Alliqua BioMedical, Inc. Announces Closing Asset Sale to Celularity Inc.
07 Mayo 2018 - 3:15PM
Alliqua to return capital to shareholders
Alliqua BioMedical, Inc. (Nasdaq:ALQA) ("Alliqua" or "the
Company"), a provider of advanced wound care products, today
announced that it has completed its previously announced asset sale
to Celularity Inc. of its property, assets and rights relating to
the Company’s advanced biologic wound care business, UltraMist®
Therapy System and other therapeutic ultrasound platform products.
“We are excited about the completion of the
transaction, which will now allow Alliqua to focus on maximizing
the value of its remaining assets”, said David Johnson, CEO of
Alliqua.
Alliqua intends to return capital back to its
stockholders on a per share basis of between $1.40 per share to
$1.80 per share in the fourth quarter of 2018. In
addition, Alliqua recently engaged H.C. Wainwright &
Co. to provide a range of advisory services to the
Company aimed to seek and evaluate strategic alternatives for
Alliqua, including acquisition, merger, strategic partnership or
other strategic transactions.
About Alliqua BioMedical,
Inc.
Alliqua can provide a custom manufacturing
solution to partners in the medical device; cosmetics; and OTC
industry, utilizing its proprietary hydrogel technology. Alliqua's
electron beam production process, located at its 16,500 square foot
GMP manufacturing facility in Langhorne, PA, allows Alliqua to
custom manufacture a wide variety of hydrogels. Alliqua's hydrogels
can be customized for various transdermal applications to address
market opportunities in the treatment of wounds as well as the
delivery of numerous drugs or other agents for pharmaceutical and
cosmetic industries.
For additional information, please visit
http://www.alliqua.com. To receive future press releases via email,
please visit https://ir.stockpr.com/alliqua/email-alerts.
About Celularity Inc.:
Celularity, headquartered in Warren, New Jersey,
is a biotechnology company that has leading-edge technology and an
associated intellectual property portfolio that uniquely positions
Celularity to harness the power of the placenta. Their asset
portfolio consists of more than 800 granted patents worldwide, as
well as pre-clinical and clinical assets including CAR constructs
for allogeneic CAR-T/NK products, and commercial stage biosourcing
and functional regeneration businesses. For more information,
please visit www.celularity.com. Follow Celularity on Social Media:
@Celularity.
Legal Notice Regarding Forward-Looking
Statements
This release contains forward-looking
statements. Forward-looking statements are generally identifiable
by the use of words like "may," "will," "should," "could,"
"expect," "anticipate," "estimate," "believe," "intend," or
"project" or the negative of these words or other variations on
these words or comparable terminology. The reader is cautioned not
to put undue reliance on these forward-looking statements, as these
statements are subject to numerous factors and uncertainties
outside of our control that can make such statements untrue,
including, but not limited to, the adequacy of the Company's
liquidity to pursue its complete business objectives; inadequate
capital; the Company's ability to obtain reimbursement from third
party payers for its products; loss or retirement of key
executives; adverse economic conditions or intense competition;
loss of a key customer or supplier; entry of new competitors and
products; adverse federal, state and local government regulation;
technological obsolescence of the Company's products; technical
problems with the Company's research and products; the Company's
ability to expand its business through strategic acquisitions; the
Company's ability to integrate acquisitions and related businesses;
price increases for supplies and components; and the inability to
carry out research, development and commercialization plans. In
addition, other factors that could cause actual results to differ
materially are discussed in our filings with the SEC, including our
Annual Report on Form 10-K and our Quarterly Reports on Form
10-Q. Investors and security holders are urged to read these
documents free of charge on the SEC's web site at
http://www.sec.gov. We undertake no obligation to publicly update
or revise our forward-looking statements as a result of new
information, future events or otherwise.
Investor Relations Alliqua:Joe Warusz, Chief Financial
Officerir@alliqua.com
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