• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • Advertise
  • Subscribe

Drug Delivery Business

  • Clinical Trials
  • Research & Development
  • Drug-Device Combinations
  • FDA
  • Pharmaceuticals
  • Policy

NovaBay raises $6m in private placement

February 12, 2018 By Sarah Faulkner

NovaBay Pharmaceuticals (NYSE:NBY) has raised nearly $6 million after selling 1.7 million shares of common stock to OP Financial Investments Ltd., an institutional investor listed on the Hong Kong stock exchange.

The Emeryville, Calif.-based company is developing non-antibiotic products for the topical anti-infective market. Its Avenova product is designed for the removal of microorganisms and debris on and around the eyelid.

“We believe our investment in NovaBay provides OP Financial with unique insight and fresh experience in drug commercialization, as well as an opportunity to become more familiar with the U.S. pharmaceutical industry,” OP Financial CEO Zhang Gaobo said in prepared remarks.

“China Kington is proud to be the financial partner of NovaBay and this transaction aligns with our commitment to connect U.S. public companies with the financial resources in China and Hong Kong,” Eric Wu, a partner at China Kington Asset Managment Co. (which served as the placement agent for the private placement), added. “We will continue to play an active role between U.S. biopharmaceutical companies and China’s financial market.”

“We are pleased to complete this financing on favorable terms to NovaBay with an investor that shares our focus on the significant long-term potential of Avenova,” NovaBay chairman, president & CEO, Mark Sieczkarek said.

“While our previously announced $10.32 million private placement with Ch-gemstone Capital expired due to an issue with foreign investments by Chinese funds, we are pleased to offer this opportunity to OP Financial and are delighted to welcome them as a new shareholder. We thank China Kington for its continued commitment to our success.”

NBY shares were trading at $3.75 apiece in mid-afternoon activity today, up 4.8%.

Want to stay on top of DDBN content? Sign up for our e-mail newsletter for a weekly dose of drug-device news.

Filed Under: Featured, Funding Roundup, Optical/Ophthalmic, Pharmaceuticals, Wall Street Beat Tagged With: novabay

IN CASE YOU MISSED IT

  • Medtronic Diabetes names CFO with consumer experience ahead of separation
  • Diabeloop launches insulin delivery algorithm in Germany
  • GlucoModicum has positive data for needle-free CGM
  • Lifecare takes next steps in CGM implant development
  • Ypsomed brings autoinjector for dual GCG/GLP-1 delivery to China

Primary Sidebar

“ddb
EXPAND YOUR KNOWLEDGE AND STAY CONNECTED
Get the latest news and trends happening now in drug delivery.

MEDTECH 100 INDEX

Medtech 100 logo
Market Summary > Current Price
The MedTech 100 is a financial index calculated using the BIG100 companies covered in Medical Design and Outsourcing.

Footer

Drug Delivery Business News Logo

MassDevice Medical NETWORK

MassDevice
DeviceTalks
Medical Tubing + Extrusion
Medical Design & Outsourcing
MedTech100 Index
Drug Discovery & Development
Pharmaceutical Processing World
Medical Design Sourcing
R&D World

DRUG DELIVERY BUSINESS NEWS

Subscribe to Drug Delivery’s E-Newsletter
Advertise with us
About
Contact us
Privacy
Listen to our Weekly Podcasts

Copyright © 2025 · WTWH Media LLC and its licensors. All rights reserved.
The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of WTWH Media.

Privacy Policy | RSS