EMERYVILLE, Calif., Feb. 18, 2011 (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, has been ranked seventh in the biotech industry in Fast Company's annual list of the world's most innovative companies in 2011.
The magazine praises NovaBay "for antibiotic-like compounds that fight their battles by mimicking the human immune system" in a list appearing on page 126 of the March 2011 issue of Fast Company. The article may also be accessed on the Fast Company website at: http://www.fastcompany.com/most-innovative-companies/2011/top-10-biotech.html.
Commenting on how the selection process was conducted, Fast Company editors stated, "Our search for creative thinking, ingenious processes, and intelligent products took us deep into more than two dozen sectors and around the world. Our findings remind us of two things. First, that innovation can be found everywhere. And second, that some of the best ideas transcend sectors."NovaBay's Aganocide ® compounds are novel, synthetic N-chlorinated antimicrobial molecules specifically designed and developed to mimic the body's natural defense against infection. The Aganocide compounds maintain biological activities while demonstrating improved stability over the naturally occurring N-chlorinated antimicrobial molecules. In a clinical study of 129 patients, NovaBay's Aganocide compounds have been shown to be highly effective against bacteria, including some multi-drug resistant strains (such as MRSA), viruses and fungi. These compounds for topical treatment have the potential to deliver the same or better efficacy than antibiotics, and to address the growing problem of antibiotic resistance by employing a novel mechanism of action. Dr. Ron Najafi, Chairman and CEO of NovaBay, said, "This high-profile recognition of our efforts is sincerely appreciated. There is a substantial need for new solutions to the growing problem of antibiotic resistance, and innovative thinking is required for progress. We are proud that Fast Company has honored us in this way, and in doing so, it has shone a spotlight on our ongoing activities." About NovaBay Pharmaceuticals, Inc. NovaBay Pharmaceuticals is a clinical stage biotechnology company focused on developing its proprietary and patented Aganocide compounds, which are novel, synthetic anti-infective product candidates with equivalent activity to the active antimicrobial molecules generated within white blood cells. NovaBay's Aganocide compounds are being developed to treat and prevent a wide range of infections without causing bacterial resistance. NovaBay is developing commercial opportunities for its Aganocide portfolio of anti-infectives in four distinct healthcare markets: dermatology, ophthalmology, urology and hospital infections. The company has a license and research collaboration agreement with Alcon, Inc. for use of its Aganocide compounds to treat eye, ear and sinus infections as well as for contact lens care. NovaBay has also entered into an agreement with Galderma S.A. to develop and commercialize Aganocide compounds in acne, impetigo and other dermatological indications. For more information on NovaBay, visit: www.NovaBaypharma.com . About Fast Company Fast Company is the world's leading progressive business-media brand, with a unique editorial focus on innovation in technology, ethonomics (ethical economics), leadership, and design. Fast Company is written for, by, and about the most progressive business leaders. Editor Robert Safian was named AdWeek's Editor of the Year in 2009. Under the leadership of publisher Christine Osekoski, Fast Company made AdWeek's "Hot List" for three consecutive years, and FastCompany.com executive editor Noah Robischon has tripled traffic and revenue year over year. Fast Company is owned by Joe Mansueto, founder and owner of Morningstar, a leading provider of independent investment research. Cautionary Information Regarding Forward-Looking Statements The statements in this press release regarding the potential efficacy of its Aganocide compounds and to address the growing problem of antibiotic resistance are forward-looking statements. These statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in or implied by the forward-looking statements. Factors that might cause such differences include, but are not limited to: the risks that results obtained in animal models may not be obtained in humans; the risk that results obtained in pre-clinical studies may not be obtained in clinical studies; and inherent risks and uncertainties relating to difficulties or delays in conducting clinical trials, as well as other 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, 2010. The forward-looking statements in this release speak only as of this date, and NovaBay disclaims any intent or obligation to revise or update publicly any forward-looking statement except as required by law.
CONTACT: NovaBay Pharmaceuticals, Inc. Thomas J. Paulson, Chief Financial Officer 510-899-8800 tjpaulson@NovaBaypharma.com The Investor Relations Group Investor Relations: Adam Holdsworth 212-825-3210 firstname.lastname@example.org Public Relations: Laura Colontrelle 212-825-3210 email@example.com