This is huge news for NanoViricides. Those of us familiar with the Company should know just how huge this news is as it confirms the viability of the underlying science by a major pharmaceutical company. It is that confirmation which should ignite these shares toward a significant and unbelievable market capitalization.
NanoViricides, Inc. Signs Agreement with a Major Pharma
Monday March 2, 7:00 am ET
Material Transfer Agreement is First Step Towards Licensing Agreement
WEST HAVEN, Conn.--(BUSINESS WIRE)--NanoViricides, Inc. (OTC BB: NNVC.OB) (the "Company"), reported today that it has signed a Material Transfer Agreement with a major pharmaceutical company (“Party”). The Agreement initially entails evaluation of one of the Company’s nanoviricide drug candidates by an independent consultant chosen by the Party. This drug candidate has been designed to eradicate viral infections of the external eye, including those caused by adenovirus and herpes virus (“HSV”). It is the understanding of the Parties that, should the testing results be favorable, they will enter into good faith negotiations for a potential long-term, exclusive, worldwide licensing agreement for the development and commercialization of the drug.
“This agreement is the first step towards a potential licensing agreement,” said Eugene Seymour, MD, MPH, CEO of Nanoviricides, Inc, adding, “It clearly signals that our technology is now attracting serious attention from major Pharma companies.”
The terms of the Agreement do not allow the disclosure of the identity of the Party or the exact terms of the Agreement.
HSV and some adenoviruses cause most of the cases of keratitis, a serious infection of the cornea. Importantly, HSV infection can lead to corneal scarring that may necessitate corneal transplantation. In addition, some adenoviruses cause a majority of conjunctivitis cases (“pink eye”). The remaining cases of conjunctivitis, caused by bacteria, are treatable with topical antibiotics. Currently, there are no effective treatments for viral diseases of the exterior portion of the eye.
The Company has already demonstrated strong efficacy against an adenovirus-caused external eye disease called epidemic kerato-conjunctivitis (EKC). Rapid clinical improvement in the treated animals was reported by independent researchers who tested the effects of the nanoviricides drug candidate against adenoviral EKC. Based on computer modeling, the Company believes that the broad-spectrum nature of the ligand used in this nanoviricide should enable it to be effective against HSV.
The total market for viral conjunctivitis is estimated to be in the billions of dollars. The incidence of severe herpes keratitis is estimated to be 250,000 cases per year in the USA. In Japan, where EKC is a reportable disease, it is estimated that there are at least one million cases per year. The number of cases of non-specific conjunctivitis (pink eye) is considered to be far greater, possibly into tens of millions in the US, and into hundreds of millions worldwide.
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 H5N1 bird flu, seasonal Influenza, HIV, EKC, Hepatitis C, Rabies, Dengue fever, and Ebola virus, among others.