Navigation Links
ULURU Inc. Announces Status of York Note Receivable
Date:7/27/2009

ADDISON, Texas, July 27 /PRNewswire-FirstCall/ -- ULURU Inc. (NYSE Amex: ULU) ("the Company") today announced that it has collected $1,024,544 which represents all of the accrued and unpaid principal and interest associated with the Promissory Note ("Note Agreement") between the Company and York Pharma, plc ("York").

In order to consummate the remittance, on July 22, 2009, the Company entered into a Forbearance Agreement where the Company agreed, in exchange for a payment of $250,000, to forbear for a period of no more than seven days from exercising its rights and remedies under the Note Agreement and certain related loan documents.

The payment received from York was applied first to unpaid interest and then the remainder to reduce the aggregate principal amount owed to the Company. Accordingly, the aggregate principal amount payable to the Company was reduced to $774,246. The Forbearance Agreement provided that the remaining principal would accrue interest at an increased rate of 14% per annum.

On July 24, 2009, the Company assigned all of its interest in and to its rights, benefits and obligations under the Note Agreement to an unrelated third party in exchange for a cash payment of $774,246 plus all accrued but unpaid interest. As a result of such assignment, the Company no longer has any interest in the Loan Documents.

Renaat Van den Hooff, President & CEO of ULURU Inc., commented: "We are very pleased that we've been able to recuperate the amounts owed to our Company. It certainly gives us more breathing room and allows us to focus on the available options for strategic partnerships and continuation of our business plan."

About ULURU Inc.:

ULURU Inc. is a specialty pharmaceutical company focused on the development of a portfolio of wound management and oral care products to provide patients and consumers with improved clinical outcomes through controlled delivery utilizing its innovative Nanoflex(TM) Aggregate technology and OraDisc(TM) transmucosal delivery system. For more information about ULURU Inc., please visit www.uluruinc.com. For more information about Altrazeal(TM), please visit www.Altrazeal.com.

This press release contains certain statements that are forward-looking within the meaning of Section 27a of the Securities Act of 1933, as amended, including statements relating to the company's clinical results and the company's restructuring and planned sale of non-strategic assets. These statements are subject to numerous risks and uncertainties, including but not limited to the risk factors detailed in the Company's Annual Report on Form 10-K for the year ended December 31, 2008 and other reports filed by us with the Securities and Exchange Commission.

    Contact: Company
    Renaat E. Van den Hooff
    President & CEO
    Terry K. Wallberg
    Vice President & CFO
    (214) 905-5145


'/>"/>
SOURCE ULURU Inc.
Copyright©2009 PR Newswire.
All rights reserved

Related medicine news :

1. ULURU Inc. to Present at UBS Global Life Sciences Conference 2007
2. ULURU Inc. Announces Odd-Lot Buy Back Offer
3. ULURU Inc. Announces Conference Call to Discuss Financial Results for the Third Quarter Ended September 30, 2007 and Provide a Business Update
4. ULURU Inc. Reports Third Quarter 2007 Results
5. ULURU Inc. Announces Issuance of Notice of Allowance for Nanoparticle Aggregate Patent
6. ULURU Inc. to Present at Cowen and Company 28th Annual Health Care Conference 2008
7. ULURU Inc. Announces Conference Call to Discuss Financial Results for the First Quarter Ended March 31, 2008 and Provide a Business Update
8. ULURU Inc. Announces Conference Call to Discuss Financial Results for the Fourth Quarter Ended December 31, 2007 and Provide a Business Update
9. ULURU Inc. Announces the Launch Plan for Altrazeal(TM)
10. ULURU Inc. Reports First Quarter 2008 Financial Results
11. ULURU Inc. Announces the Appointment of Ronald A. Ahrens to the Board of Directors
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:3/24/2017)... Hatboro, Pennsylvania (PRWEB) , ... March 24, 2017 ... ... and recycling solutions for contaminated soil, dredged material, and hazardous and non-hazardous materials ... headquartered in Allentown, Pennsylvania. This acquisition will add four additional processing facilities ...
(Date:3/24/2017)... ... ... Digital Scientists, a software innovation lab specializing in web design and ... Carolina location. The lab has set up shop at the renowned NEXT Innovation ... Carolina clients for years from our office here in Atlanta,” explains Digital Scientists’ CEO, ...
(Date:3/24/2017)... ... , ... The iaedp Foundation, the premier provider of educational programs and training ... the full spectrum of disordered eating, announced today that the 2017 Symposium set a ... states and several countries converged on the Green Valley Resort in Las Vegas. ...
(Date:3/24/2017)... ... March 24, 2017 , ... As the standards bearer ... communications platform that positions them as the go-to thought leader in all matters ... publication as an always-on, always-fresh news, views and advocacy engine, called ONS Voice. ...
(Date:3/24/2017)... ... ... Viewers who like to educate themselves on current issues and who enjoy gaining ... issues tend to appreciate and love the "Informed" series, hosted by Rob Lowe. ... causes around the world. , Running for charity has become a multi-million ...
Breaking Medicine News(10 mins):
(Date:3/23/2017)... , March 23, 2017 ... research report created through extensive primary research (inputs ... the report aims to present the analysis of ... of Procedure (Replacement and Repair); Replacement Procedure By ... Repair By Technique (Surgical Devices, Balloon Valvuloplasty, Transcatheter ...
(Date:3/23/2017)... , March 23, 2017 As a ... along with the prevalence of allergic diseases, cutting ... are currently revolutionising the ways in which pharmaceutical ... Allergies 2017 promises to be both a high ... the allergy interest groups, immunologists, research scholars and ...
(Date:3/23/2017)... -- Summary Global Markets ... Primary Hyperoxaluria - Pipeline Review, H1 2017, provides ... System And Sex Hormones) pipeline landscape. Primary ... kidney and bladder stones. It results from the ... blood in the urine, pain when urinating, fever, ...
Breaking Medicine Technology: