The Alliance for NanoHealth is partnering with the FDA. The alliance is comprised of eight academic institutions.

A collaborative effort to step up the creation of safe nanotechnology medical products was announced by the FDA and the Alliance for NanoHealth. The Alliance’s eight member institutions are Baylor College of Medicine, University of Texas M.D. Anderson Cancer Center, Rice University, University of Houston, University of Texas Health Science Center at Houston, Texas A & M Health Science Center, University of Texas Medical Branch at Galveston, and the Methodist Hospital Research Institute in Houston.

The FDA said it and the Alliance’s member institutions will cooperate in a nanotechnology initiative to learn more about how nanoparticles behave and affect biologic systems. The partnership will also develop tests and processes for nanoengineered products.

"The FDA's nanotechnology initiative with the Alliance for NanoHealth is an effort to engage resources and technical expertise in this rapidly advancing field and is a clear example of leveraging science and scientists to advance the public good. Nanotechnology holds great promise for the advancement of novel medical products,” says FDA Acting Commissioner Frank Torti.

BCC Research, Wellesley, MA, predicts that the use of nanotech-related materials, tools, and devices will attain a compound annual growth rate of 14.9% to 19.9% by 2018, with revenue topping $9 billion. Of that, medical devices are expected to account for about 20%.