One of the most successful companies in Michigan, Ann Arbor-based NanoBio Corp., has announced Wednesday morning that they have signed an agreement with GlaxoSmithKline for over-the-counter sale of a topical cure for cold sores.

This agreement will give NanoBio an upfront fee of $14.5M. They will also get an additional payment that will amount to $40 M plus royalties on future sales.

NanoBio has already given the compound where it has shown effectiveness in killing viruses during the Phase II U.S. Food and Drug Administration clinical trials under the working name of NB-001.

If the Phase III trials will be successful, FDA will approve it for sale and the British-based phramaceutical will be able to market it in Canada and U.S.

Find an Ann Arbor Pharmacy in the Directory of Ann Arbor, MI.