Nanotherapeutics Inc. has partnered with the Department of Defense to help combat bioterrorism threats in a deal that could be worth $360 million over the next ten years.
The biomedical technology company was awarded a $135.8 million contract plus a fixed-fee increment of $70.8 million to assist in researching and developing medical treatments to combat bioterrorism threats and outbreaks of naturally occurring and genetically engineered infectious diseases. The work will be conducted in Alachua, with the contract ending in March of 2015.
To handle the demands of the contract, Nanotherapeutics plans to build an expansion on private land adjacent to the Progress Corporate Park in Alachua as well as hire up to 150 new employees.
The company currently has 55 employees and is headquartered in Progress Corporate Park.
Nanotherapeutics will work to develop cheaper and more effective methods to handle biological and radiological threats, according to bid documents.
This isn’t the company’s first time working with the Department of Defense; Nanotherapeutics received a contract from the department in 2010 to research and develop treatments for dehisced surgical wounds, or surgical wound closures that reopen due to age, diabetes, obesity or trauma to the wound. The company has also worked with the Department of Health and Human Services, the Biomedical Advanced Research and Development Authority (BARDA) and the National Institute for Allergy and Infectious Diseases regarding
Nanotherapeutics was founded in 2000 by Jim Talton, who still serves as its president. The company was a resident of UF’s Sid Martin Incubator from its founding in 2000 until 2008, when the company moved operations to a nearby building in Progress Corporate Park.