Executive With Three Decades of Experience in Medical Products Industry to Oversee NovaBay's Commercial Launch of NeutroPhase®
EMERYVILLE, Calif., Sept. 28, 2011 (GLOBE NEWSWIRE) -- NovaBay® Pharmaceuticals, Inc. (NYSE Amex:NBY), a clinical-stage biotechnology company developing its first-in-class, anti-infective Aganocide® compounds for the local non-systemic treatment and prevention of antibiotic-resistant infections, has named Russell A. Hoon as Vice President of its Advanced Wound Care business unit.
Mr. Hoon comes to NovaBay Pharmaceuticals with more than three decades of experience in medical product development, sales, marketing and management. Prior to his arrival at NovaBay, he served as President of Hoon Consulting, where he assisted biomedical and medical device manufacturers with strategies for bringing new products to market. From 1998 to 2008 he served initially as Vice President of Business Development and subsequently as President and Chief Operating Officer of Xylos Corporation, an early-phase medical device manufacturer specializing in biosynthesized (microbial) cellulose polymers. His accomplishments at Xylos included directing the company from initial start-up through revenue production, conception and design of the surgical products platform, coordination of preclinical and clinical trials and leading the development and launch of the Company's advanced wound care product line. Mr. Hoon has also been awarded a patent related to the processing of microbial cellulose which led to the realization of the surgical products platform at Xylos. Mr. Hoon earlier served in a range of positions at various companies including Director of Marketing/Sales Business Development at Tutogen Medical Inc., and as Marketing Manager at Integra LifeSciences.
Mr. Hoon stated: "NovaBay Pharmaceuticals continues to advance its NeutroPhase solution into wound care applications. I have witnessed the need to develop new innovative treatments grow ever more urgent, and I believe this demand will continue to increase in the years to come. NovaBay is uniquely positioned to satisfy this need with NeutroPhase, which I believe could have strong market potential both in the US and abroad. I look forward to serving as Vice President of this unit and working with NovaBay's management as the company moves ahead with commercialization."
Ron Najafi, Ph.D., Chief Executive Officer of NovaBay, stated: "Russ brings significant experience to NovaBay, and he shares our vision for the future of NovaBay's wound care and hospital business unit. His track record of development, sales, marketing and management within the medical products industry is extraordinary, and we look forward to working with him as we focus on bringing advanced wound care products to market."
About NovaBay Pharmaceuticals, Inc.
NovaBay Pharmaceuticals is a clinical-stage biotechnology company focused on developing its proprietary and patented Aganocide compounds. These are novel, synthetic anti-infectives with activity against bacteria, fungi and viruses, and are being developed to treat and prevent a wide range of local, non-systemic infections with a low likelihood of developing bacterial resistance.
NovaBay is focusing its technology on four distinct therapeutic areas: dermatology, ophthalmology, urology and hospital infections. In dermatology, the focus is on developing an NVC-422 gel formulation for the highly contagious skin infection of impetigo. NovaBay has the advantage of being partnered with Galderma, the leading dermatology company in the world. In ophthalmology, the goal is to develop an eye drop for viral conjunctivitis. In urology, NovaBay aims to reduce the incidence of urinary catheter blockage and encrustation (UCBE) and the potential for urinary tract infections with an irrigation solution containing NVC-422. In hospital infection, NovaBay is targeting the six-million-patient market of chronic non-healing wounds, such as pressure, venous stasis and diabetic ulcers with its proprietary anti-infective solution, NeutroPhase®, which has received two 510(k) clearances from the Food and Drug Administration. For additional information, visit www.novabaypharma.com.
Cautionary Information Regarding Forward-Looking Statements
The statements in this press release regarding NovaBay Pharmaceuticals' expectation on the advancement of NovaBay's NeutroPhase solution into wound care application; NeutroPhase strong market potential both in the US and abroad and the potential of NovaBay's wound care business unit are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The forward- looking statements reflect the views of the management of NovaBay as of the date of this press release and are based on assumptions and subject to significant risks and uncertainties (many of which are outside of NovaBay's control), including: the risk that NovaBay's Aganocide compounds may not prove to be effective in treating wounds; the risks that results obtained in animal models may not be obtained in humans; the risk that results obtained in pre-clinical studies may not be obtained in clinical studies, and inherent risks and uncertainties relating to difficulties or delays in conducting clinical trials, as well as other risks relating to NovaBay and its Aganocide compounds detailed in NovaBay's Quarterly Report on Form 10-Q, under the caption "Risk Factors" in Item 1A of Part II of that report, which was filed with the Securities and Exchange Commission on August 10, 2011. 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.