SHELTON, Conn., July 23, 2018 /PRNewswire/ -- NanoViricides,
Inc. (NYSE Amer: NNVC) (the "Company"), is pleased to announce that
the Company's Board has appointed Dr. Irach Taraporewala as the new
Chief Executive Officer (CEO).
Dr. Irach B. Taraporewala is a seasoned pharmaceutical executive
with over 25 years of experience in drug development and regulatory
strategy. He is a hands-on CEO with strong scientific background
combined with significant management, leadership, business
development, and financing experience.
"Irach has precisely the skill set that we were looking for. He
is an experienced Pharmaceutical Industry Executive, accomplished
in the development of novel drugs. Importantly, he has experience
in working with the FDA in designing clinical trials, and he has
taken a novel drug candidate through successful Phase II human
clinical trials," said Dr. Mukund
Kulkarni, Chairman of the Compensation Committee, and a
Director of the Company.
"We welcome Irach and believe that his joining the Company is a
milestone achievement in fortifying our Management Team by bringing
in strong Pharmaceutical Industry and Regulatory expertise," said
Dr. Anil R. Diwan, President and Chairman of the Company, adding,
"Irach has strong expertise in CMC and QA/QC areas that will be
extremely valuable for us to progress into an IND with our lead
drug candidate in the HerpeCide™ program. He also has fund-raising
experience in an early stage pharmaceutical company."
"We believe that our substantive search and due diligence
processes have led to the selection of the ideal candidate," agreed
Mr. Stan Glick, Chairman of the
Search Committee and a Director of the Company.
Dr. Taraporewala was previously the founding CEO and President
of Ohr Pharmaceutical, Inc. ("Ohr"), from April 2010 until December 2015. During his
5 years of leadership at Ohr, he played a critical role in taking
the company from preclinical stage through successful Phase II
clinical trials. Dr. Taraporewala ensured that the
Company was well capitalized, oversaw the up-listing of the
Company's common stock to the NASDAQ exchange, and completed
several successful rounds of financing.
Prior to Ohr, Dr. Taraporewala was Vice President of Regulatory
Affairs and Clinical Research at Mystic Pharmaceuticals Inc.,
Austin, TX, from April 2008 to March
2010. At Mystic, he led the regulatory strategy for the
Company's ophthalmic and intranasal drug products, as well as drug
delivery systems. Earlier, Dr. Taraporewala served at a well-known
pharmaceutical consulting and clinical research organization,
PAREXEL International Corp., as Senior Consultant in the Drug
Development Consulting Division. In this position, he provided
technical expertise and regulatory advice to small and large
biotechnology and pharmaceutical company clients worldwide.
Dr. Taraporewala holds a Ph.D. degree in Medicinal Chemistry
from the Philadelphia College of
Pharmacy, University of the Sciences in
Philadelphia (1984). He holds a Master of Science
degree in Organic Chemistry, and a Bachelor of Science degree in
Chemistry and Microbiology, both from the University of Bombay, India.
He will join NanoViricides, Inc. as of September 1st, 2018, although he has already
begun to work with the Company in a limited capacity.
About NanoViricides:
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 H1N1 swine flu, H5N1 bird flu, seasonal
Influenza, HIV, oral and genital Herpes, viral diseases of the eye
including EKC and herpes keratitis, Hepatitis C, Rabies, Dengue
fever, and Ebola virus, 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. You should not
place undue reliance on forward-looking statements since they
involve known and unknown risks, uncertainties and other factors
which are, in some cases, beyond the Company's control and which
could, and likely will, materially affect actual results, levels of
activity, performance or achievements. The Company assumes no
obligation to publicly update or revise these forward-looking
statements for any reason, or to update the reasons actual results
could differ materially from those anticipated in these
forward-looking statements, even if new information becomes
available in the future. 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 pre-clinical 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.
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SOURCE NanoViricides, Inc.