NovaBay Pharmaceuticals, Inc. and Virbac Corporation Enter Into a Collaboration and License Agreement for Animal Health
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EMERYVILLE, Calif. and CARROS, France, May 28, 2013 (GLOBE NEWSWIRE) -- NovaBay Pharmaceuticals, Inc., (NYSE:NBY), a clinical-stage biotechnology company focused on the topical, anti-infective market, today entered into a collaboration and license agreement with Virbac (NYSE Euronext:VIRP), a global veterinary product company. Virbac exercised its March 2012 Feasibility and Option Agreement, thereby acquiring exclusive worldwide rights to develop NovaBay's proprietary compound, auriclosene (NVC-422), for global veterinary markets. NovaBay will receive an option exercise fee as well as development and pre-commercial milestone payments as a result of the collaboration. NovaBay also expects to receive royalties on the sale of any commercial products in the companion animal field. Virbac's option exercise follows its extensive testing of auriclosene for veterinary uses during the 12-month option period.
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EMERYVILLE, Calif. and CARROS, France, May 28, 2013 (GLOBE NEWSWIRE) -- NovaBay Pharmaceuticals, Inc., (NYSE:NBY), a clinical-stage biotechnology company focused on the topical, anti-infective market, today entered into a collaboration and license agreement with Virbac (NYSE Euronext:VIRP), a global veterinary product company. Virbac exercised its March 2012 Feasibility and Option Agreement, thereby acquiring exclusive worldwide rights to develop NovaBay's proprietary compound, auriclosene (NVC-422), for global veterinary markets. NovaBay will receive an option exercise fee as well as development and pre-commercial milestone payments as a result of the collaboration. NovaBay also expects to receive royalties on the sale of any commercial products in the companion animal field. Virbac's option exercise follows its extensive testing of auriclosene for veterinary uses during the 12-month option period.
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