In early 2013, Alliqua was restructured with a seasoned management team and Board, which launched the company’s new strategy to become a leading provider of wound care products. Coincident with the new leadership, Alliqua raised capital from company insiders along with a group of retail and institutional investors. With this initial capital, Alliqua began to build its sales infrastructure and consolidate its operations.
Throughout 2013, the company entered strategic relationships with a variety of wholesale distributors including Team Distribution International, World Health Industries, McKesson Medical-Surgical, and Medline. Alliqua also secured a license agreement with sorbion GmbH & Co. to distribute wound care dressings based on sorbion’s proprietary hydroactive technology.
In November 2013, the company entered into an agreement with Celgene Corporation (CELG) to develop and market wound healing products based on Celgene Cellular Thereapeutics’ (CCT) placenta-derived technology. Products based on this technology are anticipated to have superior wound-healing characteristics, and will enable Alliqua to enter one of the fastest growing segments of the wound care market. In conjunction with the Celgene license agreement, a group of healthcare-focused institutional investors, and Celgene itself, collectively made a $14 million equity investment into the company.
Thus far in 2014, Alliqua has been focused on building a team of dedicated sales professionals who will oversee the marketing of the company’s proprietary products. Alliqua uplisted to the Nasdaq exchange in January of this year.