NovaBay Pharmaceuticals Prices Initial Public Offering of Common Stock



    EMERYVILLE, Calif., Oct. 25 /CNW/ -- NovaBay Pharmaceuticals, Inc. (Amex,
TSX: NBY) today announced the pricing of its initial public offering of
5,000,000 shares of its common stock at a price to the public of U.S. $4.00
per share.  NovaBay has granted to the underwriters a 30-day option to
purchase up to an additional 750,000 shares at the initial public offering
price to cover over-allotments, if any.  The shares will commence trading on
October 26, 2007 on the American Stock Exchange and on an "if, as and when
issued" basis on the Toronto Stock Exchange, under the symbol "NBY".  The
offering is expected to close on or about October 31, 2007.
    Dundee Securities Corporation is acting as the sole book runner for the
offering, with Desjardins Securities Inc. as co-lead manager.  The shares are
being offered in Canada by an underwriting syndicate co-led by Dundee
Securities Corporation and Desjardins Securities Inc. and including Blackmont
Capital Inc., and in the United States by Dundee Securities Inc. and Dawson
James Securities, Inc.
    The offering is being made in the United States pursuant to a written
prospectus forming a part of the registration statement relating to these
securities, which was declared effective by the Securities and Exchange
Commission on October 24, 2007, and in Canada pursuant to a final base PREP
prospectus dated October 24, 2007 for which a receipt has been issued by the
applicable Canadian securities regulatory authorities and which shall be
supplemented by a supplemented PREP prospectus.  This press release shall not
constitute an offer to sell or the solicitation of an offer to buy these
securities, and there shall be no sale of these securities in any state,
province or jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the securities laws of
any such state, province or jurisdiction.
    Copies of the United States prospectus may be obtained from Dawson James
Securities, Inc., Attn: Investment Banking, 925 South Federal Highway, 6th
Floor, Boca Raton, FL 33432, telephone number (866) 928-0928.  Copies of the
Canadian prospectus may be obtained from Dundee Securities Corporation, 1
Adelaide St. E., Suite 2700, Toronto, Ontario M4T 1J9; Attn: Equity Capital
Markets, E-mail: ecm@dundeesecurities.com.
    
    About NovaBay
    
    NovaBay Pharmaceuticals, Inc. is a biopharmaceutical company focused on
developing innovative product candidates targeting the treatment or prevention
of a wide range of infections in hospital and non-hospital environments.
NovaBay has discovered and is developing a class of antimicrobial compounds,
which it has named Aganocide compounds, which are based upon small molecules
that are generated by white blood cells that defend the body against invading
pathogens.  NovaBay believes that Aganocide compounds could form a platform on
which to create a variety of products to address differing needs in the
treatment and prevention of bacterial and viral infections, including
Methicillin-Resistant Staphylococcus aureus (MRSA).  NovaBay has entered into
a licensing and research collaboration agreement with an affiliate of Alcon,
Inc. for use of the Aganocide compounds in the eye, ear and sinus and in
contact lens solutions and a license agreement with an affiliate of Kinetic
Concepts, Inc. for the use of NovaBay's NeutroPhase product in woundcare
applications.
    NovaBay(TM), Aganocide(TM) and NeutroPhase(TM) are trademarks of NovaBay
Pharmacuticals, Inc.  All other trademarks and trade names are the property of
their respective owners.
    
    Safe Harbor Statement
    
    This release contains forward-looking statements, which are based upon
management's current expectations, assumptions, estimates, projections and
beliefs.  These statements include, but are not limited to, statements
regarding the development and potential benefits of, and the market
opportunities for, NovaBay's product candidates.  Forward-looking 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 difficulties or delays in
discovery, development, testing, regulatory approval, production and marketing
of the company's product candidates, unexpected adverse side effects or
inadequate therapeutic efficacy of the product candidates, the uncertainty of
patent protection for the company's intellectual property or trade secrets,
the company's ability to obtain additional financing as necessary and
unanticipated research and development and other costs.  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.




For further information:

For further information: Jack O'Reilly, Chief Financial Officer, or 
Theresa Granados, Investor Relations, +1-510-899-8800, 
investorrelations@novabaypharma.com, both of NovaBay Pharmaceuticals, Inc. Web
Site: http://www.novacal.com/

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NOVABAY PHARMACEUTICALS, INC.

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