Alcon increases its financial support for NovaBay Pharmaceuticals' research and development efforts

Dec 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.