NovaBay Pharmaceuticals, Inc, a mid-stage biopharmaceutical company developing first-in-class anti-infective products for the treatment and prevention of a wide range of infections without causing resistance, has entered into an agreement with Galderma SA to develop and commercialize NovaBay's novel proprietary Aganocide compounds. The exclusive agreement is worldwide in scope, with the exception of certain Asian markets, and covers all major dermatological conditions, excluding onychomycosis (nail fungus) and orphan drug indications.
Under the terms of the agreement, NovaBay expects to receive from Galderma up to $50 million upon achievement of certain development and regulatory milestones related to the acne and impetigo indications and future royalties on net sales of products. The agreement also envisages further cooperation for additional dermatological products and indications. Under the agreement, NovaBay will also receive escalating double-digit royalties on net sales of products.
Galderma will be responsible for the development costs of the acne and other indications, except in Japan, and for the ongoing development program for impetigo, upon the achievement of a specified milestone. Galderma will also reimburse NovaBay for the use of its personnel in support of the collaboration. NovaBay retains the right to co-market products resulting from the agreement in Japan. In addition, NovaBay has retained all rights in other Asian markets outside Japan, and has exclusive rights to promote the products developed under the agreement in the hospital and other healthcare institutions in North America.
"This agreement highlights Galderma's commitment to the future of dermatology. Aganocide compounds have the potential to bring about significant progress in the treatment of skin diseases which affect millions of patients, without adding to the growing problem of antibiotic resistance," said Humberto C Antunes, chief executive officer of Galderma. "Galderma is glad to be working with NovaBay in this important and very promising endeavor."
"We are very pleased to have entered into this collaboration with Galderma, the world-leader in dermatology. We believe that Galderma's demonstrated development, regulatory and marketing capabilities, backed by its unrivaled reputation and track record of success, will enable NovaBay to benefit from accelerated development timelines and global commercial expertise," said Dr Ron Najafi, chairman and chief executive officer of NovaBay. "Like our alliance with Alcon in the ophthalmic, otic and sinus fields, this agreement represents another major validation of the potential for our novel Aganocide products in treating infections caused by a wide range of bacteria, viruses and fungi."
The company's collaborations with Alcon and Galderma provide significant future revenue-generating potential for NovaBay, with favorable economic-sharing for its unique, differentiated products that address large, global dermatological and ophthalmic markets.
The Aganocide compounds are novel, proprietary, synthetic N-chlorinated antimicrobial molecules specifically designed by NovaBay to mimic the body's natural defense against infection.
Galderma, created in 1981 as a joint venture between Nestlé and L'Oréal, is a global leading pharmaceutical company dedicated exclusively to the field of dermatology.
NovaBay Pharmaceuticals is a mid-stage biopharmaceutical company focused on developing its proprietary and patented Aganocide compounds, first-in-class, novel, synthetic anti-infective product candidates that are bioequivalent to the active antimicrobial molecules generated within white blood cells to treat and prevent a wide range of infections without causing resistance.