NovaBay® Pharmaceuticals, Inc. (NYSE MKT: NBY), a biopharmaceutical company focusing on the development and commercialization of its non-antibiotic anti-infectives, announced today it will initiate a major marketing campaign and commercialization effort for the company’s new product, i-LidTM Cleanser. The product launch will be led by Glenn Moro, NovaBay’s new Vice President of Sales and Marketing.
The marketing campaign will target both optometrists and ophthalmologists, explaining why i-Lid Cleanser is a significant advance in the care of “dry eye” and blepharitis. It is estimated that 23 million Americans chronically suffer from inflammation of the eyelids, known as blepharitis, and another 13 million struggle with the debilitating condition of meibomian gland dysfunction (“MGD” or simply “dry eye”). NovaBay estimates the U.S. market size to be approximately $500 million with currently no products offering the unique advantages of i-Lid Cleanser. Importantly, NovaBay’s i-Lid Cleanser is the first non-detergent, non-irritating product to be prescribed for these conditions.
Eric Donnenfeld MD, FAAO, one of the top eye surgeons in the country and former president of the American Society of Cataract and Refractive Surgery explained, “The ability of i-Lid Cleanser to remove micro-organisms from the eyelid and eyelash surfaces coupled with its extraordinary tolerability, makes it an ideal product for the management of long term eyelid conditions like blepharitis and also for the routine cleansing needed pre cataract and LASIK surgery.”
Before joining NovaBay, Moro had worked in various sales and marketing positions for 26 years at eye care giant Alcon Laboratories. At Alcon, Moro led the successful launches of several new products, including the contact lens solutions OPTI-FREE® PureMoist® and OPTI-FREE® RepleniSH®. As Global Director of Marketing, Moro grew the company’s contact lens solution business from revenues of $200 million per year to $500 million per year. “I believe my experiences and accomplishments at Alcon prepared me for the task of making NovaBay’s i-Lid Cleanser a commercial success. Based upon my many years of marketing eye care products around the globe, I see i-Lid Cleanser is a true breakthrough product that brings real improvements in the standard of care and in the quality of patients’ lives. There is a huge potential market here in which we have already seen positive feedback from eye care professionals,” says Moro.
NovaBay will deploy a dedicated field sales force to market i-Lid Cleanser in New York City, Los Angeles, Boston, Atlanta, Dallas and other high value markets around the United Sates. “If initial sales targets are met, NovaBay will expand its sales force to provide expanded coverage reaching thousands more eye care professionals,” said Dr. Ron Najafi, CEO of NovaBay. “We are excited to have Glenn on board at NovaBay. He has decades of experience and a proven track record marketing eye care products. With his leadership and his strong personal relationships with optometrists and ophthalmologists, we believe we are well positioned to execute this commercialization strategy.”
“This is a key step in NovaBay’s transition from a clinical stage company to a development stage company with a commercial arm producing important products that generate revenue and profit,” said Board Director Paul E. Freiman, who currently serves as Chairman of Chronix BioMedical and previously served as Chief Executive Officer of Syntex Corporation. “The Board is very supportive of the i-Lid Cleanser commercialization strategy and has every expectation that Ron, Glenn and the rest of the team are doing everything they can to ensure a successful launch.”
This release contains forward-looking statements and opinions regarding the commercial potential of i-Lid Cleanser, which are based upon management’s current expectations, assumptions, estimates, projections and beliefs. The words “believe,” “will,” “estimated,” “potential” and “expectation” are intended to identify these forward-looking statements. 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 the actual effectiveness of NovaBay products and unexpected adverse side effects or inadequate therapeutic efficacy of i-Lid Cleanser, and the risk that potential customers will not perceive the benefits of i-Lid Cleanser to be the same as NovaBay believes. Other risks relating to NovaBay 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.” 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.
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NovaBay Pharmaceuticals Contacts
Thomas J. Paulson
Chief Financial Officer
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