NovaBay Pharmaceuticals and Eyenovia Commence Co-Promotion Activities

NovaBay Pharmaceuticals, Inc. (NYSE American: NBY), a company developing and commercializing high-quality eyecare products, and Eyenovia, Inc. (NASDAQ: EYEN), a commercial-stage ophthalmic company with two FDA-approved products and a late-stage asset in pediatric progressive myopia, have commenced activities under a previously announced co-promotion agreement.

Under the agreement, Eyenovia is leveraging its ten-person field salesforce to promote NovaBay’s Avenova Antimicrobial Lid & Lash Solution to large ophthalmic surgery centers along with one of Eyenovia’s other FDA-approved products, MydCombi for mydriasis. In parallel, NovaBay has initiated reconnaissance and market preparation activities ahead of Eyenovia’s launch of Clobetasol Propionate Ophthalmic Suspension, 0.05%, an innovative, rapid, sustained and more convenient solution for the treatment of postoperative inflammation and pain. Clobetasol is expected to be commercially available in August 2024. NovaBay will conduct outreach through its telephone-based physician dispensed channel to supplement geographic areas not covered by Eyenovia.

“We are excited the Eyenovia team is now selling prescription Avenova and look forward to offering Clobetasol as a complementary product to our nationwide established network of thousands of eyecare professionals,” said Justin Hall, CEO of NovaBay. “This partnership is a cost-efficient means of generating greater awareness among eyecare professionals for both companies’ products and provides an opportunity for us to further build our physician dispensed channel by promoting the first new ophthalmic steroid to enter the U.S. market in more than 15 years.”

“Avenova is long established as the leading doctor-recommended hypochlorous-based lid and lash spray, making it ideal for our highly differentiated prescription ophthalmic product portfolio,” stated Michael Rowe, CEO of Eyenovia. “We are delighted to offer this complementary, high-quality product through our sales team and to strengthen relationships with eyecare professionals prior to Clobetasol’s launch later this summer.”

Prescription Avenova is available through EyenoviaRx.com and Avenova.com. The non-prescription product is available directly to consumers through Amazon.com and other retailers.

About Clobetasol Propionate Ophthalmic Suspension, 0.05%
Clobetasol, developed by Formosa Pharmaceuticals, was granted U.S. Food and Drug Administration (FDA) approval on March 4, 2024, based on clinical results showing nearly nine out of ten patients achieving complete absence of post-surgical pain and six out of ten achieving total absence of inflammation within 15 days post-ocular surgery. Eyenovia acquired the U.S. commercial rights to Clobetasol from Formosa Pharmaceuticals in August 2023. Clobetasol offers a convenient dosing regimen of one drop, twice daily for two weeks, whereas most other post-surgical eye drops for the treatment of pain and inflammation are dosed up to four times each day.