LANGHORNE, Pa., April 22, 2019 (GLOBE NEWSWIRE) --
On January 3rd, I wrote a letter updating you, our shareholders, on the status of events that I thought would affect each of you in a positive way. Please see the link if you missed this.
Today, I would like to provide a further update to that letter.
First, as you have probably seen, we declared a special dividend of $1.05 per share with a record date of April 22nd, 2019. However, we think the real excitement is now about two deals we have in progress with companies that our Alliqua shareholders will own shares in upon the closing of these transactions.
Let me start with Adynxx.
Great progress has been made with this exciting company, including receipt of a substantial grant award from the National Institute on Drug Abuse to support the clinical development of brivoligide, the company’s lead product intended to both reduce postoperative pain and the need for opioid-based therapies. I will let the company provide a more thorough update on their progress.
Now, let’s speak about TO Pharma.
TO Pharma (TOP) offers you two ways to win. First, TOP intends to use the 20,000 patient records they developed over the past 10 years with Tikun Olam Israel, to identify the most appropriate assets to take through an FDA process with a proprietary extract, Avidekel. Second, TOP intends to leverage our 16,000 square foot hydrogel manufacturing facility in Langhorne, PA to build a portfolio of Consumer Products. We are excited about the creation of this new public bio-pharmaceutical company focused on discovering, developing and commercializing novel therapeutics based on TOP’s proprietary cannabinoid product platform in a number of FDA-regulated clinical indications and in select OTC markets.
So yes, we continue to make progress and we are confident this progress should create additional shareholder value. As a shareholder of Alliqua Biomedical, you will own shares in both of these exciting companies. Thus, you really have three ways to win with your Alliqua shares:
1). A cash dividend of $1.05
2). Shares in Adynxx, an exciting company developing novel, disease-modifying therapies for pain and inflammatory diseases with a lead product candidate in Phase for reducing pain and opioid use after surgery.
3). Shares in TO Pharma, an exciting company looking to leverage cannabinoid for multiple indications and planned product offerings.
We thank you for being a shareholder of Alliqua.
David I Johnson
About Alliqua BioMedical, Inc.
Alliqua, through its AquaMed subsidiary, 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.
About Adynxx, Inc.
Adynxx is a clinical stage biopharmaceutical company focused on bringing to market novel, disease-modifying products for the treatment of pain and inflammation. Adynxx’s pipeline includes brivoligide, a Phase 2 drug candidate intended to address postoperative pain in a readily-identified group of patients with a greater risk of experiencing increased pain and elevated opioid use following surgery, and AYX2, a pre-clinical candidate intended to treat chronic syndromes of pain, including both inflammatory and neuropathic pain. Both programs were discovered by Adynxx and are part of the AYX transcription factor decoy technology platform, and brivoligide development is supported with a $5.7M grant award from the National Institute on Drug Abuse.
About TO Pharmaceuticals
TO Pharmaceuticals LLC is a biopharmaceutical company focused on discovering, developing and commercializing novel therapeutics based on its proprietary cannabinoid product platform in a number of FDA-regulated clinical indications and in select OTC markets. TOP is exclusively licensed worldwide to utilize the pharmaceutical intellectual property developed by Tikun Olam Limited.
About Tikun Olam Limited
Tikun Olam ("repair the world" in Hebrew) is globally recognized as the pioneer of modern medical cannabis. Since 2010, its products have been the subject of ongoing clinical trials and have been relied upon to treat over 20,000 patients in Israel’s regulated market for symptoms of conditions including cancer, PTSD, AIDS, epilepsy, Crohn's Disease/colitis, multiple sclerosis, cerebral palsy, chronic pain and neuropathy. The growing international network of Tikun Olam affiliates includes, among others, the USA’s T.O. Global, LLC, Canada’s MedReleaf and Australia’s Medifarm.
Forward Looking Statements
Statements in this press release that are not a description of historical fact are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words referencing future events or circumstances such as “expect,” “intend,” “plan,” “anticipate,” “believe,” and “will,” among others. Such statements include, but are not limited to, statements regarding the cash dividend and the structure, timing and completion of the proposed transactions with Adynxx, Inc. and TOP, and statements regarding the expected benefits to be realized as a result of these transactions. These statements represent Alliqua’s intentions, plans, expectations and beliefs, and no assurance can be given that the results described in such statements will be achieved. Alliqua, Adynxx, Inc. and/or TOP may not actually consummate the proposed transactions or any plans or product development goals, in a timely manner, if at all, or otherwise carry out the intentions or meet the expectations or projections disclosed in our forward-looking statements, and you should not place undue reliance on these forward-looking statements. Because such statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. These forward-looking statements are based upon Alliqua's current expectations and involve assumptions that may never materialize or may prove to be incorrect. Risks and uncertainties facing Alliqua are described more fully in Alliqua's periodic reports filed with the SEC available at www.sec.gov. You are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date on which they were made. Alliqua undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made, except as may be required by law.
Alliqua BioMedical, Inc.
Source: Alliqua BioMedical, Inc