NanoViricides Secures $6M Funding to Advance Antiviral Drug Pipeline

NanoViricides, Inc. (NYSE American: NNVC), a clinical stage biotechnology company, has successfully closed a significant $6 million registered direct offering, selling 3,571,429 shares of common stock at $1.68 per share to a single healthcare institutional investor. The financing package included concurrent private placements of Series A and Series B warrants for an equal number of shares, with exercise prices set at $1.75 and $2.00 respectively. These warrants feature distinct timelines, with Series A becoming exercisable after six months and expiring in two years, while Series B warrants extend for 5.5 years. The company plans to allocate the net proceeds toward working capital and general corporate purposes, with A.G.P./Alliance Global Partners serving as the sole placement agent for this strategic financial transaction.

NanoViricides operates as a pioneering force in antiviral therapy, leveraging its innovative nanoviricide technology platform licensed from TheraCour Pharma, Inc. The company's groundbreaking approach involves creating special purpose nanomaterials designed to combat viral infections through a unique mechanism of action. Their lead drug candidate, NV-387, represents a broad-spectrum antiviral that the company intends to develop for multiple respiratory viral infections including RSV, COVID, Long COVID, and Influenza, as well as MPOX/Smallpox infections. Another advanced candidate, NV-HHV-1, targets Shingles treatment, positioning the company at the forefront of antiviral research and development across multiple therapeutic areas.

The company's extensive development pipeline spans numerous viral diseases, including oral and genital Herpes, viral eye diseases, various influenza strains, HIV, Hepatitis C, Rabies, Dengue fever, and Ebola virus. Through its perpetual licensing agreements with TheraCour, NanoViricides maintains exclusive worldwide rights for developing treatments targeting specific viral pathogens using their proprietary nanomedicine technology. The company is currently focused on advancing NV-387 into Phase II human clinical trials, representing a critical milestone in their development pathway. This financing round through the InvestorWire platform provides essential capital to accelerate these clinical programs while supporting the company's broader antiviral research initiatives across their diverse portfolio of potential treatments.