NanoViricides Says Injectable FluCide™ Selected in Top Ten Project to Watch - Presentation Today at the Therapeutics Area P...
November 20 2014 - 2:15AM
Business Wire
NanoViricides, Inc. (NYSE MKT: NNVC) (the "Company"), announced
today that its “Injectable FluCide™” drug candidate for severe
influenza has been chosen as one of the “Top Ten Infectious
Diseases Projects to Watch” by a panel of industry experts
assembled by Informa and the publishers of In Vivo, Startup and The
Pink Sheet. As a result of this selection, Anil R. Diwan, PhD,
President and Chairman of the Company, will give a company
presentation at the Therapeutic Area Partnerships Meeting taking
place on November 19-21, 2014, at the Hyatt Regency Boston
(www.tapartnerships.com). The presentation is scheduled for 4:20pm
Eastern time, today, November 20, 2014.
"Selected companies have been screened using a strict set of
judging criteria for the Top 10 award and represent what our
committees consider among the most attractive opportunities the
industry has to offer," said Marc Wortman, Editorial Director,
Therapeutic Area Partnerships. "Winners have met rigorous criteria,
including: unmet medical need, market potential, diversity of
indications, strong science, multi-level partnering opportunities
(biotech and pharma), potential for new opportunities beyond
initial indications and corporate stability. As the industry leader
in strategic analysis and transaction tracking, our main goal is to
give these companies exposure to potential investors, partners, and
acquirers.”
The Company reports that all of its drug development programs
are progressing satisfactorily and that it will continue to provide
updates as appropriate.
In particular, the synthesis of anti-Ebola drug candidates is
progressing satisfactorily. The Company has recently reported that
it has signed a “Cooperative Research and Development Agreement -
Materials Transfer Agreement (CRADA-MTA)” with the US Army Medical
Research Institute of Infectious Diseases (USAMRIID) for biological
testing of these candidates. The Company is working expeditiously
on its anti-Ebola program at present, in order to develop an
effective drug candidate that may be available in response to the
current Ebola epidemic crisis. The Company has the ability to
produce sufficient quantities of a successful drug candidate for
potential field use.
The Company has developed a state-of-the-art nanomedicines
manufacturing facility that will be capable of producing any of the
Company’s drug candidates in a cGMP-compliant manner in
multi-kilogram quantities. This facility will be able to provide
the cGMP clinical drug substances for the Company’s future human
clinical studies. (“c-GMP”= current Good Manufacturing Practices).
The Company’s Board of Directors has authorized acquisition of this
facility from Inno-Haven, LLC, rather than leasing it. The
acquisition process is in the due diligence phase at present, and
is expected to be concluded soon.
Initial large animal safety/toxicology studies in the Company’s
FluCide™ drug development program have begun at BASi, as previously
reported. In addition, the Company is performing process
development and scale up studies on its FluCide™ drug candidate in
its existing facilities. The extremely high safety of FluCide has
resulted in a very large quantity requirement for the GLP
Safety/Toxicology studies, necessitating scale-up studies at this
early stage.
The Company estimates that it now has approximately $42.6
Million (M) of current assets plus restricted cash in hand. The
Company estimates that this funding is sufficient to enable us to
perform initial human clinical trials of our injectable FluCide™
drug candidate, as well as possibly to advance our DengueCide™
orphan drug candidate towards initial human clinical trials. As
previously reported, our strong cash position has enabled us to
restart our anti-Ebola drug development program in response to the
current epidemic. The Company’s estimates are based on its current
rate of expenditure and also on certain approximate estimates for
clinical development of its drug candidate as gleaned from
discussions with various contract research organizations.
About NanoViricides:
NanoViricides, Inc. (www.nanoviricides.com) is a development stage company that is creating
special purpose nanomaterials for antiviral therapy. The Company's
novel nanoviricide® class of drug candidates are designed to
specifically attack enveloped virus particles and to dismantle
them. The Company is developing drugs against a number of viral
diseases including H1N1 swine flu, H5N1 bird flu, seasonal
Influenza, HIV, oral and genital Herpes, viral diseases of the eye
including EKC and herpes keratitis, Hepatitis C, Rabies, Dengue
fever, and Ebola virus, among others.
This press release contains forward-looking statements that
reflect the Company's current expectation regarding future events.
Actual events could differ materially and substantially from those
projected herein and depend on a number of factors. Certain
statements in this release, and other written or oral statements
made by NanoViricides, Inc. are “forward-looking statements” within
the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934. You should not
place undue reliance on forward-looking statements since they
involve known and unknown risks, uncertainties and other factors
which are, in some cases, beyond the Company's control and which
could, and likely will, materially affect actual results, levels of
activity, performance or achievements. The Company assumes no
obligation to publicly update or revise these forward-looking
statements for any reason, or to update the reasons actual results
could differ materially from those anticipated in these
forward-looking statements, even if new information becomes
available in the future. Important factors that could cause actual
results to differ materially from the company's expectations
include, but are not limited to, those factors that are disclosed
under the heading "Risk Factors" and elsewhere in documents filed
by the company from time to time with the United States Securities
and Exchange Commission and other regulatory authorities. Although
it is not possible to predict or identify all such factors, they
may include the following: demonstration and proof of principle in
pre-clinical trials that a nanoviricide is safe and effective;
successful development of our product candidates; our ability to
seek and obtain regulatory approvals, including with respect to the
indications we are seeking; the successful commercialization of our
product candidates; and market acceptance of our products.
NanoViricides, Inc.Amanda Schuon,
310-550-7200info@nanoviricides.com
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