NovaBay Pharmaceuticals, Inc. announced the commercial launch of Avenova Allograft to eyecare professionals across the U.S. through its physician-dispensed channel.
This prescription product is the only optic allograft manufactured using BioStem Technologies, Inc.’s proprietary process and is intended for use as a protective covering during the repair of ocular surfaces.
The product launch follows a previously announced agreement under which NovaBay was granted the right to commercialize BioStem Technologies’ Amniotic Tissue Allograft under the Avenova brand.
The Avenova Allograft will compete in the global ophthalmology amniotic membrane market estimated at $403.6 million in 2022, which is expected to grow at 9.8% per year between 2023-2030.
“Avenova Allograft is a valuable addition to our high-quality, differentiated eyecare franchise and allows us to provide another solution for the professionals who specialize in treating eye conditions,” said Justin Hall, CEO and general counsel of NovaBay. “We have fostered strong relationships with eyecare professionals nationwide including thousands of optometrists and ophthalmologists who recommend, prescribe, and sell Avenova-branded products every day. Sales in our physician-dispensed channel continue to grow, providing us with a terrific platform to launch this innovative product.”
The Avenova Allograft provides a protective environment or covering for repair of the cornea and conjunctiva, helping ocular surface to return to a healthier state.
Using its patented six-step BioREtain process that preserves the natural integrity of the placental tissue, BioStem Technologies will be responsible for manufacturing, packaging, shipping and regulatory compliance. The product consists only of the amnion layer of the placental membrane and measures between 20-50 microns thick, making it ideal for delicate ophthalmic applications. Avenova Allograft is available in 8mm, 10mm and 12mm diameter sizes.
NovaBay’s commercial launch of Avenova Allograft includes outreach programs aimed at educating eyecare specialists on both the clinical benefits of the product, as well as the process for Medicare reimbursement. Clinics can order Avenova Allograft now directly on Avenova.com.
“We are excited to partner with NovaBay, which shares our commitment to commercializing innovative, best-in-class products that improve people’s quality of life,” said Jason Matuszewski, CEO of BioStem Technologies. “This relationship allows us to capitalize on NovaBay’s well-established relationships in the eyecare sector as we focus on additional market opportunities for tissue allograft products.”
In addition to the new allograft product, NovaBay’s Avenova suite of products include Avenova antimicrobial lid and lash spray, specially designed dry wipes, lubricating eye drops, a warm eye compress, oral supplements and the i-Chek mirror to monitor physical eyelid health.