The Company's Lead Drug Candidate for Shingles is Heading Toward Human Clinical Trials Offering Great Potential
SHELTON, CT / ACCESSWIRE / October 25, 2019 / NanoViricides, Inc. (NYSE American:NNVC) (the "Company"), is a development stage nano-biopharmaceutical Company focused on countering viral infections, which has developed a unique, proprietary nanomedicine technology.
A nanoviricide®, as described by the Company, is a nanomachine built to destroy a specific kind of virus; they are developed and designed to "fool" a virus into attaching to this antiviral nanomachine, in the same manner that a virus normally attaches to the receptors on a cell surface, however, nanoviricides were developed for the purpose of virus neutralization and destruction. The Company is developing nanoviricide drug candidates against several commercially important viral diseases: seasonal and potentially-epidemic influenzas, bird flu, HIV/AIDS, cold sores and genital herpes infection, viral eye diseases, as well as dengue viruses.
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NanoViricides has its own, fully owned cGMP manufacturing facility, capable of producing complex nanomedicine drugs, enabling management to optimize production time and minimize related costs. The Company has the capacity to manufacture the drug candidates needed for human clinical trials at this state of the art facility.
The entire management team has concentrated on three key HerpeCide™ drug development programs: dermal topical treatments for Herpes Simplex Virus Type 1 (HSV-1), Herpes Simplex Virus Type 2 (HSV-2) and Varicella Zoster Virus (VZV) which causes chickenpox and shingles. Two additional drug development programs are also being investigated: eye drops for treatment of Herpes Keratitis (an infection of the external eye), and intra-vitreal injection for the treatment of viral Acute Retinal Necrosis (vARN). Currently, the most advanced drug candidate is the topical treatment for shingles, a major medical unmet need and the Company intends to rapidly advance the investigational treatment into human clinical trials.
In addition, the Company has drug candidates in development against severe influenzas (including bird flu), HIV, Dengue, Ebola/Marburg and other viruses at different preclinical stages. According to a 2014 market report prepared by Jain PharmaBiotech, "Antiviral Therapeutics, Technologies, Markets & Companies," the overall size of the anti-viral market is estimated to be $40 billion in 2018 and may reach $65.5 billion by 2023. NanoViricides' broad pipeline which, is enabled by the proprietary and unique post-immunotherapeutic "bind-encapsulate-destroy" technology platform, well-positions the Company to be an overall therapeutic leader across the anti-viral ecosystem. The Discovery Team at NanoViricide intends to build out the pipeline through internal discovery pre-clinical development programs and an in-licensing strategy.
President and Executive Chairman of NanoViricides, Anil Diwan, PhD., stated, "Our team believes that the dermal topical cream for the treatment of shingles rash will be the first drug heading into clinical trials which again caters to a market over a billion dollars. There is at least two more years until commercialization and for revenues to flow into the Company, but we could potentially license the program out to Big Pharma after Phase I/II. However, it is clear, that with such a large addressable market size and hardly any competition, the success of the human trials would result in a positive ongoing stream of revenue."
For more details on the Company, please visit http://www.nanoviricides.com/
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NanoViricides, Inc. is a development stage company that is creating special purpose nanomaterials for antiviral therapy. The Company's novel nanoviricide® class of drug candidates are designed to specifically attack enveloped virus particles and to dismantle them. Our lead drug candidate is NV-HHV-101 with its first indication as dermal topical cream for the treatment of shingles rash. The Company is also developing drugs against a number of viral diseases including Oral and Genital Herpes, viral diseases of the eye including EKC and Herpes Keratitis, H1N1 swine flu, H5N1 bird flu, seasonal Influenza, HIV, Hepatitis C, Rabies, Dengue fever, and Ebola virus, among others. The Company's technology is based on broad, exclusive, sub-licensable, field licenses to drugs developed in these areas from TheraCour Pharma, Inc. The Company expects to enter into an agreement for licensing the VZV field from TheraCour soon. 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 preclinical 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.
FDA refers to US Food and Drug Administration.
SOURCE: NanoViricides, Inc.