NanoViricides in Discussions with Pharma about EKC Eye Drug CandidateWEST HAVEN, Conn.--(BUSINESS WIRE)--May 28, 2008 - NanoViricides, Inc. (OTC BB: NNVC.OB) (the "Company"), said that it has signed or has in attorney-review non-disclosure agreements with major pharmaceutical companies to enable further discussions regarding the Company's nanoviricide drug candidate against Epidemic Kerato-Conjunctivitis (EKC). "We have already scheduled meetings to discuss the results of our recent animal studies against EKC," said Eugene Seymour, MD, MPH, CEO of the Company, adding, "We have significant interest from several large pharma companies in both USA and abroad."
The Company has previously reported that it has received rapid and significant clinical response using a nanoviricide drug candidate eye-drop treatment in animal eyes. EKC was induced by Adenovirus 5 viral infection in this study. The study is now in its final stages and the biological samples collected will be analyzed over the next several weeks.
"We initiated the EKC project as a result of specific interest from certain pharmaceutical companies," said Dr. Seymour. "We are very pleased with our initial success, despite the fact that adenovirus is a non-enveloped virus," said Anil R. Diwan, PhD, President of the Company, adding, "It took us a very short time to develop and field a drug candidate against EKC; just a matter of months. This demonstrates the robustness of our underlying technology. We had strong theoretical basis in designing nanoviricide drug candidates against these non-enveloped adenoviruses."
EKC is a severe and contagious viral infection of the eye in humans. It may cause impaired vision and may lead to blindness. EKC is primarily caused by adenoviruses, although some other viruses may also be the causative agent in humans. EKC may also be caused in some cases by bacterial infections, which are treatable with antibiotics. There is no treatment currently available for viral EKC.
The Company anticipates that the eye-drop formulation of the broad-spectrum nanoviricide drug candidate which was successful against adenoviral EKC may have significant potential against other viral EKC and the less severe viral conjunctivitis diseases as well. Viral conjunctivitis is highly contagious and occurs primarily in schools and other crowded settings, as well as in immuno-compromised populations. While the Company currently has no approved product for the treatment of EKC and viral conjunctivitis, the treatment and prophylaxis market for EKC is expected to be of the order of several billion dollars annually.
NanoViricides, Inc. (www.nanoviricides.com) is a development stage company that is creating special purpose nanomaterials for viral therapy. The Company's novel nanoviricide(TM) 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 H5N1 bird flu, seasonal influenza, HIV, EKC, 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. Forward-looking statements involve risks and uncertainties. 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. These forward looking statements are subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance, or achievements of the company to be different from those expressed or implied including the success of the Company's research and development efforts, the availability of adequate financing, the successful and timely completion of clinical studies and the uncertainties related to the regulatory process, described in the "Management's Discussion and Analysis" section of the Company's Form 10-KSB and other reports and filings with the Securities and Exchange Commission.
Amanda Schuon, 310-550-7200
Posted: May 2008