Nanobiotech Center Wins $2.5 Million, 4-Year Grant

Triad-Based Center of Innovation To Commercialize NC's Nanobio Ideas

RESEARCH TRIANGLE PARK, N.C., June 16 /PRNewswire-USNewswire/ -- The North
Carolina Biotechnology Center has approved a four-year, $2.5 million grant for
the Center of Innovation in Nanobiotechnology (COIN) to develop the commercial
potential of nanobiotechnology research from universities across the state.

"Nanobiotechnology is an exciting new discipline that has the potential to
change everything from textiles to medical devices. This Center of Innovation
will help commercialize more of the nanobiotech breakthroughs being made in
North Carolina laboratories," said Mary Beth Thomas, senior director of the
Centers of Innovation program at the Biotechnology Center.

Nanotechnology involves structures between one and 100 nanometers in
size--roughly 10,000 times thinner than a sheet of paper. Companies in North
Carolina are already working on nanoparticles that treat disease by carrying
new genes to certain cells, and sunlight-powered nano-scale coatings that kill
microbes on hard surfaces and fabrics.

The four-year award to COIN builds on a $100,000 planning grant given by the
Biotechnology Center last year. That money was used to hire an executive
director and develop a business plan, making the Nanobiotech Center eligible
for the current round of funding. With the new award, COIN will establish
itself as an independent, self-sustaining entity. The $2.5 million will be
paid as business milestones are reached.

Key partners in the planning effort included North Carolina Agricultural and
Technical State University, the University of North Carolina at Greensboro and
Wake Forest University.

"This is the first major grant developed jointly by these three research
universities," said Gwyn Riddick, director of the Biotechnology Center's
Piedmont Triad Office and one of the initiative's original supporters. "In
developing nanobiotechnology, we aim to create a strong, region-specific
science brand for the Piedmont Triad and the state."

COIN owes much of its success to the efforts of strong collaborators,
including the Joint School for Nanoscience and Nanoengineering and academic
and industry partners statewide. The Piedmont Triad Partnership, a nonprofit
economic development corporation, has administered the grant and provided
office space during the planning phase.

"It's been my pleasure to work with a talented, committed team on a project of
this magnitude," said Don Kirkman, president and CEO of the Piedmont Triad
Partnership. "Innovation is at the heart of vibrant economies, and we are
excited about harnessing North Carolina's talent for innovation to create a
framework for new companies, products and jobs."

Biotech veteran Brooks Adams was hired in January to be executive director of
the planning effort and will assume the same role in the independent COIN.

"Our mission is to connect the dots in the world of nanobiotechnology,
including academic and industry researchers, entrepreneurs, managers and
investors," said Adams. "This center will use nanobiotech to add value, meet
market needs, solve problems and benefit humanity. The result will be economic
growth and job creation across the state."

In accord with the Center of Innovation program's statewide purview, the COIN
core group now includes Duke University, North Carolina State University, the
University of North Carolina at Chapel Hill and UNC-Charlotte.

COIN is one of four Centers of Innovation created by the Biotechnology Center
to accelerate commercialization in areas of particular economic promise,
including marine biotechnology, drug discovery, and advanced medical
technologies. In addition to their technology-development efforts, the Centers
will coordinate research leading to commercial opportunities and sector
development.

The Biotechnology Center is a private, non-profit corporation supported by the
N.C. General Assembly. Its mission is to provide long-term economic and
societal benefits to North Carolina by supporting biotechnology research,
business, education and strategic policy statewide.

Contact: Chris Brodie, director of communications and media relations, North
Carolina Biotechnology Center, chris_brodie@ncbiotech.org or 919-541-9366.
Visit the Biotechnology Center's Web site at www.ncbiotech.org.

SOURCE North Carolina Biotechnology Center

Chris Brodie of the North Carolina Biotechnology Center, +1-919-541-9366,
chris_brodie@ncbiotech.org