(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
"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
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
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.