unique set of proactive health and safety solutions to address the current global pandemic, as well as safeaguard against the next one,” said Alexander Vanderhey, chairman of Opulence Capital Management.
“With this investment, we are envisioning a safer, healthier future for the world.”
(Writing by Cleofe Maceda; editing by Seban Scaria)
Disclaimer: This article is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Read our full disclaimer policy here.
© ZAWYA 2021
