Benzinga | Sep 14, 2021 06:07AM EDT

EXCLUSIVE: NanoViricides Beefs Up Its COVID-19 Pipeline With TheraCour Licensing Pact

* NanoViricides Inc (NYSE:NNVC) has in-licensed oral antiviral candidates targeting COVID-19 and variants from TheraCour Pharma Inc. The Company executed a license agreement on September 8.

* Under the Agreement, the discovery of ligands and polymer materials, formulations, chemistry & chemical characterization, and process development and related work will be performed by TheraCour.

* NanoViricides is currently working on two preclinical COVID-19 lead drug candidates, NV-CoV-2- and NV-CoV-2-R.

* Related Link: NanoViricides' Antiviral Candidate Shows Encouraging Preclinical Action In COVID-19.

* NanoViricides' anti-COVID drugs are based on polymeric micelle nanomedicine technologies developed by TheraCour and its affiliate AllExcel Inc.

* The inventors have filed patent applications for NV-CoV-2 & NV-CoV-2-R. Its nominal expiry date would be 20 years after filing and, if issued, i.e., June 24, 2041, and could be extended in certain countries into 2043.

* Also See: NanoViricides COVID-19 Candidates Show 'Strong Pan-Coronavirus Effectiveness' In-Lab Studies.

* NanoViricides will not make any upfront cash payments to TheraCour.

* But milestone payments will include 700,000 Series A Convertible Preferred Stock shares and cash payments of $4 million.

* In addition, the Company agreed to pay to TheraCour 15% of net sales of licensed products.

* Read Next: Nanomedicine Company Makes "Nanomachines" that Attack Viruses.

* Price Action: NNVC stock closed 3.30% higher at $4.07 on Monday.