NanoViricides Inc. (NASDAQ: NNVC) stock gains by 15.23% in the current market trading session. NanoViricides is a firm in the early stages of development that develops antiviral nanoparticles. The Company’s innovative nanoviricide medication candidates are intended to attack and deconstruct encapsulated virus particles.
NNVC stock’ Current Update
NanoViricides has finished the process of licensing the human Coronavirus field from TheraCour Pharma for medication research and commercialization. On September 8, 2021, NNVC and TheraCour Pharma signed a licensing deal for the field of antiviral medicines for coronavirus-derived human illnesses.
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Antiviral medications to treat SARS-CoV-2 and its variants, which cause the COVID-19 disease and have resulted in a global pandemic that continues to rampage around the world, wave after wave, as new variants emerge and take root. The license did not need any upfront financial payment, and the remuneration terms were similar to those of previous licenses.
The company thinks that these broad-spectrum anti-coronavirus drugs will remain viable even as the virus persists to mutate and evolve into a variety of dangerous variants. The firm also believes that its own anti-viral nanomachine technology will solve these problems. NanoViricides is actively working on human clinical trials for its two COVID-19 lead drug candidates, NV-CoV-2- and NV-CoV-2-R. The Management says that the necessary preclinical work for putting these drugs into human trials is nearly complete.
NanoViricides has received a global, exclusive, sub-licensable license to use, advertise, offer for sale, import, export, sell, and distribute antiviral medications that cure human Coronavirus infection within the terms of the deal. It makes use of TheraCour’s proprietary and patented technology and intellectual property, including the recently filed patent application. TheraCour will conduct the development of ligands and polymer materials, as well as formulations, chemistry, and chemical characterization, under the same remuneration terms as previous agreements between the parties, with no cost duplication permitted.