SHELTON, Conn., Dec. 1, 2016
SHELTON, Conn., Dec. 1, 2016 /PRNewswire/ -- NanoViricides, Inc. (NYSE MKT: NNVC), a global leader in the development of highly effective antiviral therapies based on a novel nanomedicines platform (the "Company"), announced today that it has published a letter from the Company's CEO addressing its shareholders on its website (www.nanoviricides.com).
In this letter, Dr. Eugene Seymour, CEO of the Company, surveys the Company's accomplishments in the past fiscal year that ended June 2016, and more recent events. The letter describes the progress that the Company has made towards entering human clinical trials. The Company believes that a nanoviricide® skin cream against shingles will be its first drug to go into human clinical studies. The Company expects that additional HerpeCiode™ program topical drug candidates will follow the shingles drug candidate into the clinic.
In addition, the letter lays out the steps that the Company will be accomplishing in the near future as it advances the shingles drug into human trials. Over one million cases of shingles are seen in the US annually with 70% of these cases being found in elderly and immunocompromised individuals.
The Company has four different drugs in development in the HerpeCide program. All of these high priority drugs are topical treatments, which is expected to enable a relatively rapid regulatory process as compared to systemic drugs.
Further, the Company has four more systemically delivered drugs in different preclinical development stages that are expected to mature towards the clinic. The Company continues to work on these drug candidates at lower priorities, due to resource limitations.
The Company believes its future is very bright, with four topical drug candidates and additional four systemic drug candidates in development. These drugs taken together address over $40Bn in market size in herpesviral diseases (cold sores, genital ulcers, herpes keratitis, shingles, and others), influenzas (broad spectrum injectable drug for hospitalized patients with severe viral influenzas, oral nanomedicine drug for out-patients with influenza), HIV, and dengue viruses.
The Company believes it now has the infrastructure to develop antiviral drugs from discovery all the way to clinical product manufacture in its new campus in Shelton, CT. This has strengthened the Company's position as it would allow the Company to become a stand-alone antiviral pharmaceuticals company. The Company believes it will pursue out-licensing or co-development strategies with other partners where possible.
The letter is available at http://www.nanoviricides.com/2016-ceo-letter.pdf.
NanoViricides, Inc. (www.nanoviricides.com) 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. The Company is developing drugs against a number of viral diseases including VZV, 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.
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.
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SOURCE NanoViricides, Inc.