Alliqua BioMedical and Adynxx Announce Merger Agreement

Alliqua BioMedical (Nasdaq:ALQA) and Adynxx a privately held biopharmaceutical company, today announced that they have entered into a definitive merger agreement under which the stockholders of Adynxx would become the majority owners of Alliqua’s outstanding common stock on a fully-diluted basis.

As quoted in the press release:

The proposed merger will create a public clinical-stage pharmaceutical company focused on developing a platform of first-in-class, disease-modifying, non-opioid therapies for the treatment of pain.  Adynxx’s lead product candidate, brivoligide for the reduction of postoperative pain, is intended to provide long-term pain relief and reduced opioid usage with a single administration at the time of surgery in a group of patients with a greater risk of experiencing increased and prolonged pain following surgery.

“We are excited about creating multiple ways for our shareholders to maximize value with Alliqua,” said Dave Johnson, CEO of Alliqua.  “First, as announced in May, we intend to make a special cash dividend to our stockholders before the merger. Second, following an extensive review of strategic alternatives, Alliqua’s Board of Directors has determined that the signing of our definitive agreement with Adynxx will allow our stockholders the opportunity to enjoy value appreciation in their equity holdings. Finally, we are currently exploring alternatives for our 16,500 square foot GMP custom hydrogel manufacturing facility in Langhorne, PA to maximize value for our shareholders.”

Click here to read the full press release.