Shelton’s NanoViricides announced Thursday it has begun work on a drug to treat monkeypox – news that came on the same day that the viral ailment was declared a national public health emergency.
Monkeypox, caused by a variola virus in the same family as smallpox, has been spreading around the world in an outbreak that began earlier this summer. The U.S. Department of Health and Human Services declared a public health emergency Thursday to fight the disease, which has infected more than 7,100 Americans.
According to a statement, NanoViricides intends to screen its library of compounds to develop broad-spectrum drugs that can improve on the current treatment, tecovirimat (sold as TPOXX). The company will also attempt to encapsulate tecovirimat into tiny particles – using the active ingredient in one of its COVID-19 candidates – to fight monkeypox, according to a statement.
NanoViricides President Anil R. Diwan said, “We are excited to act rapidly to develop much needed, safe and effective monkeypox therapeutics.”
NanoViricides’ announcement caused its stock price to jump nearly 50% prior to the stock market opening on Thursday. As of Friday’s opening, the stock was at $3.16 a share, up from $1.80 per share on Aug. 1.
Founded in 2005, NanoViricides has drawn attention for its claims on treatments for COVID-19 and other viral ailments in recent years. The company completed licensing a suite of anti-COVID drugs from TheraCour in September 2021.
As part of its monkeypox announcement, NanoViricides said that its lead COVID-19 candidate, NV-CoV-2, will soon be tested in “impending human clinical trials” although the company added it had not yet completed its application.
NanoViricides closed on an $11.5 million public offering in 2020.
Contact Liese Klein at lklein@newhavenbiz.com.
