The Company's Update on its Development of COVID-19 Drug Candidate is Promising
Vancouver, British Columbia--(Newsfile Corp. - March 31, 2020) - NanoViricides, Inc. (NYSE American: NNVC) (the "Company") is a nano-biopharmaceutical Company at the development stage, with proprietary and patented drug development work focused on viral diseases. The Company's research involves the use of a unique nanomedicine technology called nanoviricides -- agents designed to "fool" a virus into attaching to an antiviral nanomachine, in the same way that the virus normally attaches to the receptors on a cell surface, but for the purpose of its neutralization and destruction. NanoViricides was highlighted by SmallCapsDaily for providing an update on its progress to develop a drug that can treat COVID-19, the coronaviral pneumonia disease which is caused by the SARS-CoV-2 virus, aka, 2019-nCoV, also known as the Wuhan coronavirus. After first emerging as an epidemic in Hubei province, centered on the Wuhan metro area in China, COVID-19 has been declared a global pandemic, affecting more than 785,000 people across the globe, in more than 178 countries, including more than 160,000 reported cases in the United States, with disease occurrence in all 50 states and in 4 territories. The extreme quarantine guidelines implemented by the federal government, with similar measures adopted in various states, has resulted in turbulence in the global financial markets and long term school closures occurring in the USA.
Key Take-Away's from the Small Caps Daily Article:
- NanoViricides has its own cGMP manufacturing capability for its complex nanomedicine drugs. This has enabled management to optimize production time to a safety/tox study quality drug product and to minimize related costs.
- NanoViricides' research team has completed the synthesis of a number of nanoviricide drug candidates for testing in just a few weeks after identification of virus-binding ligands.
- NanoViricides is working to establish collaborations for testing its drug candidates against SARS-CoV-2, similar to its previous collaborations with the U.S. Center for Disease Control and Prevention (CDC), as well as the U.S. Army Medical Research Institute of Infectious Diseases (USAMRIID).
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About NanoViricides
NanoViricides, Inc. () 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. Our lead drug candidate is NV-HHV-101 with its first indication as dermal topical cream for the treatment of shingles rash. The Company is also developing drugs against a number of viral diseases including oral and genital Herpes, viral diseases of the eye including EKC and herpes keratitis, H1N1 swine flu, H5N1 bird flu, seasonal Influenza, HIV, Hepatitis C, Rabies, Dengue fever, and Ebola virus, among others. The Company's technology is based on broad, exclusive, sub-licensable, field licenses to drugs developed in these areas from TheraCour Pharma, Inc. The Company does not currently have a license to the coronavirus field, however, TheraCour has not denied any licenses to the Company. The Company typically begins the licensing process only after demonstrating effectiveness of some candidates in optimization stage. 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 preclinical 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. FDA refers to US Food and Drug Administration. IND application refers to "Investigational New Drug" application. CMC refers to "Chemistry, Manufacture, and Controls".
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