According to the Complaint, Alliqua BioMedical, Inc. provides a suite of wound care solutions that enable surgeons, clinicians, and wound care practitioners to address the challenges in chronic and acute wounds. The Company has built its portfolio through its hydrogel technology platform, targeted acquisitions, licensing and distribution agreements, and its contract manufacturing business.

On January 5, 2018, Alliqua issued a press release announcing that it had entered into an Asset Purchase Agreement by and among the Company and Celularity Inc.

The Complaint alleges that on January 29, 2018, in order to convince Alliqua stockholders to vote in favor of the Proposed Transaction, Defendants authorized the filing of a materially incomplete and misleading Preliminary Proxy Statement on a Schedule 14A with the SEC, in violation of Sections 14(a) and 20(a) of the Exchange Act. The Complaint alleges that in particular, the Proxy Statement contains materially incomplete and misleading information concerning: (i) the valuation analyses conducted by the Company’s financial advisor, Cowen and Company, LLC; and (ii) the background process leading up to the Proposed Transaction.

This case was dismissed as moot on April 4, 2018.