| ______________________________________________________________________________________________ 2005-12 All rights Reserved Biolaxy |
| Series B Financing for NOD Closed |
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| Leader in Oral Delivery of Biopharmaceuticals |
Shanghai, China, Dec. 30, 2006 /For Immediate Release/ -- NOD Pharmaceuticals today announced the
closing of series B financing of US$5.5 million. BioVeda China is the leading investor in this series of
financing.
"The proceeds from series B funding will allow the Company to complete clinical development of its
leading product candidate, Nodlin, in China", William Lee, CEO of NOD Pharmaceuticals, explains.
Oral insulin and other products are developed with nano-particle oral delivery or NOD technology and are
being developed first in China to take advantages of the lower cost and short development cycle in China.
NOD technology uses nano-partilces as carrier to efficiently deliver bio-active macromolecular drugs
such as insulin or interferon via oral route. NOD Pharmaceuticals, Inc. is a biopharmaceutical company
focusing on innovative drug delivery.
Other investors participated in this round of financing include China Renaissance Capital Investment,
Besto Holdings, and BioVeda.
SOURCE NOD Pharmaceuticals, Inc.
William Lee, Ph.D, CEO of NOD Pharmaceuticals, Inc., 86-21-5132-0478
www.nodpharm.com
info@nodpharm.com
closing of series B financing of US$5.5 million. BioVeda China is the leading investor in this series of
financing.
"The proceeds from series B funding will allow the Company to complete clinical development of its
leading product candidate, Nodlin, in China", William Lee, CEO of NOD Pharmaceuticals, explains.
Oral insulin and other products are developed with nano-particle oral delivery or NOD technology and are
being developed first in China to take advantages of the lower cost and short development cycle in China.
NOD technology uses nano-partilces as carrier to efficiently deliver bio-active macromolecular drugs
such as insulin or interferon via oral route. NOD Pharmaceuticals, Inc. is a biopharmaceutical company
focusing on innovative drug delivery.
Other investors participated in this round of financing include China Renaissance Capital Investment,
Besto Holdings, and BioVeda.
SOURCE NOD Pharmaceuticals, Inc.
William Lee, Ph.D, CEO of NOD Pharmaceuticals, Inc., 86-21-5132-0478
www.nodpharm.com
info@nodpharm.com