SHELTON, Conn., Oct. 29,
2018 /PRNewswire/ -- NanoViricides, Inc. (NYSE
Amer.: NNVC) (the "Company"), a leader in developing novel
nanomedicines to treat viral diseases, reports that Mr.
James Sapirstein has been duly
appointed as an Independent Director to its Board of Directors. He
will join the Board as of November 1,
2018, and will also become a member of the Board's Audit
Committee, Nomination Committee, and Compensation Committee.
In addition, the Board has also appointed Dr. Irach Taraporewala,
CEO, as a Member of the Board.
Mr. Sapirstein has over 35 years of experience in the
pharmaceutical industry. He has held various roles in small as well
as big pharmaceutical companies, including as CEO for multiple
small companies. He has also served and is currently serving as a
Director of multiple pharmaceutical companies and of pharmaceutical
industry associations. He has been part of almost two dozen drug
product launches and specifically either led or has been a key
member of several HIV product launches into different new classes
of therapeutics at the time.
"This is an exciting time for NanoViricides, as it is preparing
to enter the clinical development phase. I am pleased to join the
Company's Board and intend to contribute to the Company's success
with my substantial experience in the field," said Mr.
Sapirstein.
"We are very pleased to announce that Mr. Sapirstein is joining
our Board. The Company has significantly improved its depth and
breadth of pharmaceutical industry expertise at the Board level
with his appointment," said Anil R. Diwan, PhD., Chairman of the
Board and President of the Company, adding, "We recently brought in
Dr. Irach Taraporewala, a seasoned pharmaceutical industry
executive with experience in taking novel drugs successfully
through Phase II regulatory trials, as CEO. These additions have
significantly bolstered NanoViricides' strength as a pharmaceutical
company."
"Mr. Sapirstein is well known in the Pharmaceutical Industry,
and has been associated with a number of successful drug launches,"
commented Dr. Irach Taraporewala, PhD, CEO of the Company,
continuing, "His extensive experience as a highly respected
biotechnology executive and as a Board member of pharmaceutical
companies will serve NanoViricides, Inc. very well as it progresses
on the path to become a leading antiviral therapeutics
company."
"We are very pleased with Mr. Sapirstein joining our team,"
concurred Mr. Stan Glick, Director
and Chairman of the Audit Committee, elaborating that, "His
extensive pharmaceutical industry expertise will be highly valuable
to the Board, and particularly to the Audit Committee."
"We look forward to working with Mr. Sapirstein," added Dr.
Mukund Kulkarni, Director and
Chairman of the Nomination Committee. "His broad, multi-dimensional
experience in this industry will be very helpful for connecting
with appropriate experts and resources as the Company engages in
the next phase of its business development," he posited.
Mr. Sapirstein began his career in 1984 with big pharmaceutical
companies. joining Eli Lilly in Sales; moving on to
Hoffmann-LaRoche in 1987 where he served for almost a decade as
part of its commercial teams in the USA and abroad, rising to become a Product
Director; and thereafter at Bristol Myers Squibb (BMS) as the
Director of International Marketing in the Infectious Diseases
group in 1996. While at BMS, he worked on several important
HIV/AIDS projects including Secure the Future.
Mr. Sapirstein's entry into the world of smaller pharma
companies began with Gilead Sciences, Inc. (GILD) in 2000 where he
led the Global Marketing team in its launch of Viread (tenofovir).
Later, in 2002, he accepted the position of Executive Vice
President, Metabolic and Endocrinology, for Serono Laboratories,
acquired by Merck GMBH in 2006. Thereafter in 2006, he became the
founding CEO of Tobira Therapeutics, then a private company. In
2012, Mr. Sapirstein became the CEO of Alliqua Biomedical at
Alliqua, Inc. Thereafter, he served as CEO of Contravir
Pharmaceuticals (CTRV) from March
2014 until October 2018. Mr.
Sapirstein has raised over $120 Million
dollars in venture capital and public capital markets
financing in his various engagements as CEO. He was named as a
Finalist for Ernst & Young Entrepreneur of the Year award in
2015 as well as in 2016. Mr. Sapirstein received an MBA from
Fairleigh Dickinson University in 1997,
and a BS (Pharmacy) from Rutgers
University in 1984.
Mr. Sapirstein currently holds Board positions on Enochian
Biosciences (ENOB), RespireRx Pharmaceuticals (RSPI) and the
privately held company Leading Biosciences. He is the Chairman of
the Board for BioNJ, an association of biopharma industries in
New Jersey. In addition, he is a
Board Director for BIO, the leading Biopharma Industries
Organization promoting public policy and networking in the
healthcare space, where he sits on both the Health Section and
Emerging Companies Section Governing Boards.
Mr. Sapirstein's appointment as an Independent Director of the
Board, as well as Dr. Taraporewala's appointment as a Member of the
Board, are to be ratified by shareholder vote at the forthcoming
Annual General Meeting of the Company, scheduled on November 30, 2018.
About NanoViricides
NanoViricides, Inc. (www.nanoviricides.com) is a development
stage company that is creating special purpose nanomaterials for
antiviral therapy. The Company's novel nanoviricide® class of drug
candidates are designed to specifically attack enveloped virus
particles and to dismantle them. The Company is developing drugs
against a number of viral diseases including H1N1 swine flu, H5N1
bird flu, seasonal Influenza, HIV, oral and genital Herpes,
shingles and chickenpox, viral diseases of the eye including EKC
and herpes keratitis, Hepatitis C, Rabies, Dengue fever, and Ebola
virus, among others. This press release contains
forward-looking statements that reflect the Company's current
expectation regarding future events. Actual events could differ
materially and substantially from those projected herein and depend
on a number of factors. Certain statements in this release, and
other written or oral statements made by NanoViricides, Inc. are
"forward-looking statements" within the meaning of Section 27A of
the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934. You should not place undue reliance on
forward-looking statements since they involve known and unknown
risks, uncertainties and other factors which are, in some cases,
beyond the Company's control and which could, and likely will,
materially affect actual results, levels of activity, performance
or achievements. The Company assumes no obligation to publicly
update or revise these forward-looking statements for any reason,
or to update the reasons actual results could differ materially
from those anticipated in these forward-looking statements, even if
new information becomes available in the future. Important factors
that could cause actual results to differ materially from the
company's expectations include, but are not limited to, those
factors that are disclosed under the heading "Risk Factors" and
elsewhere in documents filed by the company from time to time with
the United States Securities and Exchange Commission and other
regulatory authorities. Although it is not possible to
predict or identify all such factors, they may include the
following: demonstration and proof of principle in preclinical
trials that a nanoviricide is safe and effective; successful
development of our product candidates; our ability to seek and
obtain regulatory approvals, including with respect to the
indications we are seeking; the successful commercialization of our
product candidates; and market acceptance of our products. (FDA
refers to US Food and Drug Administration. EMA refers to the
European Union's office of European Medicines Agency.)
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SOURCE NanoViricides, Inc.