NovaBay, Naqu Area Pioneer Pharma Co. Ltd. sales and marketing update

NovaBay expanded a January deal granting Naqu Area Pioneer exclusive rights to commercialize wound cleanser NeutroPhase in China to include rights in Southeast Asia. Pioneer now has rights in Hong Kong, Macau, Taiwan, Singapore, Malaysia, Indonesia, Myanmar, the Philippines, Thailand, Vietnam, Brunei, Cambodia, Laos and China under the five-year deal (see BioCentury, Jan. 16).

NovaBay, which will supply NeutroPhase to Naqu Area Pioneer at an undisclosed transfer price, will receive $500,000 up front and is eligible for up to $200,000 in milestones. Additionally, Naqu Area Pioneer's Pioneer Pharma Pte Ltd. (Singapore) subsidiary will make an equity investment of up to $5.5 million in NovaBay, comprising an initial $1 million payment, $1.5 million upon regulatory approval through the purchase of units and $3 million through the exercise of an option. ...