NanoViricides, Inc. [AMEX: NNVC] disclosed has announced its remarkable achievement as the firm disclosed that it has finalized the process of licensing the human Coronavirus field for drug development and promotion from TheraCour Pharma, Inc. NanoViricides is developing oral and pediatric drugs to combat COVID-19 intended to be active against most variants.
It has been revealed that NanoViricides has completed a license agreement for the field consist of anti-viral cures for coronavirus-derived human infections with TheraCour Pharma, Inc. on September 8, 2021. The licensed field consists of antiviral drugs to cure SARS-CoV-2 and its variants that spread the COVID-19 disease.
Shares of NanoViricides, Inc. [AMEX: NNVC] skyrocketed 27.52% during the pre-market trading session of Tuesday. The strong performance of the firm has come after it has finalized the licensing for the coronavirus field. Presently, NNVC is planning to commence the human trial of its two COVID-19 lead drug candidates, such as NV-CoV-2- and NV-CoV-2-R. The firm believes that the necessary preclinical work is significantly completed for taking these drugs into the human assessment.
Furthermore, the firm believes that these broad-spectrum anti-coronavirus drugs will continue to be successful even as the virus continues to mutate developing into a number of variants of concern. As per the agreement, there was no upfront cash consideration for the license and the payment terms were broadly in line with earlier licenses.
Additionally, the main problem the world is facing nowadays is the evolution of the new variants for which treatment is rare. But NNVC thinks that its unique anti-viral nanomachine technology tackles these issues. The firm discovered that its anti-COVID-19 drugs demonstrated strong antiviral efficacy when given orally in animal studies.
Presently, NNVC is of the view that its COVID-19 drugs will be appropriate for use in pediatric patients. So, it has decided to involve pediatric cohorts in clinical studies at suitable stages. The firm considers that pediatric use of these drugs is appropriate based on the excellent safety profile it has witnessed in animal studies.