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Seasonal Influenza and Feared Epidemics Markets Are Large
NanoViricides, Inc. (OTC BB: NNVC) (the "Company"), said it is moving rapidly to fill the void in therapeutics against both seasonal influenzas and high path influenzas (H5N1, H7Nx).
Influenza experts claimed that the death toll from seasonal flu is almost as high as if there were an epidemic in Ireland, reported the Irish Examiner
( http://www.irishexaminer.com/irishexaminer/pages/story.aspx-qqqg= ireland-qqqm=ireland-qqqa=ireland-qqqid=41558-qqqx=1.asp ).
"FluCide ™-I" is currently the best drug in development against seasonal influenza. Its novel class of action, and the extremely high efficacy levels seen (>800% that of oseltamivir in animal models) have put it at the lead position in the industry," said Anil R. Diwan, Ph.D., President, NanoViricides, Inc., adding, "Further studies are in progress towards the goal of filing an IND (Investigational New Drug) application with the FDA. We are strategizing to enable the shortest possible timeframes in this long process." Oseltamivir is the active ingredient in Tamiflu® (Roche).
Bird flu (H5N1) has now been confirmed by scientists to pass from humans to humans, taking it a step further along to becoming a major epidemic threat, reported Sydney Morning Herald
( http://www.smh.com.au/news/world/persontoperson-bird-flu-confirmed /2007/08/30/1188067276777.html ).
"AviFluCide™-I against H5N1, and FluCide-HP™ against all highly pathogenic influenza group, have shown extremely high efficacies against highly infectious influenza H5N1 viruses of both Clade 1 and Clade 2 types, beating neuraminidase inhibitors by a wide margin," said Dr. Diwan, adding, "We are ready to start H5N1 animal studies and are awaiting the availability of the most current H5N1 strains."
"Our High Path, H5N1, and Seasonal Influenza drug developments are going strong and we are working towards the goal of filing appropriate INDs with the FDA with rapidity, given the regulations," said Dr. Seymour, adding further, "The commercial market for influenza drugs is extremely large, possibly several billion dollars per year, and expanding. We believe we will be the leaders in this field upon drug approval."
"It will become possible for the US Government to acquire our influenza drugs after we file an IND, even prior to approval, according to the current laws and regulations," said Dr. Diwan.
Ireland had almost 3,500 seasonal-flu and related deaths last year. The US Centers for Disease Control and Prevention (CDC) estimates that between 30 million and 60 million American become ill with human influenza, with an estimated 35,000 deaths, on a yearly basis.
Dr. David Heymann, World Health Organization (WHO) assistant director for communicable diseases, said that WHO is aware of at least three cases where human-to-human transmission of the avian influenza virus was suspected. Dr. Ira Longini's team at the Fred Hutchinson Cancer Research Centre in Seattle, Washington, has for the first time proven that the (H5N1) virus spread between a "cluster" of people. "The world really may have dodged a bullet with that one, and the next time we might not be so lucky," said Dr. Longini.
About NanoViricides, Inc.
NanoViricides, Inc. ( http://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, hepatitis C, rabies, dengue fever, 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. Such forward looking statements are subject to known and unknown risks, uncertainties and other factors including the availability of adequate financing, the success of the Company's research and development strategy, the successful and timely completion of clinical studies and the uncertainties related to the regulatory process, described in the “Management’s Discussion and Analysis” section of the Company’s Form 10-KSB and other reports and filings with the Securities and Exchange Commission. Such risks, uncertainties and other factors may cause actual results, performance, or achievements of the Company to be different from those expressed or implied by the Company.
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