(BSNS WIRE) EDot.com, Inc. Announces Term Sheet to Acquire NanoViricide, Inc.
EDot.com, Inc. Announces Term Sheet to Acquire NanoViricide, Inc.
Business Editors / Health/Medical Writers
MIAMI--(BUSINESS WIRE)--June 3, 2005--
EDot.com, Inc. (Pink Sheets:ECMM) announced the
execution of a definitive term sheet to acquire 100% of the common
stock of NanoViricide, Inc., a company engaged in the development of
targeted nanomedicines that act like molecular Trojan horses to combat
various viral infections, including HIV, HCV, Herpes, Asian (bird) Flu
and Influenza.
"I've been on the front lines dealing with HIV for almost 25
years," stated Eugene Seymour, M.D., the CEO of NanoViricide, Inc. and
of EDot.com, Inc., "at the bedside as a physician, in the lab as a
researcher, and in various countries collecting data. This disease has
had a profound effect on my life, and I have been looking for
something like this for the last 25 years. I feel that this technology
will position us to become a world leader in the treatment of
HIV-infected people."
"This technology is ahead of the market. It is a disruptive
technology in the therapy of viral diseases," noted Anil Diwan, Ph.D.,
President of NanoViricide Inc., and the research scientist who
invented the NanoViricide(TM) particle system. He continued, "Our
NanoViricide(TM) drug is designed like a chemical missile. It has a
number of recognition 'ligands' on its surface, that are specific to a
single type of virus. They are like the GPS system on a directed
missile. They will identify the enemy and attach to specific 'landing
sites' on the enemy target. The NanoViricide(TM) drug, after landing,
spreads itself all over the virus particle, and thus completely
neutralizes and disables the virus particle from binding to its
target, a human cell." Dr. Diwan added, "Dr. Seymour knows most of the
significant players in the HIV research and charitable communities.
His devotion to finding answers to this most difficult epidemic leads
us to feel confident that we are working in the right direction."
NanoViricide, Inc.
NanoViricide, Inc. is a development stage company that is creating
special purpose nanomaterials for viral therapy. NanoViricide, Inc.
has exclusive license in perpetuity for technologies developed by
Theracour Pharma for the five virus types, HIV, HCV, Herpes, Asian
(bird) flu and Influenza. A NanoViricide(TM) is a nanoparticle that
contains an encapsulated active pharmaceutical ingredient and targets
it to a specific type of virus. When a NanoViricide(TM) drug particle
enters the patient's blood stream, it attacks and immobilizes
circulating virus particles. Once this is done, the active
pharmaceutical ingredient is injected into the virus by the
NanoViricide(TM) particle, destroying it. The company plans to develop
novel NanoViricide(TM) drugs first against HIV, and anticipates that
in 2006, it will license the products to major pharmaceutical
companies.
Forward-Looking Statements
Certain statements in this release, and other written or oral
statements made by the Company, including the use of the words
"expect," "anticipate," "estimate," "project," "forecast," "outlook,"
"target," "objective," "plan," "goal," "pursue," "on track," and
similar expressions, 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. These forward-looking
statements are subject to known and unknown risks, uncertainties and
other factors that may cause actual results, performance, or
achievements of the company to be different from those expressed or
implied. The Company assumes no obligation and does not intend to
update these forward-looking statements. Among the important factors
that could cause actual results to differ materially from those
indicated by such forward-looking statements include, without
limitation: competitive and general economic conditions, adverse
effects of litigation, the timely development and acceptance of
services, significant changes in the competitive environment, the
failure to generate or the loss of significant numbers of customers,
the loss of senior management, increased government regulation or
reports and filings with the Securities and Exchange Commission, which
may be revised or supplemented in subsequent reports on SEC Forms
10-QSB and 8-K.
KEYWORD: NORTH AMERICA FLORIDA NEW YORK UNITED STATES
INDUSTRY KEYWORD: HEALTH AIDS BIOTECHNOLOGY PHARMACEUTICAL RESEARCH & SCIENC
MERGER/ACQUISITION
SOURCE: EDot.com, Inc.
CONTACT INFORMATION:
For EDot.com, Inc., Miami
Robert Weidenbaum, 305-860-3307
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