Funding
NanoCor has secured $500,000 in private funding and obtained significant grant proceeds from the National Institute of Health and other sources for the conduct of large animal trials. This funding will support ongoing preclinical research, licensing, business development and partnering activities.
In August 2007, Medtronic, Inc. invested $3.75 million in NanoCor. Medtronic has also agreed to invest an additional $3.75 million upon NanoCor meeting certain milestones. In connection with the investment, Medtronic acquires certain rights to exclusively license NanoCor’s therapeutic for the treatment of CHF.