NovaBay selects Chinese distributor for wound cleanser product line
NovaBay Pharmaceuticals has entered into a commercial partnership agreement with Pioneer Pharmainto for the commercialisation of NeutroPhase in China. As part of the agreement, NovaBay will receive an upfront payment of approximately US$300,000, with the potential for additional payments totalling approximately US$1 million that may be triggered by certain regulatory milestones relating to commercial launch.
NeutroPhase is an FDA-cleared wound cleanser developed by NovaBay to promote healing and improve clinical outcomes for patients with chronic non-healing wounds, including Stage I-IV pressure ulcers, stasis ulcers, leg ulcers, diabetic foot ulcers, postsurgical wounds, first and second degree burns, abrasions and minor irritations of the skin. A US launch is expected to take place during the first quarter of 2012.