In any event Hi-media aims to maintain a net debt/EBITDA ratio of less than2
In any event, Hi-media aims to maintain a net debt/EBITDA ratio of less than2.5x. The Group has also obtained a commitment from AdLINK Internet Media tosubscribe, in proportion of its stake, to any increase in capital Hi-mediamight decide to engage in. In the case that such capital increase is made whenshare price is below 3.63 euros, AdLINK Internet Media commits to subscribe toan amount of 12.2 million euros at a share price of price of 3.63 euros pershare. for use of its Aganocide® compounds to treat eye, ear and sinusinfections as well as in contact lens care solutions NovaBay has also enteredinto an agreement with Galderma S.A.
to develop and commercialize Aganocides inacne, impetigo and other dermatological indications. NovaBay® and Aganocide® aretrademarks of NovaBay Pharmaceuticals, Inc. For more information on NovaBay,visit: Forward-Looking StatementsThe statements in this press release regarding NovaBay`s and Alcon`sexpectations regarding the clinical trial and the potential efficacy ofAganocide® compounds are forward-looking statements within the meaning of thePrivate Securities Litigation Reform Act of 1995. NovaBay hasinternal development programs aimed at addressing hospital and respiratoryinfections. For more information on Alcon, Inc., visit theCompany's web site at About NovaBayNovaBay Pharmaceuticals is a mid-stage biopharmaceutical company focused ondeveloping its proprietary and patented Aganocide® compounds, which are novel,synthetic anti-infective product candidates that are bioequivalent to the activeantimicrobial molecules generated within white blood cells to treat and preventa wide range of infections without causing bacterial resistance. The company has a licensing and research collaboration agreementwith Alcon, Inc. Aganocides have a broad therapeutic index while providing a highdegree of potency, good tolerability as well as dosing versatility andflexibility About AlconAlcon, Inc.
is the world's leading eye care company, with sales of approximately$6.3 billion in 2008. Alcon, which has been dedicated to the ophthalmic industryfor more than 65 years, researches, develops, manufactures and marketspharmaceutical products, surgical equipment and devices, contact lens caresolutions and other vision care products that treat diseases, disorders andother conditions of the eye. Inpreclinical testing, the Aganocide® compounds have been shown to be highlyeffective against bacteria, viruses and fungi. They also have been demonstratedto be effective against bacteria in biofilms, which render most antibioticsineffective.
The Aganocide® compounds maintain thebiological activities while improving the stability of naturally occurringN-chlorinated antimicrobial molecules. These highly differentiated compounds maydeliver the same or better efficacy than currently used antibiotics withoutcontributing to the growing rise of antibiotic-resistant bacterial strains. Regular innovation to develop newer antibiotics isrequired because over time antibiotics may encounter increasing bacterialresistance. About Aganocide® CompoundsThe Aganocide® compounds are novel, proprietary, synthetic N-chlorinatedantimicrobial molecules specifically developed by NovaBay to mimic the body`snatural defense against infection. Bacterial conjunctivitis is causedby a variety of bacteria and is largely treated with topically appliedantibiotic eye drops. The viral disease is principally causedby adenoviruses, but also can be caused by other viruses, such as enterovirus.There is no specific treatment for adenoviral conjunctivitis, which can take upto three weeks or longer to clear on its own.
Dual action against viral and bacterial conjunctivitis isimportant because when an infection is diagnosed it is difficult, time-consumingand expensive to determine the underlying cause of the infection and treat itproperly," said Dr. Sabri Markabi, M.D., Alcon`s senior vice president ofresearch and development and chief medical officer. About ConjunctivitisConjunctivitis, which can result from either viral or bacterial infection, is aninflammation of the thin, clear tissue that covers the white part of the eye andforms the inside lining of the eyelid. The study calls for enrolling approximately 250 patients at morethan 30 medical centers, mostly in the United States. "This study is an important step forward with the clinical program for thispotentially dual-acting therapy to address the multiple causes ofconjunctivitis. "This is the first step in the ophthalmic clinical development programfor NVC-422, which has the immediate goal of developing the first effectiveproduct to address viral conjunctivitis for which there are limited treatmentoptions." The Phase 2 multi-center, randomized, placebo-controlled trial is designed todetermine the safety and efficacy of NVC-422 in people with viralconjunctivitis. Developed by NovaBay to mimic the body`s defense against infection, Aganocides®are proprietary synthetic analogs of the same molecules used by white bloodcells to destroy harmful microbes in the body, such as viruses and bacteria.Because of their natural mechanism of action, NovaBay believes that Aganocide®compounds have a low potential for generating microbial resistance, offering apotential solution to the problem of rising resistance of microbes totraditional antibiotics.