NovaBay to Receive $5.7M Equity Investment from China Pioneer Pharma

NovaBay Pharmaceuticals (NYSE: NBY) today announced that it has expanded its NeutroPhase® commercial partnership agreement with China Pioneer Pharma Holdings Limited. (HK: 1345) ("Pioneer"), a Shanghai-based company that markets high-end pharmaceutical products. This agreement replaces the previous option to invest $3 million in NovaBay. The expanded agreement includes licensing rights to two new products, CelleRx™ and i-Lid™ Cleanser, developed by the MediBay Business Unit of NovaBay. The expanded partnership agreement covers the commercialization and distribution of these products in China and 11 countries in Southeast Asia. CelleRx™ is a new product developed by NovaBay for use in the field of aesthetic dermatology. NovaBay's other new product, i-Lid™ cleanser, was designed for use in ophthalmological applications. With the expansion of the commercial partnership agreement to include these two products, both in the NeutroPhase family of products, Pioneer has agreed to purchase 5 million unregistered shares of NovaBay stock for a total investment of $5.7 million. "We have been See full press release