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NanoViricides, Inc. (NNVC.PK) Raises $6 Million From Equity Investors - Reports Having Sufficient Funds for the Initial Human Clinical Trials of its Broad-Spectrum Anti-Influenza Drug


2/4/2013 10:21:33 AM

WEST HAVEN, Conn.--(BUSINESS WIRE)--NanoViricides, Inc. (OTC BB: NNVC) (the "Company"), announced today that it has raised $6M from four equity investors. The investors included three prior investors (family offices) and a charitable foundation. The raise, involving convertible debentures, was completed on February 1, 2013. The Company reports having approximately $19M of cash in hand with this raise. The Company estimates that its current funding is sufficient for the first human clinical trials for its broad-spectrum anti-influenza drug candidate, FluCideā„¢. FluCide drug candidates have already shown strong effectiveness against H1N1 and H3N2 influenza viruses in highly lethal animal models, exemplified by 100X to 1,000X greater viral load reduction than oseltamivir (TamifluĀ®), the current standard of care.

Read at BioSpace.com

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