SHELTON, CONNECTICUT — Wednesday, February 12, 2020 — NanoViricides, Inc. (NYSE Amer.: NNVC) (the “Company”), a leader in developing novel nanomedicines to treat viral diseases, reports that Dr. Makarand “Mak” Jawadekar, a veteran Pharma industry expert professional, has been duly appointed as an Independent Director to its Board of Directors. He is also appointed as a member of the Board’s Audit Committee, Nomination Committee, and Compensation Committee.
Dr. Mak Jawadekar has been serving as a strategic advisor to pharmaceutical and biotechnology companies through his independent consultancy since 2010. He has over 35 years of experience in the Pharma Industry spanning both Business and Research activities. He has extensive experience in joint ventures, alliance management, contracting, outsourcing, benchmarking, performance metrics, pharmaceutical research and development, drug delivery technologies, formulations, clinical supply manufacturing and packaging, clinical trial materials, pharmaceutics, and pharmaceutical sciences. He also has deep knowledge and global experience working across the United States, Europe, India, and other parts of Asia, including Japan and China. He has helped create several Pharma R&D Partnerships, Joint Ventures, and Collaborations during his career.
“We are very pleased to announce that Dr. Jawadekar has joined our Board. His breadth and depth of experience in developing collaborations and alliances would be highly valuable to the Company, as we advance our drug candidates further into the regulatory pathway,” said Anil R. Diwan, PhD., Executive Chairman of the Board and President of the Company.
Prior to his consultancy practice, Dr. Jawadekar was at Pfizer, Inc., as Director, Portfolio Management & Analytics, and as Vice President, Asia Colleague Resource Group, in the Pfizer Global R&D division. Mak held roles of increasing responsibility from 1982 to 2010 while at Pfizer, in technical, management, and business development positions. In these roles, he has worked in the areas of Drug Delivery Technology Assessment, Strategic External Alliance Management, Strategic CMC, Pharma R&D, Clinical Manufacturing, Manufacturing Technology Transfer and Scale-up, beginning as a research scientist in formulations development.
Dr. Jawadekar has presented at many professional meetings and has participated in various Panel Discussions/Round Tables around the globe. US President George W. Bush invited Dr. Jawadekar to accompany him on a trip to India in 2006. Recently, he accompanied Honorable Congressman Todd Rokita (R) Indiana, on a business mission to India in 2019. He has accompanied Presidents of Pfizer R & D to India in 2007 and also in 2009. During February 2018, he worked with Mr. Tonino Lamborghini, Chairman, Tonino Lamborghini S.p.A. of Italy to establish strategic collaborations in India, working through India’s Prime Minister Narendra Modi.
Dr. Jawadekar serves on the boards of two other public companies, namely: Preveceutical Medical Inc. (CSE: PREV), and Cardax, Inc. (OTC: CDXI), as an independent board member. He also serves on the Strategic and Scientific Advisory Boards of a number of companies, including Actinium Pharma (NYSE-Amer.: ATNM), Saama Technologies, Inc., Diant Pharma, Inc., and Tonino Lamborghini SpA, Italy. He also serves as a member of the Board of Directors at Abilities Inc., a NY based, non-profit organization.
Mak holds a Ph.D. in Pharmaceutics from the University of Minnesota, and was honored with an honorary D.Sc. degree by DYP Mumbai University, recommended by the President of India, in February, 2011.
The Company believes Dr. Jawadekar’s long history as a pharmaceutical and biotech professional, particularly in alliance development and management, in business strategy, and in pharmaceutical sciences, and CMC in drug delivery, render him well qualified to serve as an independent member of the Board of Directors.
In another news, the Company advises that Mr. James Sapirstein is leaving the Board of Directors of the Company. He tendered his resignation due to increased workload in his role as the CEO of AzurRx BioPharma, Inc. (NASDAQ: AZRX). Mr. Sapirstein joined AzurRx as CEO and President in October 2019, and had advised the Company of his intention to retire from our Board of Directors. The Company and Mr. Sapirstein have no differences of opinion and Mr. Sapirstein has continued to advise the Company on various strategic aspects as the Company is progressing toward filing its first IND application, and in its financing efforts.
“We sincerely appreciate Mr. Sapirstein’s various contributions to the Company as an independent Director, and we wish him continued success in his career,” said Mr. Stan Glick, Lead Independent Director, on behalf of the Board and the Executive Management of the Company.About NanoViricides
NanoViricides, Inc. (www.nanoviricides.com) is a development stage company that is creating special purpose nanomaterials for antiviral therapy. The Company’s novel nanoviricide® class of drug candidates are designed to specifically attack enveloped virus particles and to dismantle them. Our lead drug candidate is NV-HHV-101 with its first indication as dermal topical cream for the treatment of shingles rash. The Company is also developing drugs against a number of viral diseases including oral and genital Herpes, viral diseases of the eye including EKC and herpes keratitis, H1N1 swine flu, H5N1 bird flu, seasonal Influenza, HIV, Hepatitis C, Rabies, Dengue fever, and Ebola virus, among others. The Company has previously worked on developing drug candidates against the MERS coronavirus. The Company’s technology is based on broad, exclusive, sub-licensable, field licenses to drugs developed in these areas from TheraCour Pharma, Inc.
This press release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact in this press release are forward-looking statements, including, but not limited to, the company’s proposed follow-on offering. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations and projections about future events and financial trends that the company believes may affect its financial condition, results of operations, business strategy and financial needs, including the expectation that the offering will be successfully completed. Investors can identify these forward-looking statements by words or phrases such as “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to” or other similar expressions. The company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the company cautions investors that actual results may differ materially from the anticipated results. Important factors that could cause actual results to differ materially from the company’s expectations include, but are not limited to, those factors that are disclosed under the heading “Risk Factors” and elsewhere in documents filed by the company from time to time with the United States Securities and Exchange Commission and other regulatory authorities. Although it is not possible to predict or identify all such factors, they may include the following: demonstration and proof of principle in preclinical trials that a nanoviricide is safe and effective; successful development of our product candidates; our ability to seek and obtain regulatory approvals, including with respect to the indications we are seeking; the successful commercialization of our product candidates; and market acceptance of our products. FDA refers to US Food and Drug Administration. IND application refers to Investigational New Drug application.
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