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Posted: September 10, 2007
NanoViricides, Inc Engages Pharmaceutical and Life Science Division of Grubb & Ellis/BRE Commercial
(Nanowerk News) NanoViricides, Inc. (OTC BB: NNVC.OB - News; the "Company"), announced today that it has signed a letter of agreement with the Pharmaceutical and Life Science Group (PLSG) at Grubb & Ellis|BRE Commercial (G&E|BRE). The PLSG at G&E|BRE will help NanoViricides develop manufacturing operations. Grubb & Ellis Company is one of the world's leading full-service commercial real estate organizations headquartered in Chicago, Illinois. Its Pharmaceutical & Life Science Group will employ a unique systems approach to the special needs of NanoViricides Inc.'s nanomedicine pharmaceutical facility requirements with seasoned professionals having hands on experience in developing full-scale cGMP manufacturing facilities (http://www.brecommercial.com/pages/divisions/lifesciences).
"We are committed to taking the fastest possible route to commercializing our technologies," said Dr. Eugene Seymour, MD, MPH, CEO of the Company, adding, "We will need a cGMP facility capable of manufacturing our unique and novel nanomedicines as we prepare for human clinical trials. We are engaging with one of the world's best talent pools at G&E PLSG in order to minimize development leadtime."
The G&E PLSG will either locate an existing facility for conversion or arrange to finance and build a new facility for NanoViricides, Inc. The space is expected to comprise approximately 100,000 sq-ft. of manufacturing, laboratory, and corporate offices.
"Our strong preclinical successes against influenza, H5N1 bird flu, and rabies, clearly indicate that we should prepare for manufacturing," said Anil R. Diwan, Ph.D., President of the Company, adding, "Our new laboratory facilities in Woodbridge will be capable of supplying the various nanoviricides for all of our collaborations while the larger scale manufacturing facility is being developed."
NanoViricides, Inc. (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.