WEST HAVEN, Conn.--(BUSINESS WIRE)--NanoViricides, Inc. (NYSE MKT:NNVC) (the “Company”), a nanomedicine company developing anti-viral drugs, reported that its CEO, Eugene Seymour, MD, MPH will be a guest on “The Independents”, a show on the Fox Business Channel this evening, airing at 9PM EDT.
He will discuss the current Ebola outbreak and the Company’s progress in developing an anti-Ebola drug for the treatment of patients infected with the Ebola virus.
He will also discuss some of the difficulties that could be encountered in attempts to bring the Ebola epidemic under control. Dr. Seymour has extensive field experience in the area of infectious diseases. He has previously worked on HIV/AIDS in Africa, Eastern Europe and Asia.
Currently, there are no approved drugs or vaccines against Ebola, although some vaccines as well as some drug candidates have entered clinical trials. The limitations of vaccines, antibodies, siRNA and oligonucleotide therapies are well known. A rapidly evolving virus such as the current Ebola virus can readily mutate such that these types of strain specific or narrow spectrum drugs may be rendered ineffective. In light of the paucity of available countermeasures, recently, the WHO has announced a policy for use of experimental drugs against Ebola to expedite drug availability.
NanoViricides, Inc. now has the capability of producing sufficient quantities of an anti-Ebola drug, after it is developed, for combating current and future Ebola epidemics. The highly customizable nanomedicine cGMP capable pilot scale manufacturing facility in Shelton, CT, will be able to supply all of the nanoviricides drug candidates in quantities needed for human clinical trials.
The Company has now developed novel drug candidates against Ebola that it believes could lead to a successful therapeutic. A nanoviricide® drug is made up of two components that are chemically connected together: a virus-binding ligand that mimics the native receptor on the host cell to which the virus binds, and a backbone polymer that makes the nanoviricide “look like” the host cell surface to the virus. There have been significant developments in the elucidation of the important cell surface receptors and attachment factors of Ebola virus recently. With this new structure based information, the Company has been able to redesign its anti-Ebola ligands using the scientific in silico drug design methodology.
The Honorable US President, Barak Obama has declared today that the World needs America to help defeat this epidemic Ebola virus, in a speech delivered at the CDC. “Faced with this outbreak, the world is looking to us, the United States, and it’s a responsibility that we embrace,” said the President. The U.S. has committed $500Million in defense spending on this “war on Ebola”, named Operation United Assistance, reported Time magazine online (http://time.com/3387646/obama-on-ebola-the-world-is-looking-to-us/).
The current outbreak in Africa has unequivocally demonstrated the need for an effective, broad-spectrum, anti-Ebola therapeutic from which the mutating virus would not escape.
As of 10 September 2014, the World Health Organization (WHO) and the United States Centers for Disease Control and Prevention (CDC) reported a total of 4,846 suspected cases and 2,375 deaths, according to Wikipedia (http://en.wikipedia.org/wiki/Ebola_virus_epidemic_in_West_Africa). WHO has reported an overall measure of case fatality rate estimate of 52%, considerably lower than that reported from previous outbreaks. However, the actual case fatality rate based on following infected patients in a limited region was found to be about 77%. Unfortunately, this Ebola outbreak has continued to expand at an exponential rate in spite of significant efforts to contain it.
The Company is in negotiations with several parties regarding testing the new nanoviricide drug candidates against Ebola in the required high safety environments, i.e. BSL-4 facilities.
Because of the magnitude of the current outbreak, the Company restarted its EbolaCide development program. It had previously developed anti-Ebola drug candidates that demonstrated the validity and potential of the Company’s approach, based on cell culture and animal testing conducted at US Army Medical Research Institute of Infectious Diseases (USAMRIID) in a BSL-4 facility. The Company had to de-prioritize this development in order to focus on the development of its lead drug candidate, Injectable FluCide™, for treatment of hospitalized patients with influenza. The Company has recently reported that it has restarted its anti-Ebola/Marburg drug program, in consideration of the severe public health impact of an Ebola virus epidemic.
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 that 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.