Published on December 17, 2009 at 8:54 AM
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.
SOURCE: NovaBay Pharmaceuticals