Friday, September 14, 2012
NovaBay lines up investment, Asian distribution deal
NovaBay Pharmaceuticals Inc. could receive investments of up to $5.5 million from a venture related to a Chinese drug company that signed a five-year marketing deal with NovaBay. Naqu Area Pioneer Pharma Co. Ltd. of Shanghai will pay the Emeryville-based company (NYSE MKT: NBY) $500,000 upfront to sell NovaBay's NeutroPhase skin and wound cleaner in Hong Kong, Macau, Taiwan, Singapore, Malaysia, Indonesia, Myanmar, Philippines, Thailand, Vietnam, Brunei, Cambodia and Laos. The commercial launches in select markets is expected by the end of this year, but others will have the product by 2014, NovaBay said Friday. NovaBay will receive up to $200,000 in milestone payments.