NanoViricides Files Quarterly Report

Related Quotes

Symbol	Price	Change
NNVC.OB	0.97	0.00

{"s" : "nnvc.ob","k" : "c10,l10,p20,t10","o" : "","j" : ""}

WEST HAVEN, Conn.--(BUSINESS WIRE)--NanoViricides, Inc. (OTC BB: NNVC.OB) (the "Company"), reports that the Company has filed its quarterly report with the SEC on November 23rd.

The Company reported that it had $4.2 million in cash and cash equivalents as of September 30th, 2009. The Company previously reported that it had successfully raised a total of over $4.3M in different private placement instruments. The details have been disclosed in an SEC Form 8-K filed on October 5, 2009. The Company believes it has sufficient funds to last through the end of December, 2010 at the current rate of expenditure.

The Company now has four commercially important drugs in its pipeline, targeting a total market size of approximately $40 Billion. These drugs target HIV, all Influenzas, viral diseases of the external Eye, and Herpes Simplex viral infections including cold sores and genital herpes (HSV). In addition, the Company has R&D programs in collaborations with reputed institutions against several Neglected Tropical Diseases and agents of interest for Biosecurity. These include hemorrhagic fever viruses such as Ebola/Marburg, Dengue, and Rabies, among others.

Our current drug programs include a pan-influenza drug candidate, “FluCide™”. This drug was recently reported to be highly effective against H1N1 influenza in a lethal animal model, leading to an average 14 days survival. It is generally believed that a 14 day survival in this lethal challenge model would suggest indefinite survival in other standardized animal models. FluCide is designed to be effective against all influenza A strains and mutants. We anticipate FluCide to be effective against highly pathogenic avian influenzas such as H7 and H9, the epidemic bird flu virus H5N1 (various clades), the current novel H1N1/2009 virus, seasonal influenza viruses, and their mutations.

The Company has previously reported that its anti-HIV drug candidate was >25X (or >2,500%) more effective than the oral HAART treatment, on a drug load basis. This study employed a standard SCID-hu Thy/Liv mouse model. Human lymphocytes implanted in a mouse, and infected with HIV, are treated with antiviral drugs in this model. It is very important to note that no adverse events were observed in the nanoviricide treated mice, while the HAART-treated mice exhibited clinical signs of side effects. HAART or “highly active anti-retroviral therapy” is a three-drug combination therapy currently in use in human clinical practice, and is regarded as the most effective therapeutic regimen against HIV. If these preliminary results are confirmed in further animal studies and in human clinical trials, the Company believes that HIVCide™ could very well result in a “Functional Cure” for HIV/AIDS.

The Company has reported significant progress in its topical nanoviricide eye drops program. This drug is designed to treat most viral infections of the external eye, including adenoviral epidemic kerato-conjunctivitis (EKC) and herpes keratitis.

The Company also recently reported that it has successfully added a new anti-HSV drug program to its pipeline this year. The Company‘s topical anti-herpes drug candidate has already demonstrated greater than 10,000-fold (>99.99%, or >4 logs) reduction in virus quantity in cell culture models of HSV-1 infection. Animal model studies of topical and genital herpes are planned.

“We are now well poised to further develop our drug candidates with the objective of filing an IND application as soon as possible,” said Dr. Eugene Seymour, MD, MPH, CEO of the Company.

About NanoViricides:

NanoViricides, Inc. (www.nanoviricides.com) 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.

NanoViricides, Inc.
Amanda Schuon, 310-550-7200
info@nanoviricides.com