EMERYVILLE, Calif., Nov. 8, 2010 (GLOBE NEWSWIRE) -- NovaBay Pharmaceuticals, Inc. (NYSE Amex:NBY), a clinical stage biotechnology company developing first-in-class, anti-infective compounds for the treatment and prevention of antibiotic-resistant infections, announced today that it has been awarded a cash grant totaling $244,479 under the U.S. Government's Qualifying Therapeutic Discovery Project (QTDP) program. The QTDP program was created by Congress as part of the Patient Protection and Affordable Care Act of 2010.
NovaBay received its grant for its program to treat Impetigo. Impetigo is a highly contagious superficial bacterial infection of the skin that affects mostly children. Methicillin-resistant S. aureus (MRSA) is being observed with increasing frequency in this population. Impetigo is currently being treated with antibiotic ointments, to which bacteria is developing resistance.
About NovaBay Pharmaceuticals, Inc.
NovaBay Pharmaceuticals is a clinical stage biotechnology company focused on developing its proprietary and patented Aganocide® compounds, which are novel, synthetic anti-infective product candidates with equivalent activity to the active antimicrobial molecules generated within white blood cells. NovaBay's Aganocide compounds are being developed to treat and prevent a wide range of infections without causing bacterial resistance. NovaBay has internal development programs aimed at addressing hospital and respiratory infections. The company has a license and research collaboration agreement with Alcon, Inc. for use of its Aganocide compounds to treat eye, ear and sinus infections as well as for contact lens care. NovaBay has also entered into an agreement with Galderma S.A. to develop and commercialize Aganocide compounds in acne, impetigo and other dermatological indications. For more information on NovaBay, visit: .
CONTACT: NovaBay Pharmaceuticals, Inc. Thomas J. Paulson, Chief Financial Officer 510-899-8800 email@example.com The Investor Relations Group Investor Relations: Adam Holdsworth 212-825-3210 firstname.lastname@example.org Public Relations: Laura Colontrelle 212-825-3210 email@example.com