NanoViricides President Dr. Diwan to Present at the Wall Street Analyst Forum Today, June 19th, in New York City
WEST HAVEN, Conn.--(BUSINESS WIRE)--NanoViricides, Inc. (NYSE MKT: NNVC) (the “Company”) reports that its President, Dr. Anil Diwan, will be presenting at the Wall Street Analyst Forum’s 25th Annual Institutional Investor Conference today at 11:20am Eastern Time at the University Club in New York City. The event is being webcast. To participate, the registration link is http://www.visualwebcaster.com/event.asp?id=99581. Investors interested in attending the presentation in person may register at: www.analyst-conference.com/investor-registration.
“IAIR Award 2014 for Leadership in Nanomedicines in the North American Sector”
Dr. Diwan will provide an update on the Company’s drug programs, and the cGMP clinical drug manufacturing facility.
The construction phase of the total renovation at the Shelton, CT, site is almost complete. Specific modifications for processing equipment are now in progress. Facility Validation work has started. The fully customizable manufacturing facility will enable cGMP manufacture of all of our nanoviricides® drug candidates in kilogram scale, sufficient for pre-IND and human clinical studies.
The Company recently reported that it was in the preliminary list of additions to certain Russell Indexes including Russell 2000, Russell 3000, and the Russell Small Cap.
The Company’s first drug candidate is injectable FluCide™ for all influenzas in hospitalized patients. The market size for an effective influenza drug for treating severely ill hospitalized patients has been estimated in the billions of dollars, worldwide, depending upon the therapeutic value and cost savings. Currently, there is no effective therapeutic available for this indication. The Company believes that it could supply a substantial portion of the demand for this drug from its new small scale cGMP clinical drug facility. This drug is currently in IND-enabling studies.
This drug candidate has demonstrated an unparalleled 1,000-fold reduction in lung viral load in a lethal animal model study. In the same study, the current standard of care, oseltamivir, (Tamiflu®, Roche) exhibited only a 2-fold reduction in lung viral load at the same time point. The Company intends to begin the safety/toxicology studies of this Injectable FluCide™ drug candidate as soon as feasible, and is producing sufficient drug substance for these studies at its existing facility.
This broad-spectrum FluCide drug is expected to work against most, if not all, forms of influenza virus, including epidemic, pandemic (e.g. H1N1/2009), high path influenzas such as H3N2, H7N9, and “bird flu” such as H5N1.
The total market size addressed by the Company’s current drug programs is estimated at about $50 billion. In addition to Injectable FluCide, the Company is working on five more commercially important drug candidates, namely: DengueCide™, HerpeCide™, HIVCide™, Oral FluCide™ for out-patients, and a broad-spectrum antiviral drug for viral diseases of the external eye. All of our programs are for therapeutics to treat viral infections. Our drugs are expected to be useful as prophylactics as well. DengueCide has recently received orphan drug designation by the US FDA as well as the European EMA.
NanoViricides recently received an important international award, the “IAIR Award 2014 for Leadership in Nanomedicines in the North American Sector”.
The Company currently has approximately $36 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 clinical trials.
The Wall Street Analyst Forum Conferences:
Our June 2014 investor conference is our 25th Annual Investor Conference. We have been a leading sponsor of institutional investor conferences in New York City, Boston and London since 1989. Over 2200 corporations, from General Electric, Pfizer, Mattel to Nokia, have presented and institutional investors from 2000 money management firms have attended. In 1998 we received extensive coverage in the financial press for conducting the first live webcast of individual corporate meetings from an investor conference.
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.