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NovaBay Pharmaceuticals, Inc. Reports First Quarter 2009 Financial Results
Date:5/18/2009

lication from the FDA in January. The IND clearance triggered a milestone payment of $1 million from Alcon to NovaBay.

  • In March 2009, NovaBay announced a global agreement with Galderma, S.A. to develop and commercialize Aganocide compounds for all major dermatological conditions, excluding onychomycosis (nail fungus). Under the terms of the agreement, NovaBay expects to receive up to $50 million from Galderma upon achievement of certain development and regulatory milestones related to the acne and impetigo indications and escalating double digit royalties on future net sales of products. Galderma will be responsible for the development costs of the acne and other indications, except in Japan, and for the ongoing development program for impetigo, upon the achievement of a specified milestone.

  • NovaBay also announced in March new data presented at the American Academy of Dermatology 67th Annual Meeting that showed NVC-422 achieved significant anti-mycological efficacy in-vivo in treating subcutaneous dermatophyte infections based on an established pre-clinical model. Importantly, these data combined with the past preclinical work that showed NVC-422 kills P. acne in the follicle which strongly suggests that NVC-422 may be a potent and well-tolerated treatment for acne and numerous other serious skin infections.

  • In April 2009, NovaBay announced an exclusive agreement with Professors Markus Nagl M.D. and Waldemar Gottardi, Ph.D. of the Medical University of Innsbruck, Austria that broadens NovaBay's intellectual property portfolio and could expand clinical opportunities and accelerate clinical timelines for the Aganocide compounds. Under the terms of the agreement, NovaBay has an exclusive license to a broad portfolio of patent applications, as well as exclusive
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SOURCE NovaBay Pharmaceuticals, Inc.
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