NovaBay Pharmaceuticals, Inc. (formerly known as NovaCal Pharmaceuticals, Inc.)’s NVC-422 Cleared by FDA for Human Clinical Trials in Ophthalmology

EMERYVILLE, Calif.--(BUSINESS WIRE)--NovaBay Pharmaceuticals, Inc. (AMEX: NBY, www.novabaypharma.com), announces the clearance of an Investigational New Drug application (IND) submitted by Alcon to the FDA to permit the clinical development of NovaBay’s NVC-422 for infections of the eye. The IND clearance has triggered the immediate payment of the first milestone of $1,000,000 from Alcon to NovaBay.