NanoViricides Inc. (NNVC)

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Press Release Source: NanoViricides, Inc.

NanoViricides Says AviFluCide(TM)-I May be the Leading Drug Against H5N1 Avian Flu
Wednesday June 21, 7:30 am ET

WEST HAVEN, Conn.--(BUSINESS WIRE)--June 21, 2006--NanoViricides, Inc. (Pink Sheets:NNVC - News), today announced that it is extremely proud of the results achieved by the NanoViricides' scientific staff in Hanoi, Vietnam during April and May 2006. The Government of Vietnam was exceptionally cooperative and provided lab facilities, biologics and staff assistance to our team. To our knowledge we are the only company ever to have this opportunity to work within this high level facility of the Ministry of Health. Experiments were continued by the Vietnamese scientists after the NanoViricides scientific team returned to the US. We are now receiving and analyzing the data obtained from these experiments.

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The Company believes the results of our bird flu drug, AviFluCide(TM)-I, have established that it is the leading drug against H5N1, based on a preliminary analysis. The Company will coordinate the press release with the Ministry of Health of the Government of Vietnam after the data analysis is completed.

The Company also announced that it has retained the services of the Gencarelli Group of Washington DC for business development purposes. The Gencarelli Group specializes in health and biotechnology business development in both public and private sectors.

At the end of May 2006, Form 144 -Notice of Proposed Sale of Securities, were filed with the SEC by the prior owners of the public shell company (then called edot-com) that became NanoViricides after our merger. This filing listed proposed sales by these shareholders of over 800,000 shares. The company believes that the recent stock price weakness is a result of the sale of these shares.

The company further announced that it has changed auditors as the company has grown quite rapidly and has now engaged the public auditing firm of Holtz Rubenstein Reminick LLP to perform the certified public audit. Holtz Rubenstein Reminick LLP is the "Fastest Growing Accounting Firm in America" (as recognized by both PAR, Sept. 2005, and Accounting Today, Apr. 2006) and one of the Top 25 Accounting Firms in New York (Crain's, Sept. 2005). It is a progressive regional accounting firm, providing a wide variety of accounting, tax and business advisory services to clients throughout the New York metropolitan area.

The audit is expected to be completed in early July. We expect to file with the SEC in order to become a fully reporting company shortly thereafter.

About NanoViricides - http://www.nanoviricides.com

NanoViricides, Inc. is a development stage company that is creating special purpose nanomaterials for viral therapy. A NanoViricide(TM) is a specially designed, flexible, nanomaterial that contains an encapsulated active pharmaceutical ingredient and targets it to a specific type of virus, like a guided missile. NanoViricide drugs are designed to block and dismantle the virus particles before they can infect a cell, thereby controlling viremia. This is a completely novel approach that is proving to be superior to existing approaches.

This press release contains forward-looking statements that reflect the Company's current expectation regarding future events. Forward-looking statements involve risks and uncertainties. Actual events could differ materially and substantially from those projected herein and depend on a number of factors including the success of the Company's research and development strategy, the availability of adequate financing, the successful and timely completion of clinical studies and the uncertainties related to the regulatory process.


Contact:

NanoViricides, Inc.
Leo Ehrlich, 917-853-6440
[e-mail]

Source: NanoViricides, Inc.