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  • NanoViricides Strengthens Management Team With New Interim CFO 0 comments
    May 13, 2013 2:31 PM

    NanoViricides (OTCBB:NNVC) says it has hired Meeta Vyas as an interim CFO, which the company says will strengthen its executive team as it moves its drug candidates toward clinical trials.

    Vyas, who is married to president and chairman ofNanoViricides Anil R. Diwan, is a former CEO of a public company, and has more than 25 years experience in performance and process improvement of both publicly listed companies and non-revenue producing entities, said the company in its release, in areas ranging from finance and operations to strategy and management.

    She is also noted as being the first Indian woman to be named CEO of a publicly listed U.S. corporation, Signature Brands Inc, where she was credited with the turnaround plan that resulted in a return to profitability and growth for the company.

    Vyas later moved on to become the CEO of the World-Wide Fund for Nature - India (WWF-India) and then VP of the National Audubon Society (NYSE:USA), both non-revenue generating entities.

    NanoViricides also noted that earlier in her career, she was responsible for designing the strategy and initiating the implementation plan for the information technology outsourcing program atGeneral Electric.

    Also at GE, the company said Vyas ran GE Appliances' Range Products business unit having revenues exceeding $1 billion, where her team doubled operating income in less than two years.

    "We have significantly strengthened our executive team with the addition of Meeta Vyas as interim CFO," said CEO of NanoViricidesin the release, Eugene Seymour.

    "As we move our drug candidates towards clinical trials, Meeta's appointment not only improves our corporate governance but also sets the stage for further evolution of the company."

    Including the company's prolific FluCide program, it currently has six "commercially important" drug candidates in its pipeline that together address a market size greater than $40 billion. Those include drugs for use against HIV, viral eye diseases, Herpes, and Dengue viruses.

    It has said that both drugs in its FluCide program have shown "very high effectiveness" in preclinical animal studies of two distinctly different influenza A virus infections, often showing better results than the current standard of care - Tamiflu.

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

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