NanoViricides Secures $6 Million Funding to Advance Antiviral Drug Pipeline

NanoViricides, Inc. has successfully closed a $6 million registered direct offering, positioning the clinical-stage biopharmaceutical company to advance its pipeline of novel antiviral therapeutics. The company sold 3,571,429 shares of common stock at $1.68 per share to a single healthcare institutional investor, accompanied by concurrent private placements of Series A and Series B warrants with exercise prices of $1.75 and $2.00 per share respectively.

The financing represents a significant milestone for NanoViricides as it seeks to accelerate development of its nanoviricide platform technology. According to the company announcement available at https://ibn.fm/PidPM, net proceeds will be used for working capital and general corporate purposes, with A.G.P./Alliance Global Partners serving as sole placement agent for the transaction.

This capital infusion comes at a critical juncture for the company, which is currently focused on advancing its lead drug candidate NV-387 into Phase II human clinical trials. NV-387 represents a broad-spectrum antiviral drug candidate planned for development as a treatment for RSV, COVID, Long COVID, Influenza, and other respiratory viral infections, as well as MPOX/Smallpox infections. The company's other advanced candidate, NV-HHV-1, targets shingles treatment.

The importance of this funding extends beyond immediate corporate needs to address broader public health challenges. With respiratory infections remaining a persistent global health concern and the continued threat of emerging viral pathogens, NanoViricides' platform technology offers potential for developing novel treatments against multiple viral threats. The company's approach utilizes special purpose nanomaterials designed specifically for antiviral therapy, representing a distinct technological approach in the antiviral drug development landscape.

NanoViricides operates on a business model centered on licensing technology from TheraCour Pharma Inc. for specific antiviral applications. The company holds exclusive worldwide perpetual licenses for developing treatments against numerous significant viral diseases including HIV/AIDS, Hepatitis B and C, Rabies, Herpes Simplex Virus, Influenza, Dengue viruses, Ebola/Marburg viruses, and certain Coronaviruses. Additional information about the company's technology and programs can be found at https://www.nanoviricides.com.

For investors following the company's progress, updates are available in the company's newsroom at https://ibn.fm/NNVC. The successful completion of this $6 million financing demonstrates continued institutional confidence in NanoViricides' technology platform and development strategy, though the company appropriately notes that drug development remains inherently risky and requires substantial capital over extended timeframes.

The timing of this capital raise reflects growing recognition of the need for innovative antiviral approaches in the pharmaceutical industry. As viral diseases continue to pose significant global health challenges, companies developing platform technologies capable of addressing multiple pathogens represent important contributors to pandemic preparedness and routine infectious disease management. The progression of NanoViricides' pipeline could potentially offer new treatment options for conditions that currently lack optimal therapeutic solutions.