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NovaBay receives additional $1.5M equity funding from Pioneer Pharma

NovaBay Pharmaceuticals announced the receipt of a $1.5M 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 Sept. 14, Pioneer has completed its investment of $2.5M. Pioneer has the right to invest an additional $3.0M on or before Aug. 31, 2013.