NanoViricides Announces Addition to Russell Microcap(R) Index
SHELTON, US – ACCESSWIRE – June 30, 2020 – NanoViricides, Inc. (NYSE American: NNVC) (the “Company”) a leader in the development of highly effective antiviral therapies based on a novel nanomedicines platform, today announced that it has been added to the Russell Microcap(R) Index effective after the U.S. markets opened yesterday, Monday, June 29, 2020.
Anil R. Diwan, PhD, President and Executive Chairman of the Company, commented, “We believe inclusion in the Russell Microcap index is a consequence of the significant progress we have made recently in advancing our novel portfolio of special purpose nanomaterials for antiviral therapy towards our first IND filing. As we approach several important milestones in the coming months, we welcome the heightened visibility that is expected to result from inclusion in this widely followed benchmark.”
Membership in the Russell Microcap(R) Index, which remains in place for one year, means automatic inclusion in the appropriate growth and value style indexes. FTSE Russell determines membership for its Russell indexes primarily by objective, market-capitalization rankings and style attributes.
Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately $9 trillion in assets are benchmarked against Russell’s US indexes. Russell indexes are part of FTSE Russell, a leading global index provider. Inclusion of NanoViricides in the Russell Microcap Index may be expected to increased participation in the NNVC stock positions of investment managers and institutional investors that purchase, follow or employ this index.
For more information on the Russell Microcap(R) Index and the Russell indexes reconstitution, go to the “Russell Reconstitution” section on the FTSE Russell website.
NanoViricides is pioneering a unique platform for developing anti-viral drugs based on the “bind-encapsulate-destroy” principles. Viruses would not be able to escape a properly designed nanoviricide(R) drug by mutations because in doing so, it is expected that, they would lose the ability to bind their cognate cellular receptor(s) and thus fail to infect productively, becoming incompetent.
NanoViricides possesses its own cGMP-capable manufacturing capability where thousands of doses of its drugs can be manufactured rapidly. More specifically, the Company has the capability to produce multiple kilograms of the active pharmaceutical ingredient (API) per batch.
The Company is developing a therapy or drug to combat the SARS-CoV-2 virus that has caused the COVID-19 pandemic. It is anticipated that this drug that is designed to directly attack the virus, would lead to successful treatment of infected patients. It is not a drug that is designed for reducing clinical symptoms alone. The drug we are developing is not a vaccine, and does not have to be given to everyone, but will need to be given only to patients, if we can develop it successfully.
The Company has reported successful results for its broad-spectrum anti-coronavirus drug candidates in cell culture studies against multiple coronaviruses as well as in animal studies against a coronavirus called hCoV-NL63 that binds to the same human receptor as SARS-CoV-2, namely ACE2, and causes similar pathology. The Company is advancing this program towards a pre-IND application to the US FDA with the aim of progressing it further towards human clinical trials as rapidly as possible.
The Company continues to advance its first drug candidate, namely NV-HHV-101 skin cream, for the treatment of shingles rash as its first indication, towards human clinical trials. The Company is now in the process of writing and completing its IND (“Investigational New Drug”) application for NV-HHV-101 to the US FDA, which includes protocols for human clinical studies, with the help of its several regulatory consultants. The Company is in the process of identifying and selecting appropriate partners and collaborators for the intended Phase1/2a human clinical studies for this drug candidate.
News Source: MediaOutreach