Novabay Pharmaceuticals To Present at the 10th Annual Rodman & Renshaw Healthcare Conference

By November 7, 2008

Tom Paulson, CFO of NovaBay Pharmaceuticals, Inc. (AMEX: NBY & TSX: NBY, http://www.novabaypharma.com), a clinical stage company developing non-antibiotic anti-infective compounds for the treatment or prevention of a wide range of bacterial, viral, and fungal infections, will present at the 10th Annual Rodman & Renshaw Healthcare conference. The conference will be held at the New York Palace Hotel in New York on November 10-12, 2008. NovaBay’s presentation is scheduled for November 12, at 3:15PM/ET.

The presentation will be webcast live and accessible online at http://www.wsw.com/webcast/rrshq14/nby

Mr. Paulson will provide a corporate overview and highlight NovaBay’s business development strategy and product development candidates in the areas of hospital infections, catheter-associated urinary tract infections, and dermatology. NovaBay has entered into a licensing and research collaboration agreement with Alcon, Inc. for use of the Aganocide® compounds in the eye, ear and sinus, and in contact lens solutions. The company also has a license agreement with Kinetic Concepts, Inc. for the use of NovaBay’s NeutroPhase™ product in wound care applications. NovaBay has also recently announced positive results from a Phase IIa study of AgaNase™ for the nasal decolonization of Staph, including MRSA. The company is also developing product candidate opportunities for the dermatology market, details of which Tom Paulson will provide during the presentation.

About Rodman & Renshaw Capital Group, Inc.

Rodman & Renshaw, LLC is a full service investment bank dedicated to providing investment banking services to companies that have significant recurring capital needs due to their growth and development strategies, along with research and sales and trading services to investor clients that focus on such companies. Rodman is a leading investment banking firm with particular emphasis on “essential” industries with significant capital needs, including health care (especially life science), energy (especially upstream oil and gas), ferrous and non-ferrous metals, shipping, and natural resources, as well as a leader in the PIPE (private investment in public equity) and RD (registered direct placements) transaction markets.

About NovaBay Pharmaceuticals, Inc.

NovaBay Pharmaceuticals, Inc. is a clinical stage biopharmaceutical company focused on developing innovative product candidates targeting the treatment or prevention of a wide range of infections in hospital and non-hospital environments. NovaBay has discovered and is developing a class of non-antibiotic anti-infective compounds, which it has named Aganocide® compounds, which are based upon small molecules that are generated by white blood cells to defend the body against invading pathogens. NovaBay believes that Aganocide® compounds could form a platform on which to create a variety of products to address differing needs in the treatment and prevention of not only bacterial and viral infections, but also Staphylococcus aureus (including resistant strains known as MRSA) without developing resistance, a serious problem that invariably plagues all antibiotics. NovaBay has entered into a licensing and research collaboration agreement with Alcon Laboratories, Inc. for use of the Aganocide® compounds in the eye, ear and sinus, and in contact lens solutions. The company also has a license agreement with an affiliate of Kinetic Concepts, Inc. for the use of NovaBay’s NeutroPhase product in wound care applications. NovaBay™, Aganocide®, AgaNase™, and NeutroPhase™ are trademarks of NovaBay Pharmaceuticals, Inc. All other trademarks and trade names are the property of their respective owners.

Forward-Looking Statements

This release contains forward-looking statements, which are based upon management’s current expectations, assumptions, estimates, projections and beliefs. These statements include, but are not limited to, statements regarding the development and potential benefits of, and the market opportunities for, NovaBay’s product candidates. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results or achievements to be materially different and adverse from those expressed in or implied by the forward-looking statements. Factors that might cause or contribute to such differences include, but are not limited to, risks and uncertainties relating to difficulties or delays in discovery, development, testing, regulatory approval, production and marketing of the company’s product candidates, unexpected adverse side effects or inadequate therapeutic efficacy of the product candidates, the uncertainty of patent protection for the company’s intellectual property or trade secrets, the company’s ability to obtain additional financing as necessary and unanticipated research and development and other costs. The forward-looking statements in this release speak only as of this date, and NovaBay disclaims any intent or obligation to revise or update publicly any forward-looking statement except as required by law.

Contact:

Investors:
NovaBay Pharmaceuticals Contacts
Theresa Granados
510-899-8870
Head of Investor Relations
tgranados@novabaypharma.com

or

The Investor Relations Group Investor Relations: Adam Holdsworth / Christine Berni 212-825-3210 or Media Relations: Janet Vasquez / Laura Colontrelle 212-825-3210

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