SAN DIEGO, CALIFORNIA – Nano PharmaSolutions Inc., a privately held company, a nano technology drug delivery startup, has been awarded a $255,961 Small Business Innovation Research (SBIR) grant from the National Science Foundation. The grant enables further development of the company’s patent-pending NanoTransformer™ technology for bioavailability enhancement by nanodrug delivery.
“We’re honored by the National Science Foundation’s support of our efforts,” said Principal Investigator and Nano PharmaSolutions Co-Founder and CEO Dr. Kay Olmstead. “This award enables continued advancement of our disruptive nanodrug delivery technology platform that increases bioavailability of poorly soluble drugs by nanosizing drugs without using any chemicals or solvents. It has great potential for increasing success rates of clinical trials, shortening drug development time, and reducing Pharma R&D costs.”
“NSF is proud to support the technology of the future by thinking beyond incremental developments and funding the most creative, impactful ideas across all markets and areas of science and engineering,” said Andrea Belz, Division Director of the Division of Industrial Innovation and Partnerships at NSF. “With the support of our research funds, any deep technology startup or small business can guide basic science into meaningful solutions that address tremendous needs.”
Once a small business is awarded a Phase I SBIR/STTR grant (up to $256,000), it becomes eligible to apply for a Phase II grant (up to $1,000,000). Small businesses with Phase II grants are eligible to receive up to $500,000 in additional matching funds with qualifying third-party investment or sales. NSF accepts Phase I proposals from small businesses at any time. Small businesses with innovative science and technology solutions, and commercial potential are encouraged to apply. All proposals submitted to the NSF SBIR/STTR program, undergo a rigorous merit-based review process.
To learn more about America’s Seed Fund powered by NSF, visit: https://seedfund.nsf.gov/
About the National Science Foundation’s Small Business Programs.
America’s Seed Fund powered by NSF awards $200 million annually to startups and small businesses, transforming scientific discovery into products and services with commercial and societal impact. Startups working across almost all areas of science and technology can receive up to $1.75 million in funding to support research and development (R&D), helping de-risk technology for commercial success. America’s Seed Fund is congressionally mandated through the Small Business Innovation Research program. The NSF is an independent federal agency with a budget of about $8.1 billion that supports fundamental research and education across all fields of science and engineering.
About Nano PharmaSolutions, Inc.
Nano PharmaSolutions is comprised of mission driven individuals set on making more drugs successful during the development stage through enhancing bioavailability, eliminating the need for additional chemicals and solvents, and making drug delivery method agnostic. Nano PharmaSolutions platform technology is designed to help new drug development companies succeed in making their drugs soluble and increase speed into human clinical trials. Nano PharmaSolutions also supports innovative generic pharmaceutical companies by developing generic nanodrugs expanding their market share. The company was founded in 2019 and has additional innovations in its development pipeline.
Nano PharmaSolutions, Inc.