CEO Cites Growing Crisis
EMERYVILLE, Calif., June 17, 2013 (GLOBE NEWSWIRE) -- Dr. Ron Najafi, Chairman and Chief Executive Officer of NovaBay Pharmaceuticals, Inc. (NYSE:NBY) today announced NovaBay's support for legislation by U.S. Rep. Jim Matheson (D-UT) to attack the growing crisis of antibiotic resistance. NovaBay is a biotechnology company focused on addressing the large unmet therapeutic needs of the global anti-infective market with first-in-class compounds such as its proprietary Aganocides®.
"NovaBay believes that there must be a multi-pronged, comprehensive approach to combating antimicrobial resistance and Rep. Matheson's bill is an important contribution," Dr. Najafi said. "We've reached a critical tipping point where we must replace antibiotics, whenever possible, with safe and effective alternatives that kill bacteria without developing resistance. "
The Strategies to Address Antimicrobial Resistance (STAAR) Act, H.R. 2285, is aimed at improving the understanding and monitoring of the cause and spread of antimicrobial resistant infections and improving antibiotic development, Matheson said.
"Antimicrobial resistance is often caused by the overuse of antibiotics. My bill addresses this problem by calling for data collection on antibiotic use as well as research to combat so-called 'superbugs,'" Matheson said.
In the policy arena, NovaBay advocates for:
- The elimination of tons of antibiotic that is used as livestock feed additive and which alone account for 80% of all antibiotics used and thrown away into our environment;
- Developing non-antibiotic antimicrobial technologies with low probability of developing resistance and which would have the strong potential of replacing the antibiotics currently in use;
- Rapid identification of bacteria so that the proper antibiotic can be prescribed and, when antibiotics are necessary, using the best practices to avoid generating resistant bacteria and transmitting them from one patient to another, and;
- Proper disposal of leftover antibiotics and preventing them from getting into our landfills and sewers, which are brewing ground for antibiotic resistant bacteria.
NovaBay is committed to attacking the proliferation of antibiotic-resistant organisms through its pipeline of topical antimicrobial products that mimic the body's white blood cell mechanisms for fighting infection.
NovaBay's Aganocide compounds are based on the human body's natural immune system and the molecules involved in combating infections. Once pathogens penetrate the body's primary defense, the next line of defense is provided by the white blood cells. NovaBay has focused on understanding these molecules. The Company has chemically modified these molecules and synthesized new, stable molecules that retain the activity of the natural compound and allow these compounds to be developed as therapeutic topical products.
About NovaBay Pharmaceuticals, Inc.
Going Beyond Antibiotics
NovaBay Pharmaceuticals is a biotechnology company focused on addressing the large unmet therapeutic needs of the global, topical anti-infective market with auriclosene. The Company's four core business units – DermaBay, UroBay, EyeBay and MediBay – are developing products in dermatology, urology, ophthalmology, and wound care areas.
NovaBay's first-in-class Aganocide compounds, led by auriclosene, are patented, topical antimicrobials with a broad spectrum of activity against bacteria, viruses and fungi. Mimicking the mechanism of action that human white blood cells use against infections, Aganocides are not subject to bacterial or fungal resistance, which has been demonstrated in in vitro and in vivo studies. Having demonstrated clinical efficacy in Phase 2 proof-of-concept clinical studies, auriclosene has the potential to treat a wide range of local, non-systemic infections.
This release contains forward-looking statements, which are based upon management's current expectations, assumptions, estimates, projections and beliefs. These statements include, but are not limited to, statements regarding the expected timing of enrollment and commencement of clinical trials, expected timing of announcement of results of clinical studies, and expected future financial results. The words "continued," "expected," "will be," "believe", "expect", "anticipate", "would," "planning" and other words (and all variations of these words that imply future events), identify these statements as forward looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results or achievements to be materially different from those expressed in or implied by the forward-looking statements. Factors that might cause or contribute to such differences include, but are not limited to, risks and uncertainties relating to difficulties or delays in development, clinical trial, regulatory approval, production and marketing of the company's product candidates, unexpected adverse side effects or inadequate therapeutic efficacy of the product candidates, the uncertainty of patent protection for the company's intellectual property or trade secrets, the company's ability to obtain additional financing as necessary and unanticipated research and development and other costs. These risks and others are detailed in NovaBay's latest Form 10-K and Form 10-Q filings with the Securities and Exchange Commission, especially under the heading "Risk Factors." The forward-looking statements in this release speak only as of this date, and NovaBay disclaims any intent or obligation to revise or update publicly any forward-looking statement except as required by law.
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CONTACT: NovaBay Pharmaceuticals Contacts Thomas J. Paulson Chief Financial Officer 510-899-8809 email@example.com Ana Kapor Director, Investor Relations and Corporate Communications NovaBay Pharmaceuticals, Inc. 510-899-8889 firstname.lastname@example.orgSource:NovaBay Pharmaceuticals, Inc.