NanoViricides Collaborates with Vietnam Government to Develop Drug To Treat Bird Flu Virus
Monday January 9, 8:00 am ET
Company to receive H5N1 (Avian Flu) biologics from Vietnam
WEST HAVEN, Conn.--(BUSINESS WIRE)--Jan. 9, 2006--NanoViricides, Inc. (Pink Sheets: NNVC - News) announced today the results of the company's recent trip to Vietnam.
Company officials met with senior officials in the Ministry of Health which resulted in the signing of Memoranda of Understanding (MOU) with governmental agencies responsible for the prevention and treatment of the H5N1 virus. The MOU calls for the government to supply biological materials to Nanoviricides, Inc., which are needed to rapidly develop a drug treatment for avian flu (AviFluCide-I(TM)). The Company believes that other than the US Centers for Disease Control and an international organization based in Europe, no other government or company has been granted access to certain of these biologics.
"Our approach is virus-specific therapy. Having unique access to the H5N1 virus enables us to develop drugs that act directly against this particular virus, whereas other companies are developing drugs against common influenza virus and hoping that some of them may also work against H5N1," said Dr. Anil Diwan, President of Nanoviricides.
Terms of the MOU also call for the collaborative development of a treatment for rabies, a generally fatal disease. The MOU allows these governmental agencies to have an exclusive license to use these drugs for the Vietnamese market.
Eugene Seymour, MD, MPH, CEO of Nanoviricides, Inc., says, "The MOU with Vietnam is a landmark agreement. It will enable Nanoviricides, Inc. to pursue its goal of having AviFluCide-I(TM) tested in overseas facilities, because the company now has access to the current H5N1 strain of the virus. Our operational plan calls for testing to be completed in the next twelve weeks." Dr. Seymour added, "Our system is also perfectly suited to deal with certain potential bioweapon viruses such as Ebola and Marburg. To our knowledge, we have a major head start in the area of targeted anti-viral therapies.
Other Company news:
The Company has issued a "stop transfer" on approximately 3.8 million shares and options held by a former officer and the individuals involved with the "shell company" Edotcom.com, prior to its merger with NanoViricides. The Company will be seeking official and judicial relief as well as seek monetary damages for the harm caused to the Company. The Company will update its shareholders in a separate press release on this matter to be released within the coming days. These actions will help the Company complete its audit and become a reporting company. It is management's goal to meet the requirements necessary to be listed on a major exchange.
ABOUT NANOVIRICIDES, INC.
NanoViricides, Inc. is a development stage company that is creating special purpose nanomaterials for anti-viral therapy. A nanoviricide(TM) is a specially designed, flexible, nanomaterial with or without an encapsulated active pharmaceutical ingredient and a targeting ligand to a specific type of virus, like a guided missile.
Contact:
NanoViricides, Inc.
Leo Ehrlich, 917-853-6440
leo@nanoviricides.com
Source: NanoViricides, Inc. |
