NovaBay® Pharmaceuticals, Inc. (NYSE MKT: NBY), a biopharmaceutical company developing and commercializing non-antibiotic anti-infective products, today announced that it is expanding its sales force for its innovative eye care product Avenova™ from 15 sales representatives to 35 representatives.
“We are encouraged by the early reception for Avenova from ophthalmologists and optometrists, and by the many patients reporting relief after years of suffering from chronic conditions such as blepharitis and dry eye syndrome,” said Ron Najafi, Ph.D., Chairman and CEO of NovaBay. “With 35 experienced medical representatives in our Avenova sales force, we will be able to to reach eye care specialists in every major market across the U.S.
“Focusing on the eye care market and growing revenues are key aspects of our recently unveiled business strategy, and we see our sales force expansion as a significant step in achieving our commercials goals,” added Dr. Najafi. “We plan to further increase our sales force to more than 50 representatives by July, which will allow us to reach more of the estimated 30 million Americans who suffer from eyelid conditions. We estimate the market opportunity for Avenova at $500 million annually in the U.S. alone.”
Each member of NovaBay’s sales team has at least 10 years of experience in ophthalmology and optometry. The team is led by NovaBay Vice President of Sales and Marketing Glenn Moro, who has 27 years of experience marketing eye care products for Alcon Laboratories. The direct sales force is being supported by NovaBay’s prominent Ophthalmic and Optometry Advisory Board members.
NovaBay’s commercial program is supported by distribution agreements with McKesson Corporation and Vision Source, the largest independent optometry network in the U.S. representing 2,800 independent optometrist offices. Avenova will be available in 90 percent of the nation’s 67,000 pharmacies and in optometrists’ offices all across the country.
NovaBay management and key opinion leaders in the field of eye care will hold an investment community conference call on Wednesday, January 21, 2015, at 12:00 p.m. Eastern time (9:00 a.m. Pacific time) to discuss Avenova, the Company’s new strategy and expanded sales force, and answer questions.
Shareholders and other interested parties may participate in the conference call by dialing 866-880-4999 from within the U.S. or 702-495-1913 from outside the U.S. and entering the conference identification number 62204781. A replay of the call will be available beginning two hours after its completion through 11:59 p.m. Eastern time February 4, 2015 by dialing 855-859-2056 from within the U.S. or 404-537-3406 from outside the U.S. and entering the conference identification number 62204781. The call will be webcast live and archived for 90 days at http://novabay.com/investors/events.
NovaBay’s Avenova (previously known as i-Lid Cleanser) is the only product designed for continuous daily eyelid hygiene. It is the first prescription, non-detergent based, non-antibiotic product shown to be successful in the treatment for such common eye conditions as blepharitis, meibomian gland dysfunction and associated dry eye syndrome. Cleared by the FDA, Avenova offers significant advantages when used to manage these disorders, compared with alternative regimens that include antibiotics, steroids and detergent-based cleansers.
Avenova is unique as the only eye care product to contain Neutrox, NovaBay’s pure hypochlorous acid (HOCl). Neutrox is a naturally occurring substance produced by white blood cells to fight microbial invaders. Laboratory tests show it has potent antimicrobial activity and yet is non-toxic to mammalian cells. Avenova was cleared by the U.S. Food and Drug Administration as a prescription medical device through the 510(k) process.
The improvements in eye care made possible by Avenova has been described at meetings, in professional publications and in surveys by nationally prominent ophthalmologists and optometrists, including Christine W. Sindt, O.D., Clinical Associate Professor of Ophthalmology and Visual Sciences at the University of Iowa’s Carver College of Medicine, and Art Epstein, O.D., Director of Clinical Research at Phoenix Eye Care.
About NovaBay Pharmaceuticals, Inc.: Going Beyond Antibiotics®
NovaBay Pharmaceuticals is a biopharmaceutical company focusing on the development and commercialization of its non-antibiotic anti-infective products to address the unmet therapeutic needs of the global, topical anti-infective market with its two distinct product categories: FDA-cleared NEUTROX™ Family of Products: AVENOVA™ for the eye care market, NEUTROPHASE® for wound care and CELLERX™ for the dermatology market; and its AGANOCIDE® compounds, led by AURICLOSENE™. NovaBay is partnered in the U.S. and around the globe with: PBE, Inc. (USA), IHT, Inc. (USA), Galderma (France), Virbac (France), China Pioneer Pharma (China and Southeast Asia), Shin Poong Pharmaceuticals (Korea), Biopharm (North African and Middle East).
This news release contains “forward-looking statements.” These statements are based on management’s current expectations and involve risks and uncertainties, which may cause actual results to differ materially from those set forth in the statements. The forward-looking statements may include statements regarding product development, commercial potential and financial performance. No forward-looking statement can be guaranteed and actual results may differ materially from those projected. Other risks relating to the company and its products, including risks that could cause results to differ materially from those projected in the forward-looking statements in this press release, are detailed in NovaBay’s latest Form 10-K and Form 10-Q filings with the Securities and Exchange Commission, especially under the heading “Risk Factors.” NovaBay undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise.
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Thomas J. Paulson
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