Alliqua lands $1M to ramp up wound care biz

Tuesday, November 12, 2013

LANGHORNE, Pa. – Alliqua has obtained $1 million in financing from Crossover Healthcare Fund to fund key initiatives in the wound care space, the company announced Nov. 12. The biopharmaceutical company will put the money toward sales and marketing of hydrogel products sold under the SilverSeal brand, and its sorbion sachet S and sorbion Sana wound-care products. The financing is in the form of 250,000 shares of Series A Preferred Stock, which can be converted into 11,111,111 shares of common stock. Alliqua must redeem the stock on Oct. 21, 2015, according to the release.