Viriom successfully completes clinical safety trial with novel NNRTI, advances to efficacy studies in HIV-infected patients, and to development of HIV microbicide formulation

The Russian Corporation of Nanotechnologies (known as Rusnano) in Moscow, along with a yet-to-be announced co-investor, plans to fund the development of up to 15 potential drug molecules that have unique mechanisms of action, taking them from the preclinical development stage through to Phase 2 clinical trials. "We expect that of the 15 compounds, a few will support the investment," says Andrey Ivaschenko, chairman of ChemRar, the Moscow-based pharmaceutical and biotechnology services company that will provide the first five target molecules. Although the investment is not a huge sum, he notes, a compound can be developed to the Phase 2 clinical stage in Russia for $5-10 million.