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NovaBay Pharmaceuticals closes acquisition of Dermadoctor

November 8, 2021 By Sean Whooley

NovaBay PharmaceuticalsNovaBay Pharmaceuticals (NYSE:NBY) announced today that it closed its previously announced acquisition of skincare treatment developer Dermadoctor.

Emeryville, California-based NovaBay develops the Avenova antimicrobial lid and lash spray, the CelleRx clinical reset and the NeutroPhase skin and wound cleanser for wound healing, all formulated with its patented, pure, stable, pharmaceutical-grade hypochlorous acid.

In September, the company agreed to acquire Dermadoctor for an undisclosed amount, contingent upon the completion of a fundraising round that delivered sufficient capital to finance the purchase price. One week ago, the company confirmed its entry into a securities purchase agreement worth proceeds of approximately $15 million, with the money earmarked to partially fund the acquisition.

NovaBay was advised in the acquisition by Two Roads Advisors.

“Now that we have officially closed on the acquisition, it is time to start realizing synergies and growing our combined businesses. On our conference call later this week we will discuss the many benefits we see from the Dermadoctor acquisition in addition to detailing our third-quarter financial results,” NovaBay CEO Justin Hall said in a news release. “The timing of this earnings call allows us to recap recent accomplishments and share some detail on our strategic vision going forward.”

Filed Under: Business/Financial News, Drug-Device Combinations, Featured, Materials Testing, Optical/Ophthalmic, Pharmaceuticals, Wound Care Tagged With: Dermadoctor, novabay

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About Sean Whooley

Sean Whooley is an associate editor who mainly produces work for MassDevice, Medical Design & Outsourcing and Drug Delivery Business News. He received a bachelor's degree in multiplatform journalism from the University of Maryland, College Park. You can connect with him on LinkedIn or email him at swhooley@wtwhmedia.com.

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