|[August 12, 2014]
NanoViricides to Ring Opening Bell at New York Stock Exchange
WEST HAVEN, Conn. --(Business Wire)--
NanoViricides, Inc. (NYSE MKT: NNVC)
(the "Company"), a nanomedicines company developing drugs that viruses
would not readily escape, will ring The Opening Bell® at the New York
Stock Exchange (NYSE) on Wednesday, August 13, 2014, tomorrow.
NanoViricides began trading on NYSE MKT as of September 25, 2013.
The event will be webcast on Livestream beginning at 09:26am via the url http://new.livestream.com/NYSE.
"We are proud to ring The Opening Bell on behalf of our team and
investors to celebrate our new cGMP manufacturing capability that
enables us to move our drug development programs into the clinic
rapidly," said Anil R. Diwan, PhD, President and Chairman of the Company.
"Listing on NYSE MKT has enabled us to raise substantial levels of
financing because of which we are now able to restart important R&D
programs such as Ebola," said Dr. Eugene Seymour, MD, MPH, CEO of the
Company, adding, "Now we also have the ability to manufacture sufficient
quantities of our nanoviricides drugs for small outbreaks such as the
current Ebola outbreak in Africa or the MERS outbreak in the Mid-East."
Dr. Seymour and Dr. Diwan will be joined by other members of the
management team and board of directors at the event. In addition to the
live webcast, photos and video of the NYSE bell ringing will also be
available, courtesy of the NYSE, on Facebook (News - Alert) (NYSE),
Twitter (News - Alert) (@NYSE
and YouTube (News - Alert) (nysetv1).
The Company's first drug candidate, NV-INF-1, Injectable FluCide™, is
designed to treat all influenza infections in hospitalized patients. The
Company has a rich pipeline comprising six drug candidates with proven
effectiveness against commercially important diseases. These include
Injectable FluCide™, Oral FluCide™ for out-patients, DengueCide™ for
Dengue Severe Syndrome and Dengue Hemorrhagic Fever, HIVCide&rade;, a
potential "functional cure" for HIV/AIDS, HerpeCide™ skin cream for oral
and genital herpes, and nanoviricide® eye drops for viruses infecting
the eye including conjunctivitis and keratitis causing viruses. In
addition, the Company has R&D programs in diseases of important global
public health impact such as Rabies, MERS, and Ebola. All of the
Company's programs are in pre-clinical stages, with NV-INF-1 in
The Company's nanoviricide nanomedicine platform technology has been
designed for extremely high effectiveness as well as safety.
The Company's drugs are based on our biomimetic nanoviricide® platform.
A virus-binding ligand is developed to copy the binding site of the
virus on the cell surface. A number of ligands are chemically attached
into each polymer chain of our nanomicelle backbone polymer. The
resulting nanoviricide forms micelles in solution that would "look like"
the cell surface to the virus. The virus is expected to bind to it, and
the nanomicelle is then thought to engulf the virus, and possibly also
to destroy it.
A Virus is not expected to escape a well designed nanoviricide drug
because any mutations that allow this to happen would also reduce the
ability of the virus to bind to the cell and cause infection.
This biomimicry would also result in nanoviricide drugs that are
effective against most if not all viruses of a given kind, making them
broad-spectrum antivirals. For example FluCide™ has been shown to be
effective against both Type I and Type II influenza viruses, and is
expected to be effective against bird flu (H5N1), high path viruses,
pandemic and epidemic influenzas, as well as the seasonal influenza
viruses. This is because the ligand in FluCide mimics sialic acid, the
natural receptor for all influenza viruses.
The Company currently has approximately $41 million cash-in-hand and
cash-like-instruments. These funds are estimated to be sufficient for
taking at least one of our drug candidates through initial human
clinical trials, and possibly take another drug candidate into human
NanoViricides, Inc. now has its own drug manufacturing facility that is
capable of producing sufficient quantities of an anti-Ebola drug after
it is developed, for combating future Ebola epidemics. This highly
customizable nanomedicines cGMP capable pilot scale manufacturing
facility will be able to supply all of the nanoviricides drug candidates
in quantities needed for human clinical trials.
Thus, NV-INF-1, Injectable FluCide™, has demonstrated unparalleled
effectiveness and safety in animal models. Influenza A H1N1 infected
animals treated with FluCide survived the full 21-day observation
period, whereas animals treated with 40mg/kg/d oseltamivir phosphate
(Tamiflu®) survived only 8 days in this highly lethal study. NV-INF-1
demonstrated an unparalleled 1,000-fold reduction in lung viral load
compared to untreated animals on day 4 in this lethal animal model
study. Moreover, the lung viral load remained suppressed to this
baseline level. In contrast, the current standard of care, oseltamivir,
(Tamiflu®, Roche) exhibited only a 2-fold reduction in lung viral load
at day 4, that rapidly rose by approximately 2X (News - Alert) on day 7. NV-INF-1 also
caused the lungs of treated animals to remain substantially healthier
than the untreated control or oseltamivir-treated mice. Further,
NV-INF-1 has been found to be extremely safe in preliminary
is a development stage company that is creating special purpose
nanomaterials for viral 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.
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