NanoViricides, Inc. announced that Dr. Eugene Seymour, MD, MPH, the company's co-founder and CEO, has resigned from his position as CEO as well as a Director of the company to allow a successor with a pharmaceutical background in shepherding drugs through the process to FDA approval, to be appointed to serve in this capacity. Upon entry into severance agreement Dr. Seymour will assume the role of Chief Executive Officer Emeritus. The Board of Directors commenced a search for a permanent replacement for Dr. Seymour, which is ongoing.

Pending the appointment of a permanent Chief Executive Officer, the Board of Directors appointed Dr. Anil Diwan, the Company's President, as Interim Chief Executive Officer. The company's progress is expected to continue unaffected by the resignation of Dr. Seymour. Dr. Diwan, who has served as the company's President since 2005, has assumed the additional duties as interim CEO.

Dr. Diwan has been performing several of the CEO duties increasingly since the company's 2013 uplisting from the OTC Markets to NYSE-American. Further, Dr. Diwan has led several of the company's financing efforts with Dr. Seymour including two registered direct offerings conducted in September 2013 and January 2014 respectively, that raised approximately $30 million.