Emeryville, CA-based NovaBay Pharmaceuticals has forged a development pact with Galderma that will be worth up to $50 million in milestone payments. The development and commercialization pact covers NovaBay's Aganocide compounds and covers all major dermatological conditions, excluding onychomycosis--nail fungus--and orphan drug indications.
"This agreement highlights Galderma's commitment to the future of dermatology. Aganocide compounds have the potential to bring about significant progress in the treatment of skin diseases which affect millions of patients, without adding to the growing problem of antibiotic resistance," said Galderma CEO Humberto C. Antunes.
In the deal, Galderma takes responsibility for the development costs of the acne and other indications, except in Japan, and for the ongoing development program for impetigo, upon the achievement of a specified milestone. Galderma will reimburse NovaBay for the use of its personnel supporting the collaboration. NovaBay retains the right to co-market products resulting from the agreement in Japan. In addition, NovaBay has retained all rights in other Asian markets outside Japan, and has exclusive rights to promote the products developed under the agreement in the hospital and other healthcare institutions in North America.
Galderma was created in 1981 as a joint venture between Nestlé and L'Oréal.
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