NanoViricides, Inc. Signs CRADA for Material Transfer with USAMRIID for Evaluating Its Anti-Ebola Drug Candidates

WEST HAVEN, CONNECTICUT -- Monday, October 27, 2014 -- NanoViricides, Inc. (NYSE MKT: NNVC) (the "Company") a nanomedicine company developing anti-viral drugs, announced today that it has executed a CRADA (Collaborative Research and Development Agreement for Material Transfer) with the United States Army Medical Research Institute of Infectious Diseases (USAMRIID). Certain novel anti-Ebola nanomedicine drug candidates recently developed by the Company will be evaluated by USAMRIID scientists in their BSL-4 facilities for activity against the deadly Ebola virus under this agreement.

"We are very happy to restart our collaboration with USAMRIID for developing an effective drug against the deadly Ebola virus," said Dr. Eugene Seymour, MD, MPH, CEO of NanoViricides, Inc., adding, "We intend to ship the samples as soon as the synthesis of the new drug candidates is completed."

The current Ebola epidemic that began in West Africa around December 2013-February 2014, has started producing sporadic cases elsewhere in the world. All of these cases have originated with people that have been to the epidemic-affected regions. However, local transmission has occurred in health care workers in the USA as well as in Spain. This epidemic continues to expand both geographically and numerically, exponentially, and containment efforts have had a very limited impact to date. More than 4,500 deaths have been reported, with a case fatality rate estimated at about 70%. As important as control measures are to limit the disease spread, a therapeutic drug is absolutely needed to effectively contain such a rapidly spreading epidemic.

There are currently no effective drugs or vaccines available for combating Ebola virus infection. The few cases of successful treatment with potential drug candidates had also received serum from survivors.

NanoViricides undertook the extreme challenge of developing a drug to combat this disease in a "war-like" timeline. We believe that we can develop an effective drug rapidly compared to other approaches, because of the inherent strength of our nanoviricides® platform technology.

The Company has recently developed and is now synthesizing test quantities of its novel nanoviricide drug candidates against Ebola that it believes could lead to a successful therapeutic. These drug candidates are designed to mimic the host cell receptor onto which the Ebola virus binds to cause an infection. The site at which the virus binds does not change, in spite of mutations. Thus the Company believes that its drug candidates would continue to work in spite of field mutations in the virus. This is unlike vaccines, antibodies, siRNA, antisense, and several other therapeutic modes, which a virus can readily overcome due to mutations it acquires in the field.

"We are using scalable processes so that we can rapidly transfer synthesis to kg-scale production, which we believe will be sufficient to contain the spread of the current Ebola epidemic," said Anil R. Diwan, PhD, President and Chairman of the Company, adding, "We believe that the collaboration with USAMRIID will enable timely testing of our candidates in an effort to rapidly zero in on a final drug candidate against Ebola."

The current outbreak in Africa has unequivocally demonstrated the need for an effective, broad-spectrum, anti-Ebola therapeutic. The Company has previously reported that it has restarted its anti-Ebola/Marburg drug program, in consideration of the severe public health impact of an Ebola virus epidemic.

The Company 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 (USAMRIID) in a BSL-4 facility. The Company had to de-prioritize further development of anti-Ebola drug candidates in order to focus on the development of its lead drug candidate, Injectable FluCide™, being developed for the treatment of hospitalized patients with influenza.

USAMRIID, located at Fort Detrick, Maryland, is the lead medical research laboratory for the U.S. Biological Defense Research Program, and plays a key role in national defense and in infectious disease research. The Institute's mission is to conduct basic and applied research on biological threats resulting in medical solutions (such as vaccines, drugs and diagnostics) to protect the warfighter. USAMRIID is a subordinate laboratory of the U.S. Army Medical Research and Materiel Command.

The Institute is working to develop therapeutics for a number of agents, such as Ebola virus, plague, several toxins, and orthopoxviruses.

The information contained in this press release does not necessarily reflect the position or the policy of the Government and no official endorsement should be inferred.

About NanoViricides
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. 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 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. EMA refers to the European Union’s office of European Medical Agency.

NanoViricides, Inc.
Amanda Schuon, 310-550-7200