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NovaBay, Alcon terminate collaboration agreement

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EMERYVILLE, Calif. — NovaBay Pharmaceuticals has regained worldwide rights to its proprietary anti-infective compounds following the termination of a collaboration and license agreement with Alcon, the company announced in a press release.

Aganocide compounds are used for the topical treatment and prevention of antibiotic-resistant infections. Under the terms of the agreement, Alcon will return the worldwide technology license for the lead compound NVC-422, as well as back-up compounds, the release said.

Rights to all previously licensed areas in ophthalmic, otic and sinus applications will also be returned to NovaBay, and all regulatory filings made by Alcon will be transferred to NovaBay.

Alcon will pay NovaBay $2.97 million for a termination fee, final reimbursement for research and development, and personnel costs related to the collaboration.