NovaBay Pharmaceuticals Launches Avenova® Eye Health Support, a New Antioxidant-Rich Oral Supplement to Comfort Dry Eyes and Promote Overall Eye Health

Rhea-AI Summary

NovaBay Pharmaceuticals (NBY) has launched Avenova Eye Health Support, an OTC oral supplement designed to alleviate dry eye symptoms. This product uniquely combines MaquiBright, an antioxidant-rich extract from maqui berries, with high-quality omega-3 oils. The supplement is available in 60 softgel capsules for $41.95 on platforms like Amazon and Avenova.com.

Clinical studies indicate that participants experienced an 89% increase in tear production and a 57% improvement in discomfort after four weeks of use. The global dry eye market is projected to grow at 5% annually, nearing $9 billion by 2030.

Positive

• Launch of a unique OTC supplement for dry eyes.
• Clinical study shows 89% increase in tear production.
• Potential growth market in dry eye products with a projected value of $9 billion by 2030.

Negative

• None.

Avenova Eye Health Support expands the Avenova dry eye product line with a differentiated product combining high-quality, concentrated omega-3 oils with the unique nutrient-rich antioxidant maqui berry

EMERYVILLE, Calif.--(BUSINESS WIRE)-- NovaBay^® Pharmaceuticals, Inc. (NYSE American: NBY) announces the launch of OTC Avenova Eye Health Support oral supplement featuring a combination of MaquiBright^®, a nutrient-rich, antioxidant-dense extract of the superfruit maqui berry, and high quality, natural triglyceride omega-3 oils to comfort dry eyes and support overall eye health.

Avenova Eye Health Support Oral Supplement with MaquiBright® (Photo: Business Wire)

Avenova Eye Health Support is sold as 60 easy-to-swallow softgel capsules (30-day supply) and is available at Amazon.com and Avenova.com for $41.95, and through optometrist offices participating in NovaBay’s physician-dispensed channel.

“Our eyes are under more stress than ever with increasing computer screen time, air pollution and indoor heating and cooling, all of which can lead to dry eye and eye fatigue. In fact, up to 49 million Americans suffer from dry eyes and the global market for dry eye products is expected to grow at 5% annually, reaching nearly $9 billion by 2030,” said Justin Hall, NovaBay CEO. “We’re excited to offer a unique eye health supplement that has the potent maqui berry extract, which has three-times the antioxidant level of blueberries and is found only in the forests of Patagonia. This product is unique in the marketplace and the clinical effects of the maqui berry extract are impressive.”

Participants in a four-week, randomized, double-blind, placebo-controlled study on the effects of MaquiBright^® extract showed an 89% increase in tear production and reported a 57% improvement in dry eye discomfort with Avenova Eye Health Support. Study results were published in the peer-reviewed Journal of Traditional and Complementary Medicine.

“Avenova Eye Health Support is another example of NovaBay being at the forefront of innovation in the eyecare category as we continue expanding our portfolio of evidence-led, differentiated, superior-quality and highly effective eyecare products,” he added. “Consumers and eyecare professionals alike now have another Avenova product to address the multifactorial and complex condition of dry eyes.”

The oral supplement is the latest addition to Avenova’s portfolio of scientifically developed eyecare products targeting the dry eye market. With the strategic addition of an oral supplement, the Avenova brand now offers a best-in-class product for each step of the standard dry-eye treatment regimen: Avenova antimicrobial lid and lash spray for cleansing, lubricating eye drops for instant relief, a warm eye compress to soothe, a dietary supplement of omega-3 oils, and the i-Chek to monitor physical eyelid health. All Avenova products are available directly to consumers through online distribution channels such as Amazon and Avenova.com.

About NovaBay Pharmaceuticals, Inc.

NovaBay Pharmaceuticals, Inc. develops and sells scientifically created and clinically proven eyecare and skincare products. DERMAdoctor^® offers more than 30 OTC dermatologist-developed skincare products through the DERMAdoctor website, well-known traditional and digital beauty retailers, and international distributors. NovaBay also manufactures and sells effective, yet gentle and non-irritating wound care products. The PhaseOne^® brand is distributed through commercial partners in the U.S. for professional use only, and the NeutroPhase^® brand is distributed in China by Pioneer Pharma (Hong Kong) Company Ltd.

NovaBay Pharmaceuticals Forward-Looking Statements

Except for historical information herein, matters set forth in this press release may be forward looking within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, including statements about the commercial progress and future financial performance of NovaBay Pharmaceuticals, Inc. This release contains forward-looking statements that are based upon management’s current expectations, assumptions, estimates, projections and beliefs. These statements include, but are not limited to, statements regarding our business strategies, current partnerships, marketing efforts, and any future revenue that may result from such partnerships and related marketing initiatives, as well as generally the Company’s expected future financial results. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or achievements to be materially different and adverse from those expressed in or implied by the forward-looking statements. Factors that might cause or contribute to such differences include, but are not limited to, risks and uncertainties relating to the size of the potential market for our products, the possibility that the available market for the Company’s products will not be as large as expected, the Company’s products will not be able to penetrate one or more targeted markets, and revenues will not be sufficient to meet the Company’s cash needs. Other risks relating to NovaBay’s business, including risks that could cause results to differ materially from those projected in the forward-looking statements in this press release, are detailed in NovaBay’s latest Form 10-Q/K filings and Registration Statement on Form S-1 filing with the Securities and Exchange Commission, especially under the heading “Risk Factors.” The forward-looking statements in this release speak only as of this date, and NovaBay disclaims any intent or obligation to revise or update publicly any forward-looking statement except as required by law.

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Avenova Purchasing Information
For NovaBay Avenova purchasing information:
Please call 800-890-0329 or email sales@avenova.com
Avenova.com

DERMAdoctor Purchasing Information
For DERMAdoctor purchasing information:
Please call 877-337-6237 or email service@dermadoctor.com
DERMAdoctor.com

View source version on businesswire.com: https://www.businesswire.com/news/home/20230307005090/en/

NovaBay Contact

Justin Hall

Chief Executive Officer and General Counsel

510-899-8800

jhall@novabay.com

Investor Contact

LHA Investor Relations

Jody Cain

310-691-7100

jcain@lhai.com

Source: NovaBay Pharmaceuticals, Inc.

FAQ

What is the Avenova Eye Health Support supplement?

Avenova Eye Health Support is an OTC oral supplement designed to alleviate dry eye symptoms, combining MaquiBright extract and omega-3 oils.

What are the benefits of Avenova Eye Health Support?

Clinical studies show it can increase tear production by 89% and improve dry eye discomfort by 57%.

Where can I purchase Avenova Eye Health Support?

The supplement is available on Amazon and Avenova.com for $41.95.

What is the market growth for dry eye products?

The global market for dry eye products is expected to grow at 5% annually, reaching nearly $9 billion by 2030.

What does MaquiBright extract do?

MaquiBright extract is an antioxidant-rich component derived from maqui berries, aimed at improving eye health and reducing dry eye symptoms.