SOURCE: NanoAntibiotics

August 22, 2016 08:00 ET

NanoAntibiotics Changes Name to BioVie (OTC PINK: BIVI) and Welcomes Dr. Patrick Yeramian to Clinical Team

BEVERLY, MA--(Marketwired - August 22, 2016) - BioVie Inc. (OTC PINK: BIVI) (the "Company," formerly NanoAntibiotics, Inc.), a development-stage company focused on the discovery, development, and commercialization of innovative drug therapies, announced today that shareholders have approved changing the company name to BioVie Inc. The Company's stock will now trade under the symbol "BIVI." More information is available at www.biovieinc.com.

BioVie also welcomed Dr. Patrick Yeramian as consultant Medical Director to guide the clinical development program for the Company's new drug candidate, BIV201. This novel therapeutic is based on proprietary CIPT Technology and is being developed to treat ascites due to liver cirrhosis, a life-threatening condition. "Dr. Yeramian's broad experience, proven track record, and professional connections make him a great addition to our team. He has already made important contributions to our investigational new drug (IND) application which is progressing ahead of schedule. His expertise will be invaluable for clinical trial execution," commented CEO Jonathan Adams.

Prior to joining the BioVie team, Dr. Yeramian worked with the Company's regulatory expert, Stacy Suberg, Ph.D. "I've worked with Stacy on successful clinical trials in the past. I look forward to working with her again, and the other members of the BioVie team. The therapeutic concept behind BIV201 is based on compelling data, which spurred my interest in the clinical program," commented Dr. Yeramian.

Dr. Yeramian brings three decades of experience in research and drug and medical device development to BioVie's management team. He has served as a medical director for multiple organizations including Searle Pharmaceuticals (now Pfizer), the Vaccine and Gene Therapy Institute of Florida, and TapImmune Inc. During his career, he has helped companies secure over $25 million in grants and awards, filed more than 20 investigational new drug and device applications (INDs/CTX/CTAs), and won regulatory approvals for five new drugs and devices.

BioVie's immediate goal for BIV201 is to commence a clinical trial as early as 2017, contingent on FDA acceptance of an Investigational New Drug ("IND") application, which is currently in development. For more information, please visit our website www.biovieinc.com.

About Liver Cirrhosis and Ascites

About one million Americans and millions worldwide suffer from liver cirrhosis. Cirrhosis is the 12th-leading cause of death due to disease in the US, killing an estimated 27,000 people each year. The condition results primarily from hepatitis, alcoholism, and fatty liver disease linked to obesity. Ascites is a common complication of advanced liver cirrhosis. With no medications approved by the FDA specifically for treating ascites, an estimated 40% of patients die within two years of diagnosis. Certain drugs approved for other uses may provide initial relief, but patients may fail to respond to treatment as ascites worsens. This unfavorable prognosis represents a critical unmet medical need. US treatment costs for liver cirrhosis, including ascites and other complications, are estimated at more than $4 billion annually.

About BioVie (formerly NanoAntibiotics)

BioVie Inc. is a development-stage company pursuing the discovery, development, and commercialization of innovative drug therapies. The Company is currently focused on commercializing BIV201, a novel approach to the treatment of ascites due to liver cirrhosis. In early 2016 the Company held a pre-investigational new drug ("pre-IND") meeting with the FDA, which provided guidance for an IND submission. The Company's new drug candidate could potentially commence US clinical trials as early as 2017.

Forward-Looking Statements

This press release contains forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involve risks, uncertainties and assumptions that could cause BioVie's actual results and experience to differ materially from anticipated results and expectations expressed in these forward-looking statements. BioVie has in some cases identified forward-looking statements by using words such as "anticipates," "believes," "hopes," "estimates," "looks," "expects," "plans," "intends," "goal," "potential," "may," "suggest," and similar expressions. Among other factors that could cause actual results to differ materially from those expressed in forward-looking statements are BioVie's need for, and the availability of, substantial capital in the future to fund its operations and research and development; and the risks that BioVie's compounds may experience delays or difficulties in commencing or completing clinical studies, may not successfully complete pre-clinical or clinical testing, or may not be granted regulatory approval to be sold and marketed in the United States or elsewhere. A more complete description of these risk factors is included in BioVie's filings with the Securities and Exchange Commission under its former name. In addition to the risks described above and in BioVie's filings with the SEC, other unknown or unpredictable factors also could affect BioVie's results. No forward-looking statements can be guaranteed and actual results may differ materially from such statements. Given these uncertainties, you should not place undue reliance on any forward-looking statements. BioVie undertakes no obligation to release publicly the results of any revisions to any such forward-looking statements that may be made to reflect events or circumstances after the date of this press release or to reflect the occurrence of unanticipated events, except as required by applicable law or regulation.

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