This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

NovaBay Pharmaceuticals And Galderma Expand Their Agreement To Include Impetigo

EMERYVILLE, Calif., Dec. 6, 2010 (GLOBE NEWSWIRE) -- NovaBay Pharmaceuticals, Inc. (NYSE Amex:NBY), a clinical stage biotechnology company developing first-in-class, anti-infective compounds for the treatment and prevention of antibiotic-resistant infections, and Galderma, a global leading pharmaceutical company dedicated exclusively to the field of dermatology, announce the expansion of their multi-year collaboration agreement. Based on positive data assessing the activity of NovaBay's Aganocide ® compounds against impetigo, Galderma has agreed to exercise its option for this indication.

Dr. Ron Najafi, Chairman and CEO of NovaBay, commented, "We are very pleased with Galderma's decision to exercise their option. Galderma is the world's largest dermatology company with impressive clinical and commercial capabilities. This provides further evidence of Galderma's commitment to commercializing NovaBay's Aganocides for dermatological indications and we look forward to advancing these programs through clinical trials to commercialization."

Humberto C. Antunes, CEO of Galderma, commented, "This enhancement of our collaboration demonstrates our belief that NovaBay's first-in-class Aganocides have the potential to provide a significant advancement in the treatment of skin infections, a condition that affects millions of patients worldwide, without adding to the growing problem of antibiotic resistance. Galderma is looking forward to advancing the Aganocide programs for multiple indications."

Under the terms of the new agreement, which was initially signed in March 2009 for the research and development of impetigo and acne, Galderma has agreed to exercise its option to advance the clinical development program and will pay a $3.25 million continuation fee together with additional R&D funding in 2010 and 2011. NovaBay has the potential to receive up to $62 million in milestones from Galderma, and escalating double-digit royalties on net sales of products once commercialized.

Galderma will be financially responsible for all the development and clinical costs, and will reimburse NovaBay for the costs incurred in support of the collaboration. NovaBay retains the right to co-market products resulting from the agreement in Japan. In addition, NovaBay has retained rights in certain Asian markets outside of Japan, and has exclusive rights to promote the products developed under the agreement in hospital and other healthcare institutions in North America.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,813.39 +1.20 0.01%
S&P 500 2,088.87 -0.27 -0.01%
NASDAQ 5,116.1430 +13.3350 0.26%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs