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Alliqua, Inc. (Formerly known as HepaLife Technologies Inc.) (ALQA) Announces Transaction With Celgene (CELG)


11/19/2013 7:57:20 AM

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LANGHORNE, Pa.--(BUSINESS WIRE)--Alliqua, Inc. (OTCQB:ALQA) (“Alliqua” or the “Company”) entered into a licensing agreement with Celgene Cellular Therapeutics (“CCT”), a subsidiary of Celgene Corporation (NASDAQ:CELG) (“Celgene”), whereby Alliqua received the right to develop and market the advanced wound care products Biovance® and Extracellular Matrix (ECM). Concurrently with the license agreement, Alliqua entered into an agreement with Celgene to sell to Celgene 1,672,474 shares of common stock of Alliqua, at a purchase price of $3.59 per share and a five year warrant to purchase an additional 836,237 shares of common stock at an exercise price of $5.69, in exchange for $6.0 million. In connection with this agreement to invest in Alliqua’s securities, Celgene received a right to appoint a director to Alliqua’s Board of Directors. Concurrent to this transaction, several unrelated funds led by Broadfin Capital LLC and Perceptive Advisors LLC, invested an additional $7 million on comparable financial terms.

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