Item 5.02.
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Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
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Appointment of Makarand Jawadekar
Effective February 7,
2020, the Board of Directors of NanoViricides, Inc. (the “Company”) appointed Makarand “Mak” Jawadekar,
Ph.D., as a new member of the Board. Dr. Jawadekar was appointed as an Independent Member of the Board of Directors, and will
serve as a member of the Company’s Audit, Compensation and Nominating Committees.
Makarand “Mak” Jawadekar, 69, has
over 35 years of experience in the pharma industry spanning both business and research activities. Dr. Jawadekar has extensive
experience in joint ventures, alliance management, contracting, outsourcing, benchmarking, performance metrics, pharmaceutical
research and development, drug delivery technologies, formulations, clinical supply manufacturing and packaging, clinical trial
materials, pharmaceutics, and pharmaceutical sciences. He also has deep knowledge and global experience working across the United
States, Europe, India, and other parts of Asia, including Japan and China. He has helped create several pharma R&D partnerships,
joint ventures, and collaborations during his career.
Dr. Jawadekar serves as a strategic advisor to pharmaceutical
and biotechnology companies through his independent consultancy, founded in 2010, after retiring from Pfizer, Inc., as Director,
Portfolio Management & Analytics, and as Vice President, Asia Colleague Resource Group, in Pfizer Global R&D division.
From 1982 to 2010, Dr. Jawadekar held roles of increasing responsibility in technical, management, and business development
positions at Pfizer, in the areas of Drug Delivery Technology Assessment, Strategic External Alliance Management, Strategic CMC,
Pharma R&D, Clinical Manufacturing, Manufacturing Technology Transfer and Scale-up, beginning as a research scientist in formulations
development.
Dr. Jawadekar serves on the boards of two public companies,
namely: Preveceutical Medical Inc. (CSE: PREV), and Cardax, Inc. (OTC: CDXI), as an independent board member. He also serves
on the Strategic and Scientific Advisory Boards of several companies, including Actinium Pharma (NYSE-Amer.: ATNM), Saama Technologies, Inc.,
and Diant Pharma, Inc., as well as Tonino Lamborghini SpA, Italy. He also serves as a member of the Board of Directors
at Abilities Inc., a New York based, non-profit organization. Mak holds a Ph.D. in Pharmaceutics from the University of Minnesota,
and was honored with an honorary D.Sc. degree by DYP Mumbai University, recommended by the President of India.
The Company believes Dr. Jawadekar’s
long history as a pharmaceutical and biotech professional, particularly in alliance development and management, in business strategy,
and in pharmaceutical sciences and CMC in drug delivery, render him well qualified to serve as an independent member of the Board
of Directors.
Resignation of James Sapirstein
Effective
February 10, 2020, James Sapirstein resigned as a Member of the Board as well as a Member of its Audit, Nominating and Compensation
Committees. Mr. Sapirstein resigned as a result of his recent appointment as President and Chief Executive Officer of AzurRX
BioPharma, Inc. and did not indicate that his decision to resign was a result of any disagreement with the Company on any
matter relating to the Company’s operations, policies or practices.