U.S. Markets close in 6 hrs 15 mins

PanaceaNano, Inc. Receives the Chicago Innovation Award for 2019

Dr. Youssry Botros (l), CEO of PanaceaNano, and Sir Fraser Stoddart, PanaceaNano CTO, with the 2019 Chicago Innovation Award. Botros and Stoddart are co-founders of PanaceaNano. (Photo: Business Wire)

CHICAGO--(BUSINESS WIRE)--

Tech Start-up Commercializing Molecular Delivery Technology Discovered by a Nobel Laureate

PanaceaNano, Inc., a start-up pioneering the development and manufacturing of molecular delivery techniques, has been named a winner of the 18th Annual Chicago Innovation Awards.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20191029006126/en/

PanaceaNano, founded by Sir Fraser Stoddart (2016 Nobel Laureate in Chemistry), and Dr. Youssry Botros (16 year-veteran of Intel Corporation), focuses on designing and manufacturing a molecular delivery technology developed in Professor Stoddart’s laboratory at Northwestern University. The technology uses readily available building blocks to create molecular structures that are both rigid and porous. Foundational versions of this technology have been featured in the New York Times (“Researchers Create Nanostructures, and Whip Up a Recipe, Too”) and New Scientist (“Edible Crystals Could Store Hydrogen Fuel”), among other outlets.

PanaceaNano designs and manufactures this delivery technology, which it calls Organic Molecular Vessels (OMVs). The technology creates molecular delivery boxes, or molecular reservoirs, that store active ingredients for long-lasting, controlled, and continual release. OMVs are environmentally friendly – green, organic and fully biodegradable. The company is now exploring the use of OMVs in industries including pharmaceuticals, petrochemicals, agrochemicals, food, environmental remediation, and biotechnology.

PanaceaNano engages in a range of activities including research and development, platform/product development and high-volume manufacturing. The company has filed more than 30 patents and expects to file twice that number over the next couple of years.

“We are extremely happy to receive this prestigious award,” said Botros, CEO of PanaceaNano. “With two licensing and manufacturing deals signed in 2019, we believe that we are poised for growth in many other areas that would benefit from this technology.”

“It’s heartening to see the growing interest and use of OMVs,” said Sir Fraser, PanaceaNano’s Chief Technology Officer. “Not all great research ideas become commercially viable and it’s rewarding to see OMVs make this transition. There is a wide variety of industries that could benefit from this technology.” In addition to winning the 2016 Nobel Prize in Chemistry, in 2007 Stoddart received the Albert Einstein World Award in Science from the World Cultural Council and was appointed a Knight Bachelor by Her Majesty Queen Elizabeth II.

The Chicago Innovation award represents the Chicago region’s foremost recognition for innovative products or services each year. The winners were announced at Chicago’s Harris Theatre on October 28, with nearly 1500 business and civic leaders, and supporters of innovation in attendance.

About PanaceaNano

PanaceaNano was established in 2015 by Sir Fraser Stoddart, the 2016 Nobel Laureate in Chemistry, and Dr. Youssry Botros, a former Research Director at Intel Corporation. PanaceaNano is pioneering the development and manufacturing of molecularly engineered organic systems, including its proprietary Organic Molecular Vessel (OMV) technology that creates microscopic reservoirs that store a large supply of active ingredients for long-lasting, controlled, and continual release. The company has developed and licensed several other patented technologies in areas including cosmetics, health, water and energy.

For more visit https://www.panaceanano.com/

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20191029006126/en/