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December 2, 2013
09:11 EDTNBYNovaBay, China Pioneer Pharma announce exploration of partnership agreement
NovaBay Pharmaceuticals announced that it has expanded its NeutroPhase commercial partnership agreement with China Pioneer Pharma Holdings, a Shanghai-based company that markets high-end pharmaceutical products. This agreement replaces the previous option to invest $3M in NovaBay. The expanded agreement includes licensing rights to two new products, CelleRx and i-Lid Cleanser, developed by the MediBay Business Unit of NovaBay. The expanded partnership agreement covers the commercialization and distribution of these products in China and 11 countries in Southeast Asia. With the expansion of the commercial partnership agreement to include these two products, both in the NeutroPhase family of products, Pioneer has agreed to purchase 5M unregistered shares of NovaBay stock for a total investment of $5.7M.
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