OTC Stock News

[dmik]

ALQA update and news
Alliqua, Inc. (OTCBB:ALQA) (Frankfurt:HL1) ("Alliqua" or the "Company"), an advanced biomedical products company focused on the development and manufacturing of proprietary drug delivery and wound care technologies, today announced that it has acquired from Noble Biomaterials, Inc. ("Noble Biomaterials") a 10 year exclusive global license for two wound care dressings, with an additional 10 year renewal option. These two products utilize X-STATIC®, Noble Biomaterial's proprietary silver-based antimicrobial fiber used for advanced wound care, infection control and odor elimination.

The licensed dressings, a hydrocolloid with X-STATIC® and a hydrogel with X-STATIC® that utilizes Alliqua's hydrogels, have already received their 510(k) clearance from the U.S. Food and Drug Administration. Noble Biomaterials will continue to supply the X-STATIC® for the dressings and will receive royalty payments.

Alliqua believes that X-STATIC® enhances the effectiveness of medical devices used for wound care, burn care, skin care and infection prevention. Benefits are believed to include continuous, sustained release of silver cations for broad spectrum antimicrobial protection; demonstration of rapid bactericidal activity against a broad range of pathogens in pharma codynamice in vitro model; no flaking or shedding of elemental silver; high versatility, allowing dressings to be used for multiple wound applications; no staining of patient, wound bed or clinician; and smoother skin application and greater patient comfort.

Management believes that this transaction will allow it to enter the market for silver dressings significantly earlier than it would have if it were to continue to pursue the 510(k) it previously submitted for a substantially similar hydrogel dressing. Additionally, the transaction includes a hydrocolloid dressing that should further enhance the Company's offerings in the $11.8 billion wound care market and that initially the target markets for the product will include diabetic ulcers, pressure sores, burns and post surgical applications. According to the National Institute of Health (NIH), each year there are more than 2.5 diabetic ulcers diagnosed in the U.S. and more than 30 million surgical procedures performed.

David Stefansky, Chairman of Alliqua, said: "We are very excited about collaborating with Noble Biomaterials through the licensing of these two products, especially the hydrogel that utilized Alliqua's hydrogels. We believe that this transaction will expedite our efforts to bring a silver dressing to market, along with allowing us to enhance revenue while we pursue a prescription pain patch and other projects."

Joel Furey, President of Noble Biomaterials, said: "The licensing of these products allows Noble Biomaterials to focus on our efforts to deliver world class bacterial management solutions for health improvement applications. This is a great opportunity to partner with an innovative healthcare company to deliver integrated manufacturing, marketing and distribution capabilities."

As a result of the license agreement and the fact that the products have already received 510(k) clearance and are manufactured utilizing Alliqua's hydrogel, Alliqua has decided to withdraw its 510(k) application with respect to its antimicrobial hydrogel dressing.