[November 13, 2012]

NanoViricides Signs Agreement with BASi for Toxicology and Safety Studies

NanoViricides, Inc. (OTCBB: NNVC) (the "Company") announced today that it has entered into an agreement with Bioanalytical Systems, Inc. (NASDAQ: BASI) to conduct drug development studies required for submission of Investigational New Drug (IND) applications to the FDA for its nanoviricides® drug candidates against various viral diseases.

The Company has designed the toxicology and safety pharmacology studies that will enable the IND submission and the first-in-human clinical trials of its FluCide® investigational anti-influenza product. BASi will conduct the cGLP and non-GLP studies as required (cGLP = current Good Laboratory Practices). These studies are designed to assess overall safety in animals receiving multiple doses of FluCide. Specific safety pharmacology studies will also be conducted to assess the effects of FluCide® on the cardiovascular, respiratory and central nervous systems. These studies are required for US FDA IND submission, as well as for applications to conduct human clinical trials in other countries such as Australia.

The design of the studies was reviewed by the FDA in a pre-IND meeting, as previously announced by the Company.

The Company has previously reported successful results of the Company's FluCide™ drug candidates in pre-clinical animal studies using two different phylogenetically distinct types of Influenza A, viz. H1N1 and H3N2. The Company has also reported that the drug candidates have been found to be extremely safe in these animal studies. The Company intends to conduct additional efficacy studies as required for the IND application in parallel with the safety/toxicology studies.

The Company anticipates that it will need very large quantities of the drug candidate for these "tox package" studies. The Company has found FluCide to be safe in nimals at large dosages, and will need to determine certain safety and toxicology limit parameters. The Company is currently performing scale-up studies in order to produce the necessary quantities of the drug candidate.

About BASi:

BASi, established in 1974 with headquarters in West Lafayette, Indiana, is a pharmaceutical development company providing contract research services and monitoring instruments to the world's leading drug development companies and medical research organizations. With over 30 years of experience, BASi conducts IND-enabling drug safety and toxicology studies at its AAALAC-accredited laboratory located on a 52-acre campus near Evansville, Indiana. BASi has an excellent record of regulatory compliance. All facilities have been inspected by the US FDA with no significant adverse findings. Visit www.BASinc.com for more about BASi.

About NanoViricides:

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 H1N1 swine flu, H5N1 bird flu, seasonal Influenza, HIV, oral and genital Herpes, viral diseases of the eye including EKC and herpes keratitis, 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. 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. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond the Company's control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. The Company assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. Important factors that could cause actual results to differ materially from the company's expectations include, but are not limited to, those factors that are disclosed under the heading "Risk Factors" and elsewhere in documents filed by the company from time to time with the United States Securities and Exchange Commission and other regulatory authorities. Although it is not possible to predict or identify all such factors, they may include the following: demonstration and proof of principle in pre-clinical trials that a nanoviricide is safe and effective; successful development of our product candidates; our ability to seek and obtain regulatory approvals, including with respect to the indications we are seeking; the successful commercialization of our product candidates; and market acceptance of our products.

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