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Monday, 8 July 2013
NanoViricides signs testing agreement with Public Health England
NanoViricides (OTCBB:NNVC) says it has signed a "confidential disclosure agreement" with Public Health England - the British government's equivalent of the U.S. Center for Disease Control - to develop a specific proposal for the testing of different NanoViricides against viruses of "mutual interest" to both organizations.
Specifically, the first two viruses will be H7N9, the flu virus that is now circulating in China, and the latest version of the coronavirus that is spreading in the Middle East and is now referred to as the MERS virus.
The latter virus is similar to SARS, which infected 8,000 people and killed about 800 some 10 years ago.
According to NanoViricides' statement, both the H7N9 and the MERS viruses have "extremely high case" fatality rates.
The testing of the antiviral drug candidates will be conducted in a facility at Public Health England, which are designed to allow the safe handling of organisms that can pose a significant threat to public health.
NanoViricides, which has six commercially important drug candidates in its pipeline that together address a market size of greater than $40 billion, is focused first on bringing its FluCide drug candidate to market. It currently has both an oral and injectable version of FluCide, which has the potential to wipe out virtually all strains of the pesky influenza A virus.
The company is now preparing for toxicology studies for its first FluCide candidate, expected to be wrapped up before the middle of next year.
Shares of the drug developer have risen over 61 per cent year-to-date, closing at 75 cents on Friday.