Executive Summary

ElizaNor Polymer can best be described as a nanotech company. Broadly speaking we have designed nanoparticles for (i) therapeutics, i.e. encapsulation and/or the targeted delivery of compounds, (ii) dentistry (iii) dermal fillers and cosmetics (iv) environmental applications.

The Company was created in October of 2000 for the purpose of funding the technology being developed by a chemistry professor, Dr. Janos Borbely, at the University of Debrecen located in Hungary’s second largest city of the same name. ElizaNor Polymer has a Licensing Agreement with the University of Debrecen which grants to the Company the exclusive rights to all of the technology produced in Dr. Borbely’s laboratory. More recently, Dr. Borbely has established, a sister company of ElizaNor's, BBS Nanotechnology, Kft located in Debrecen , of which ElizaNor Polymer will be the majority owner.

ElizaNor Polymer is an LLC with a total of seven investors. John Hartmann, Founder and CEO, is the major shareholder. All other investors are a son, friends and acquaintances of the CEO. To date, approximately $1.1 million has been invested in Dr. Borbely’s technology.

Targeted Delivery: The results of our first set of experiments with one of our delivery particles demonstrated a number of critically important points: (i) the ElizaNor particle with a targeting molecule was taken up by cancer cells in vitro; (ii) the uptake of the particle lacking the targeting molecule was significantly less; (iii) preliminary in vitro and whole mouse studies with our delivery particles failed to show any toxicity. Although early, these results are extremely encouraging and as a next step we have undertaken the preparation of particles with appropriate payloads. It has already been demonstrated that the particle will carry an siRNA-sized payload into HeLa cells. Finally, this particle is designed to avoid potential FDA-generated objections to systemically applied encapsulation-delivery systems.

Composite Fillings: Modern dentistry has been replacing the traditional mercury-based dental fillings with so-called composite fillings. These products lack the potentially toxic metallic component that characterized dental fillings of the past. Basically, the composite filling consists of two sectors: inorganic and organic phases. The former is made up of silicates and other inorganic materials; the organic phase consists largely of monomers which are to be photo-polymerized with a blue light source after placing the preparation in the dental cavity. Our organic phase formulation overcomes and improves upon the limitations of the competitive non-metallic fillings because a significant portion of the polymerization step occurs prior to placement of the filling into the dental cavity. This results in performance improvements of the composite filling described below.

ElizaNor's inventor, Dr. Janos Borbely, has developed a dramatically different approach to dental composite fillings. By replacing as little as 2% of the organic phase of a widely used commercial product with our "reactive polymer-based nanoparticle" or RPNP, which creates a "nanocomposite", the following improvements were observed in the organic phase: (1), mechanical strength was enhanced by 45-70%, (2) despite the increase in mechanical strength, flexibility was enhanced, (3) shrinkage was reduced by approximately 50% to 1.46%. Finally, this was accomplished in an appropriate miscible environment with compatible viscosity.

Market size: In 1998 within the USA alone, there were a total of 85,788,400 resin restoration procedures (39,672,100 anterior and 46,116,300 posterior, Figures were supplied by the American Dental Association).
Dermal Fillers and Cosmetics

ElizaNor's Hyaluronan Nanoparticles (Hnp) as Dermal Fillers: In this effort, ElizaNor is collaborating with a well known investigative dermatologist to develop Hnp for cosmetic applications and as an injectable dermal filler. Dermal fillers are a relatively new treatment for lower facial creases and wrinkles that require injection by a physician. Injections must be repeated at 6-8 month intervals and cost $600-$900/session. Presently, two companies market essentially the same molecular linear version of Hnp in different formulations for the purpose of reducing or eliminating the "smile lines", the crease which extends from the nose to the corners of the mouth.

The conversion of the linear hyaluronan polymer to a globular-shaped nanoparticle, as ElizaNor has accomplished, results in a dramatic reduction in viscosity or thickness of the preparation. This is an important consideration, because the current products are injected with a very fine needle which, due to the linear polymer's high viscosity, does limit the quantity of hyaluronan that can be injected. Thus, replacement of linear hyaluronan with our nanoparticle version will very likely allow greater flexibility in the quantity of injectable material.

Market size: The overall "aesthetic medicine" market of which dermal fillers are a part, and excluding physician services, is expected to reach $ 6.5 billion in five years (WSJ, 5 Oct.,'06), and has been estimated to expand annually at a rate of 25%.

Final note: Presently, ElizaNor is collaborating with a well known investigative dermatologist for the purpose of developing our Hnp as a topical has prepared samples for a market-leading cosmetic firm, whose interests are in the potential inclusion of the Hnp in a topical cosmetic product. They have asked us to prepare cost estimates for 100 kgm quantities.
Environmental and Recovery of Precious Metal Applications

Paint and Coatings: By converting the linear polymers in solvent-borne paints and coatings to a cross-linked nanoparticle, a reduction of toxic solvents used to dissolve the polymers results.

Toxic metal removal from water: ElizaNor has created a nanoparticle composed of a biodegradable biopolymer which is capable of removing lead, for example, from contaminated water. The use of a biodegradable polymer is important because it allows the safe composting of the spent nanoparticle (after removal of the metal). Furthermore, we have demonstrated that this particle is two-three time more effective at lead removal than standard ion exchangers presently employed.

Recovery of precious metals: We have demonstrated that in addition to lead, gold and other precious metals also bind to our biodegradable nanoparticle. Thus, the recovery of gold, for example, present in the washes of the ore containing gold can be recovered in an environmentally compatible manner.
Intellectual Property

US patent applications and in one case a PCT application have been filed and are pending for all of the technologies described.