WEST HAVEN, Conn.--(BUSINESS WIRE)--NanoViricides, Inc. (OTC BB: NNVC) (the "Company"), announced today that it has appointed Mukund S Kulkarni, Professor of Finance and Chancellor of Penn State University, Harrisburg, as an independent member of the Company's Board of Directors.
Dr. Mukund S. Kulkarni became the chancellor of Penn State Harrisburg in 2010. Dr. Kulkarni continues to hold his academic appointment of Professor of Finance, in addition to his administrative position as the Chancellor. An accomplished teacher and scholar, Kulkarni is widely published in academic journals and has presented papers at several scholarly conferences. His research interests are in the areas of capital budgeting, capital structure, and information content of stock prices.
Dr. Mukund Kulkarni joined Penn State Harrisburg in 1985 as a faculty member in the School of Business Administration. During his many years there, he held several administrative positions. Prior to becoming chancellor, he was senior associate dean for academic affairs from 2006-2010. In 1996, he became the director of the School of Business Administration, a position he held for a period of ten years.
During Dr. Kulkarni's tenure, Penn State Harrisburg has experienced substantial growth in its student population. In support of enrollment growth, he has overseen successful introduction of new degree programs, expanded international outreach efforts, enhanced teaching and learning support to faculty, and developed and executed plans to upgrade instructional technology and classroom facilities. He has drawn an ambitious plan for facilities improvement in support of student growth.
Dr. Kulkarni is an invited lecturer and consultant to several academic institutions in the U.S. and abroad, in addition to state government and nonprofit organizations. He has valuable corporate experience in the commercial banking industry particularly in the area of resource and deployment planning, branch expansion planning, and bank profitability assessment.
Dr. Kulkarni is widely engaged in social and civic activities in and around Harrisburg region. He is member of several boards of civic and nonprofit organizations including Harrisburg Regional Chamber of Commerce, United Way of the Capital Region, Modern Transit Partnership, and Asian Indian Americans of Central Pennsylvania, among others.
Dr. Kulkarni earned his bachelor's and master's degrees in his native India, an M.B.A. from Marshall University, and a Doctorate in economics with concentration in finance from the University of Kentucky.
"Dr. Kulkarni's strategic vision, his grasp of expansive growth, and his knowledge of capital structuring will be valuable to NanoViricides as we move further towards drug approvals," said Anil R. Diwan, PhD, President and Chairman of the Company.
"Dr. Kulkarni's strong integrity and professional expertise will be of great help in strengthening our corporate governance as well as help us with corporate growth planning and execution," said Eugene Seymour, MD, MPH, CEO of the Company.
NanoViricides, Inc. currently has six drug candidates in its pipeline and several research programs. The Company is advancing both an injectable drug and an oral drug against Influenzas in IND-enabling studies in its FluCide™ program. The oral FluCide drug is being developed for out-patient influenza cases. The injectable FluCide is being developed for the seriously ill, hospitalized patients with influenza-like illness. Both of these drugs are broad-spectrum, i.e. they are expected to work against most if not all influenza A viruses. The Company believes so because the virus-binding ligand in these drugs mimics sialic acid, and it is well known that all influenza viruses bind to sialic acid receptors on a cell in order to gain entry into the cell. Both of these anti-influenza drugs may also be useful for prophylaxis, such as for the protection of health care workers. In addition, the Company has developed several other highly effective drug candidates. These include HIVCide™, HerpiCide™, DengiCide™, and a broad-spectrum nanoviricide eye drop formulation against viral infections of the eye. The Company's drug programs are based on the Company's patented "nanoviricide®" platform technology that enables specifically targeting a particular type of virus with a novel mechanism of action. In addition, the Company's other research and development programs include (a) broad-spectrum nanoviricides against a number of Neglected Tropical Diseases, and (b) its novel ADIF™ ( "Accurate Drug In Field"™ ) technologies which promise a way to attack novel viruses, whether man-made (bioterrorism) or natural (such as SARS), before they cause a pandemic.
NanoViricides, Inc. (www.nanoviricides.com) is a development stage company that is creating special purpose nanomaterials for antiviral therapy. The Company's novel nanoviricide® class drug candidates are designed to specifically attack enveloped virus particles and to dismantle them. The Company is developing broad-spectrum drugs against a number of viral diseases. The Company's development candidates include an anti-influenza injectable drug and an anti-influenza oral drug; both expected to be effective against most types of influenza viruses including H1N1 swine flu, H5N1 bird flu, seasonal Influenzas, and possibly the recent threat of novel H7N9 influenza A virus. In addition, the Company is also developing drugs against HIV, oral and genital Herpes, viral diseases of the eye including EKC and herpes keratitis, and Dengue viruses. The Company's research programs include Hepatitis C, Rabies, 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 that 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.
Amanda Schuon, 310-550-7200