Feb. 2, 2015, 4:58 PM
- Alliqua BioMedical (NASDAQ:ALQA) acquires privately-held Celleration for ~$30.4M in cash and stock, with additional contingent payments in cash and stock if certain revenue thresholds are reached by the end of 2016 or if certain milestones are achieved in connection with product sales in the U.K.
- Celleration's business is based on its MIST Therapy therapeutic ultrasound platform which uses low-frequency ultrasound delivered through a saline mist to the wound bed to promote healing. It generated ~$8.7M in revenues last year.
- The transaction should close in Q2. Alliqua will host a conference call tomorrow morning at 8:00 am ET to discuss the deal.
Alliqua BioMedical, Inc. operates as a biomedical company, provides wound care solutions that will enable surgeons, clinicians, and wound care practitioners to address the entire spectrum of challenges presented by chronic and advanced wounds. The company was founded on October 27, 1997 and is... More
Industry: Drug Delivery & Accessories
Country: United States