Alcon Increases Financial Support For NovaBay

NovaBay Pharmaceuticals (NovaBay) has reported that its partner, Alcon has increased its on-going financial support of the company’s research and development efforts by more than $2m per year.

The company said that the additional funding is expected to enhance NovaBay’s pre-clinical and clinical development programs in the areas of eye, ear and sinus infections, as well as contact lens solutions.

Furthermore, Alcon is conducting Phase 2 trials of NovaBay’s lead compound, NVC-422, for the treatment of viral conjunctivitis. The viral conjunctivitis trials are under way at 30 medical centers around the US and expect to enroll approximately 250 patients.

NovaBay has a licensing and research collaboration agreement with Alcon, for use of its Aganocide compounds to develop new therapeutics to treat eye, ear and sinus infections, as well as develop new contact lens solutions.

Developed by NovaBay to mimic the body’s defense against infection, Aganocides are proprietary synthetic analogs of the molecules used by white blood cells to destroy harmful microbes in the body, such as viruses and bacteria.