NanoViricides Inc. (NNVC)

[BonelessCat]

That wasn't to build a pilot facility. That was to build a lab expansion. The expansion was to allow development of new testing materials for all the animal testing currently underway. Here is the PR.

TheraCour plans on using the proceeds to improve its laboratories, which will allow for larger production space for upcoming NanoViricides studies. The company will also purchase analytical equipment and pay for the patent protection costs for its intellectual property.

“We are pleased that we will now be able to acquire nanoviricides at the larger scale needed for our upcoming IND-enabling studies,” Dr. Eugene Seymour, MD, MPH, CEO of NanoViricides, stated in the press release. “These studies include the development of a Tox Package as well as drug effectiveness studies of our drug candidates in larger animal models. We were previously limited to small animal studies.”

http://in.ibtimes.com/articles/5439/20100125/nanoviricides-inc-nnvc-ob-major-shareholder-completes-programmed-share-sale-appropriates-proceeds.htm