LANGHORNE, Pa., May 07, 2018 (GLOBE NEWSWIRE) -- Alliqua BioMedical, Inc. (Nasdaq:ALQA), 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.
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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.
