The US Food and Drug Administration plans to hold a public meeting this fall to hear from nanotechnology researchers about new developments and challenges involving the use of nanotech materials in FDA-regulated products. "The FDA needs to take a position to help guide product development that's on the cusp of happening," says Michael Arbige, senior vice president of technology for Genencor, a Palo Alto, Calif.-based biotech company that uses nanotech to develop products for the healthcare and biotech industries. "We're very anxious to hear the feedback."
Ted Sullivan, an analyst for New York City-based Lux Research, estimates the market for the use of nanotechnology in drug delivery systems at $1.3 billion for 2005, with a 35% annual growth rate projected for the next five years. "Nanotechnology is also being used in therapeutics," says Sullivan. He points to examples including Berlin-based MagForce Nanotechnologies, which is testing magnetic nanoparticles to burn away...
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