Contact Information: For information, contact: NovaBay Thomas Paulson Chief Financial Officer 510-899-8800 tpaulson@novabaypharma.com
NovaBay Pharmaceuticals to Receive Increase in Funding and Support From Alcon
| Source: NovaBay Pharmaceuticals
EMERYVILLE, CA--(Marketwire - December 17, 2009) - NovaBay Pharmaceuticals, Inc. (NYSE Amex : NBY ), a clinical stage biopharmaceutical company creating a new class of
anti-infectives for treating multi-drug resistant pathogens, announced
today that effective immediately, its partner, Alcon Inc. (NYSE : ACL ) has
increased its on-going financial support of the company's research and
development efforts by more than $2 million per year. The additional
funding is expected to enhance NovaBay's pre-clinical and clinical
development programs in the areas of eye, ear and sinus infections, as well
as contact lens solutions.
Alcon is conducting Phase 2 trials of NovaBay's lead compound, NVC-422, for
the treatment of viral conjunctivitis, a type of "Pink Eye." The viral
conjunctivitis trials are under way at 30 medical centers around the U.S.
and expect to enroll approximately 250 patients.
NovaBay has a licensing and research collaboration agreement with Alcon,
the world's leading eye care company, for use of its Aganocide® compounds
to develop new therapeutics to treat eye, ear and sinus infections, as well
as develop new contact lens solutions. Developed by NovaBay to mimic the
body's defense against infection, Aganocides are proprietary synthetic
analogs of the molecules used by white blood cells to destroy harmful
microbes in the body, such as viruses and bacteria.
About Alcon
Alcon, Inc. is the world's leading eye care company, with sales of
approximately $6.3 billion in 2008. Alcon, which has been dedicated to the
ophthalmic industry for more than 65 years, researches, develops,
manufactures and markets pharmaceutical products, surgical equipment and
devices, contact lens care solutions and other vision care products that
treat diseases, disorders and other conditions of the eye. For more
information on Alcon, Inc., please visit www.alcon.com.
About NovaBay
NovaBay Pharmaceuticals is a clinical stage biopharmaceutical company
focused on developing its proprietary and patented Aganocide compounds,
which are novel, synthetic anti-infective product candidates that are
bioequivalent to the active antimicrobial molecules generated within white
blood cells. NovaBay's Aganocides are being developed to treat and prevent
a wide range of infections without causing bacterial resistance. NovaBay
has internal development programs aimed at addressing hospital and
respiratory infections. The company has a licensing and research
collaboration agreement with Alcon, Inc. for use of its Aganocide compounds
to treat eye, ear and sinus infections as well as in contact lens care
solutions. NovaBay has also entered into an agreement with Galderma S.A. to
develop and commercialize Aganocides in acne, impetigo and other
dermatological indications. NovaBay™ and Aganocide® are trademarks of
NovaBay Pharmaceuticals, Inc. For more information on NovaBay, visit:
www.novabaypharma.com.
Cautionary Information Regarding Forward-Looking Statements
The statements in this press release regarding NovaBay's expectations of
Alcon's funding to accelerate development of pre-clinical and clinical
development programs in the areas of eye, ear and sinus infections are
forward-looking statements subject to risks and uncertainties. Actual
results may be different than those NovaBay expects due to a number of
factors, including the risk that actual results from the development
programs could cause Alcon to curtail its funding, as well as risks
relating to NovaBay and its Aganocide compounds detailed in NovaBay's
Quarterly Report on Form 10-Q, under the caption "Risk Factors" in Item 1A
of Part II of that report, which was filed with the Securities and Exchange
Commission on November 12, 2009.