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April 12, 2023

NanoViricides inks license agreement with India-based company for new COVID drug

PHOTO | Pixabay.com
By Matt Verrilli

Shelton-based NanoViricides announced April 4 it has signed a licensing agreement with Karveer Meditech of Kolhapur, India.

The nanomedicine company’s agreement will allow Karveer to commercialize NanoViricides’ COVID drugs NV-CoV-2 and NV-CoV-2-R.

Karveer has successfully obtained regulatory permission required to conduct clinical trials of these drugs as a treatment for COVID in India, according to the announcement..

Anil R. Diwan, president and chairman of NanoViricides said, "The human clinical trials of NV-CoV-2 are expected to begin soon in India with the drug being sponsored by our collaborator, Karveer.”

NV-CoV-2 is referred to as a “re-infection blocker” by the company. The drug is designed to directly attack the virus and disable it. Diwan asserted there are currently no other drugs that they are aware of able to accomplish this.

Karveer will conduct clinical trials of the drug in India with adherence to the country’s regulations. NanoViricides will have full access to the data generated from these trials and will use it internationally if needed. 

NanoViricides will reimburse Karveer for all costs and a development fee of 30%. NanoViricides will receive a 70% royalty of all final sales from the drug should it be commercialized.

Karveer declared its intent to license NV-CoV-2 and NV-CoV-2-R for commercialization back in 2021.

Contact Matt Verrilli at mverrilli@newhavenbiz.com.

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