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Study to Evaluate Usage Strategy for further Development towards Drug Approval

NanoViricides, Inc. Signs Rabies Agreement with CDC for Expanded Research

WEST HAVEN, CT | Posted on August 4th, 2008

NanoViricides, Inc. (OTC BB: NNVC.OB), (the "Company") said that it has signed a Materials Cooperative Research and Development Agreement (MCRADA) with the United States Centers for Disease Control and Prevention (CDC) in Atlanta, Georgia for rabies treatment study. The study, to be performed in collaboration with the CDC Rabies Program, is scheduled to begin soon.

"This study will expand on two successful animal studies of RabiCide™-I performed previously by the government of Vietnam," said Eugene Seymour, MD, MPH, CEO of the Company, adding that "In those prior studies we achieved a 25% to 30% survival rate in animals that had already developed rabies. We believe this strong survival rate is a historical first achievement for any post-infection rabies treatment."

"Collaborating with CDC in designing and conducting these studies is an important step forward," said Anil R. Diwan, PhD, President of the Company, adding, "If the current studies are successful, we anticipate that this will be instrumental in helping our anti-rabies nanoviricide towards drug approval and widespread use across the world."

The Company has previously reported that Yale Research Professor Thomas Lentz, a leading expert in antiviral therapeutics based on virus-cell binding, has joined the Scientific Advisory Board. Prof. Lentz studied the binding of rabies virus to various cell receptors and has performed pioneering research in this field. The Company believes that it has put together a strong team to tackle rabies.

About the Centers for Disease Control and Prevention (CDC):

The Centers for Disease Control and Prevention is an organization that protects people's health and safety by preventing and controlling diseases and injuries; enhances health decisions by providing creditable information on critical health issues; and promotes healthy living through strong partnerships with local, national, and international organizations. As a federal agency, CDC does not promote or endorse specific products or entities. For more information please visit www.cdc.gov.

About Rabies:

Rabies is a uniformly fatal disease (i.e. 100% death rate upon infection), and cannot be cured after infection occurs, except in very rare cases. Rabies is transmitted to humans upon getting bitten by mammals such as bats and canines (dogs, raccoons, foxes, etc.). The World Health Organization estimates that more than 55,000 people die each year from rabies, mostly in Asia, Africa and Latin America. An estimated 10 million people receive prophylactic treatment against rabies due to exposure to potentially rabid animals. Rabies is a viral zoonotic (infectious disease transmitted by animals to humans) neuroinvasive disease that causes acute encephalitis (inflammation of the brain) in mammals. There are only six known survivors of clinical rabies. For more information please visit www.cdc.gov/rabies.

Rabies prophylaxis and treatment market worldwide is estimated to be well in excess of $300 million.

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About NanoViricides, Inc.
NanoViricides, Inc. (www.nanoviricides.com) is a development stage company that is creating special purpose nanomaterials for viral 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 H5N1 bird flu, seasonal influenza, HIV, EKC (epidemic kerato-conjunctivitis or severe pink eye disease), 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. 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. 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. 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 including the success of the Company's research and development efforts, the availability of adequate financing, the successful and timely completion of clinical studies and the uncertainties related to the regulatory process, described in the “Management’s Discussion and Analysis” section of the Company’s Form 10-KSB and other reports and filings with the Securities and Exchange Commission.

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Contacts:
NanoViricides, Inc.
Amanda Schuon
310-550-7200

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