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| One of Keystone Nano's patents is for a product called NanoJackets, which can encapsulate drugs and/or fluorescent molecules. |
Keystone Nano, which uses nanotechnology to enhance cancer treatments, recently announced that it will add up to six doctorate-level jobs at its State College office as the company prepares to commercialize its technology. CEO Jeff Davidson says the new hires could double or triple the size of the small company.
Davidson and partners James Adair, Mark Kester and Robert Cornwall founded the company in 2005 and hired the first employee in 2006. The company has licensed two Penn State patents and has recently developed a drug delivery platform based on their technology. In September, Ben Franklin Technology Partners of Central and Northern PA (BFTP/CNP) announced a $200,000 investment to help commercialize the company's nanoparticle technology, which is called NanoJackets.
Keystone Nano got off the ground in large part through funding from BFTP, which has invested $385,000 in the company since 2006. Penn State's Intellectual Property Office helped guide the formation of the company, negotiated a license agreement and introduced Davidson to the organization. BFTP's Transformation Business Services Network also provided critical business development expertise.
"BFTP has been terrific," Davidson says. "Small companies don't have as wide a range of skill sets on board as more established businesses, so they provide invaluable expertise far beyond the funding." |
