Alliqua Enters License Agreement with Celgene, Celgene to Purchase 1.672M Shares of Alliqua at $3.59/Share

Alliqua

entered into a licensing agreement with Celgene Cellular Therapeutics (“CCT”), a subsidiary of Celgene Corporation

(“Celgene”), whereby Alliqua received the right to develop and market the advanced wound care products Biovance® and Extracellular Matrix (ECM). Concurrently with the license agreement, Alliqua entered into an agreement with Celgene to sell to Celgene 1,672,474 shares of common stock of Alliqua, at a purchase price of $3.59 per share and a five year warrant to purchase an additional 836,237 shares of common stock at an exercise price of $5.69, in exchange for $6.0 million. In connection with this agreement to invest in Alliqua's securities, Celgene received a right to appoint a director to Alliqua's Board