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April 01, 2015 6:11 AM ET

Pharmaceuticals

Company Overview of Alliqua BioMedical, Inc., Prior To Merger With Alliqua, Inc.

Company Overview

As of June 5, 2014, Alliqua BioMedical, Inc was acquired by Alliqua, Inc. Alliqua BioMedical, Inc. develops, manufactures and markets ingredient and transdermal drug delivery products. The company is based in New York, New York. Alliqua BioMedical, Inc. operates as a subsidiary of Alliqua, Inc.

850 3rd Avenue

Suite 1801

New York, NY 10022

United States

Phone:

646-218-1450

Key Executives for Alliqua BioMedical, Inc., Prior To Merger With Alliqua, Inc.

Alliqua BioMedical, Inc., Prior To Merger With Alliqua, Inc. does not have any Key Executives recorded.

Alliqua BioMedical, Inc., Prior To Merger With Alliqua, Inc. Key Developments

James Sapirstein Resigns as Chief Executive Officer of Alliqua Biomedical, Inc

On March 14, 2014, James Sapirstein resigned as chief executive officer of Alliqua Biomedical, Inc, effective immediately.

Alliqua Biomedical, Inc. Enters into Distributor Agreement with Sorbion GmbH & Co KG

Alliqua Biomedical, Inc., a wholly-owned subsidiary of Alliqua, Inc., entered into a distributor agreement with Sorbion GmbH & Co KG, pursuant to which the company became the exclusive distributor of sorbion sachet S, sorbion sana and new products with hydrokinetic fibers as primary dressings in the United States of America, Canada and Latin America, subject to certain exceptions. The initial term of the Sorbion Agreement ends on December 31, 2018, unless sooner terminated pursuant to the termination rights under the Sorbion Agreement, and will be extended for additional year terms until December 31, 2023, so long as the company and Sorbion agree in September as to the minimum annual purchase amount for the calendar year that ends four years from the calendar year of such September, such that, for example, in September 2014, the company and Sorbion must agree to the minimum annual purchase amount for the 2018 calendar year so that the Sorbion Agreement is extended until December 31, 2019. The company may terminate the Sorbion Agreement upon six months prior written notice to Sorbion. Sorbion may terminate the Sorbion Agreement for good cause, which shall include the company's application for insolvency proceedings, a change of control of the company that may disrupt the company's relationship with Sorbion, the company's failure to cure a material breach of the Sorbion Agreement within 60 days or the company's challenge of Sorbion's intellectual property.

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