Celularity Acquires Alliqua BioMedical’s Advanced Biologic Wound Care Business

Alliqua BioMedical Inc., a regenerative technologies company committed to restoring tissue and rebuilding lives, has reached a definitive agreement with Celularity Inc. under which Celularity will acquire all of the property, assets, and rights relating to the company’s advanced biologic wound care business including Biovance amniotic membrane allograft, Interfyl Human Connective Tissue Matrix, the UltraMist Therapy System, and other therapeutic ultrasound platform products. The deal is worth $29 million; no debt or significant liabilities are being assumed by Celularity in the transaction.

Alliqua BioMedical’s Board of Directors unanimously approved the agreement.
 
“This is a transformative transaction for Alliqua,” said David Johnson, CEO of Alliqua. “First, we will be able to strengthen our balance sheet by paying our debt in full. Second, we believe we will have an appropriate amount of working capital to drive our operating business forward in a positive way. Finally, we will evaluate the appropriate options to allocate capital to maximize shareholder value.”
 
The asset purchase agreement includes all intellectual property and all license, marketing, development and supply agreements related to these businesses. The company’s contract manufacturing assets and operations are not included in the asset purchase agreement. The transaction is subject to certain customary closing conditions, including, among other things, Alliqua BioMedical stockholder approval. There are no financing conditions associated with the transaction.

“The acquisition of Alliqua’s commercial infrastructure and product portfolio in the field of regeneration advances Celularity’s goal of bringing back under one entity the proprietary end-to-end regenerative pipeline that was pioneered by Celularity’s predecessor company, Anthrogenesis Corporation,” said Dr. Robert Hariri, founder and CEO of Celularity.  “This acquisition further positions Celularity to become the world leader in cell therapy and regenerative medicine, which have the potential to treat or cure many of today’s most debilitating illnesses.”
 
Cowen served as Alliqua’s exclusive financial advisor in connection with this transaction.
 
Alliqua is a regenerative technologies company committed to restoring tissue and rebuilding lives. Through its sales and distribution network, together with its proprietary products, Alliqua offers solutions that allow clinicians to utilize the latest advances in regenerative technologies to bring improved patient outcomes to their practices. Alliqua currently markets the human biologic regenerative technologies, Biovance and Interfyl. The company also markets its UltraMist Therapy System, which delivers painless, noncontact low-frequency ultrasound below the wound bed to promote the healing process. The company has locations in Yardley, Pa.; Langhorne, Pa.; and Eden Prairie, Minn.

Celularity, headquartered in Warren, N.J., is a biotechnology company with technology and an associated intellectual property portfolio that positions the firm to harness the power of the placenta. Its 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.