WEST HAVEN, Conn.--(BUSINESS WIRE)--
NanoViricides, Inc. (OTC BB: NNVC) (the "Company") announced today that its President, Dr. Anil Diwan, will present an overview of the company at the 15th Annual BIO CEO and Investor Conference. The Conference is being held at the Waldorf-Astoria Hotel in New York City (http://www.bio.org/events/conferences/15th-annual-bio-ceo-investor-conference).
NanoViricides, Inc. presentation is scheduled for 11:30 am EST tomorrow, February 12th, in the Conrad Room.
The first ever orally active nanomedicine has been developed by NanoViricides, Inc. This oral anti-influenza drug candidate has shown very high bioavailability. NanoViricides also has an injectable anti-influenza drug in development towards clinical studies for serious cases of influenza. A pre-IND meeting with the FDA has helped the Company build its FluCide anti-influenza therapeutics program towards human clinical trials. Both the oral and injectable anti-influenza drug candidates have shown significant superiority over oseltamivir (Tamiflu) in highly lethal animal model studies. Both drug candidates have shown strong activity against multiple, unrelated influenza types, suggesting that they indeed have broad-spectrum effectiveness against most if not all influenza viruses.
NanoViricides has also shown that its drug candidates against HIV/AIDS, even while being used as a single agent, had effectiveness equivalent to a triple drug HAART cocktail therapy in the standard humanized SCID-hu Thy/Liv mouse model. Further, viral load suppression continued, even after the nanoviricide drug treatment was stopped, for at least 4 weeks from last dosage, in contrast to current drugs which require daily therapy. This mouse model possesses human lymphocytes and results from this model are known to correlate well with human clinical studies. The Company believes that its HIVCide drug candidate will provide a Functional Cure of HIV/AIDS. A functional cure means that all anti-HIV and related medications can be discontinued until a new resurgence of the virus results from awakening of some latent reservoirs, which can take several months to several years.
NanoViricides has recently announced that it has raised $6M from private long-term investors (family offices) and a charitable foundation, resulting in approximately $19M cash in hand. The Company estimates that it has sufficient cash available to be able to conduct initial human clinical trials for its anti-influenza drug candidate.
NanoViricides is close to completing the design phase for its cGMP clinical trials drug substance production facility in Connecticut. The Clean Room suite for the production of clinical drug substance is being designed, fabricated, and installed by AES Clean Technology, Inc. As previously announced, privately held Inno-Haven, LLC, founded by Dr. Diwan, who is also the Companys President and Chairman, has purchased an 18,000 sq. ft. building on approximately 4.3 acres in September 2011 with funding raised privately. The capital costs of the building and construction project are also being borne by Inno-Haven, LLC with funding from private sources that include loan arrangements. In order to minimize the capital costs, NanoViricides, Inc. intends to lease the completed facilities. A memorandum of understanding to that effect was signed today and requires a lease agreement to be signed before March 31, 2013. The renovation project is estimated to be completed in October, 2013, followed by occupancy and certifications by early 2014.
The Company is developing a broad range of anti-viral therapeutics against a number of different viruses. This is enabled by its novel nanoviricides platform technology. A nanoviricide is designed to look like the cell surface to the virus, complete with the landing sites that the virus seeks on the cell surface to bind to the cell and thereafter enter the cell. These landing sites are designed into the nanoviricide by chemically incorporating ligands to which the virus is expected to bind. The Company strives to develop ligands that closely mimic the native landing sites of the virus, using in-silico modeling or molecular docking studies. Even as a virus mutates constantly, these landing sites to which the virus binds remain the same. The Company therefore believes that its drugs would be effective against a large range of strains and mutations of a given virus.
In addition to Influenza and HIV, the Company has developed drug candidates against Dengue and Adenoviral Epidemic Kerato-Conjunctivitis (EKC) that have all shown extremely high efficacies in pre-clinical animal studies. The Company has also developed drug candidates against Herpes that have shown strong efficacies in pre-clinical studies. These additional four commercially important programs are at pre-clinical candidate optimization stage. The Company has several R&D programs against many other viruses including Ebola/Marburg and Rabies viruses.
The Company thus has a broad drug pipeline, enabled by its novel, first-in-class, platform technology.
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NanoViricides to Present at the 15th Annual BIO-CEO Conference in NYC Tomorrow