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news.NovaBay Pharmaceuticals has terminated its licensing deal with Alcon related to anti-infective Aganocide compounds.
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Aganocide compounds are indicated for the topical treatment and prevention of antibiotic-resistant infections.
As a part of the termination, NovaBay is entitled to receive a sum of $2,972,245 from Alcon which comprises termination fee, final reimbursement for research and development and personnel costs related to the collaboration.
NovaBay will regain worldwide technology license for NVC-422, th lead Aganocide compound, and other backup compounds from Alcon.
NovaBay will also receive rights related to all previously licensed areas in ophthalmic, otic, and sinus applications.
NovaBay can also continue Aganocides development for these areas on its own or in collaboration with new partners.
Moreover, Alcon will transfer all its regulatory filings to NovaBay.