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NanoViricides Strengthens Board With Baylor College Professor

NanoViricides (OTCBB:NNVC) has appointed Baylor College of Medicine professor Dr. Milton Boniuk to its board of directors as an independent member, a move the company says will help foster its drug development activities.

Dr. Boniuk is the Caroline F. Elles Chair Professor of Opthalmology at Baylor in Houston, Texas, and conducts what the company says is a busy clinical practice in orbital surgery, eyelid reconstruction, ocular oncology and comprehensive ophthalmology.

He has been a long-term investor and strong supporter ofNanoViricides, the company said in its release on Tuesday.

"Milton's strong business acumen, integrity, and professional expertise will be of great help in strengthening our corporate governance as well as fostering our drug development activities," said CEO Dr. Eugene Seymour in the statement.

Dr. Boniuk is credited with significant contributions in cataract surgery, glaucoma, corneal dystrophies, retinal diseases and surgery, in particular in the area of ocular adenoviral infections, a field for which NanoViricides has developed a drug candidate.

Ocular adenoviral infections cause epidemic kerato-conjunctivitis (EKC), a viral eye disease for which the company's drug was successfully tested in rabbits.

"Dr. Boniuk brings a unique set of skills to the Board of NanoViricides, Inc.," said president Anil R. Diwan. "He shares our enthusiasm for the novel biomimetic NanoViricides(NYSE:R) technologies and the resulting anti-viral drugs.

"In addition to strengthening our corporate governance, he will be of great value in progressing our drug development programs into the clinic."

NanoViricides, which is developing drugs against a number of viral diseases including H1N1 swine flu, H5N1 bird flu, seasonal Influenza and HIV, estimated last week that it currently has sufficient cash in hand to support operations for at least two years at the current rate of cash expenditure.

It also estimated that it has sufficient cash in hand to support "initial human clinical trials of its first drug candidate, a broad-spectrum anti-influenza drug in its FluCide trade program," the company said last Wednesday.

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