Ann Arbor, MI-based NanoBio is beefing up its vaccine work after gaining a significant tax credit from the state. The University of Michigan spinoff is planning to hire 32 workers, with most of the new hires headed for its vaccine research program.
The state MEGA board approved a tax credit for NanoBio valued at $434,378 to encourage the company to expand in Michigan over a competing site near Washington, DC And the company, which is committing $1.4 million to the expansion effort, says that it plans to scout some of the country's top biotech clusters for fresh talent.
"Even though with the Pfizer closure there is a lot of pharmaceutical talent in the area, there's not really much related to vaccines," NanoBio CFO David Peralta tells AnnArbor.com. "So as we've accelerated our recruiting of vaccine talent we've had to go to D.C. and Boston and San Diego and San Francisco to find talent. And it's a challenge bringing them in. I think the state really recognized that and was providing incentives to help us."
- here's the NanoBio release
- and here's the story from AnnArbor.com