WEST HAVEN, CONNECTICUT -- Wednesday, June 25th, 2014 -- NanoViricides, Inc. (NYSE MKT: NNVC) 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.
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.
About 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.
FDA refers to US Food and Drug Administration. EMA refers to the European Union’s office of European Medical Agency.