• Monday, 21 January 2019

PanaceaNano, Inc. Receives the Chicago Innovation Award for 2018

CHICAGO: PanaceaNano, Inc., www.panaceanano.com, a pioneering company specializing in the development and commercialization of molecularly engineered organic systems, has been named one of the winners of The 17th Annual Chicago Innovation Awards, www.chicagoinnovation.com.

The award is one of the most prestigious business awards given nationwide and represents the Chicago region's foremost recognition for innovative new products or services brought to market each year. The winners were announced at an event held at Chicago's Harris Theater on Monday, October 29, with nearly 1500 business and civic leaders, and supporters of innovation in attendance.

PanaceaNano's winning innovation is its family of biodegradable, porous, functional materials constructed from Organic Nano-Cube (ONC) building blocks. ONC materials are comprised of edible carbohydrate molecules prepared using green chemistry. ONC materials are hollow cubic crystals with large open spaces that can adsorb, store, and transport a wide range of small guest compounds. These highly porous cubic crystals can be employed as carriers for active pharmaceutical ingredients or for topical delivery of a wide range of actives.

The winning innovation has already experienced its first wave of commercialization with the production of new Organic Molecular Vessel (OMV) carriers for delivering anti-aging skin care ingredients. Active ingredients in standard skin care products are depleted immediately after application. In contrast, OMV materials function as molecular storage boxes or molecular reservoirs to store a large supply of active ingredients for long-lasting, continual, and effective release.

Sir Fraser Stoddart, the 2016 Nobel Laureate in Chemistry, Co-Founder and Chief Technology Officer (CTO) of PanaceaNano, comments on this recognition by stating, "This award is a well-earned recognition of the creativity of researchers, scientists, and engineers behind the inventions that have been patented by PanaceaNano. The world-class management of PanaceaNano," he added, "has driven the development and release of the first line of Anti-aging Products that is positioned to revolutionize the $500+ billion cosmetics industry. In addition, other tectonic technology advancements in high-growth worldwide markets are planned for monetization."

Dr. Youssry Botros, Co-Founder and Chief Executive Officer (CEO) of PanaceaNano, said, "We are proud and full of thanks for this award. It validates our successful strategy and roadmaps we have adopted since incorporation. This recognition also highlights a hugely successful industry-academic collaboration, namely, our collaboration with Sir Fraser Stoddart's research laboratory and Northwestern University. PanaceaNano anti-aging skin care products using novel OMV materials have demonstrated effective ingredients release that are significantly better than conventional skin care formulations."

This breakthrough in the Cosmetics industry along with the huge success in clinical studies and tests for the products has led to a strategic partnership with Beauty Molecules Inc., www.beautymolecules.com, for exclusive worldwide marketing, sales, and distribution of PanaceaNano skin care products.