NovaBay Pharmaceuticals, Inc. Receives Additional $1.5 Million Equity Funding From Pioneer Pharma Co., Ltd.
11/5/2012 9:31:08 AM
EMERYVILLE, Calif., Nov. 5, 2012 (GLOBE NEWSWIRE) -- NovaBay® Pharmaceuticals, Inc. (NYSE:NBY), today announced the receipt of a $1.5 million equity investment from Pioneer Pharma (Singapore) Pte. Ltd., an affiliate of Naqu Area Pioneer Pharma Co., Ltd., a Shanghai-based company that markets high-end pharmaceutical products into China. As part of the expansion of the NeutroPhase distribution agreement for Southeast Asia announced on September 14, 2012, Pioneer has completed its investment of $2.5 million. Pioneer has the right to invest an additional $3.0 Million on or before August 31, 2013.