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ULURU Inc. Enters Into Strategic Financings of Up to $1.6 Million at a Premium to Current Share Price
Date:9/15/2011

ADDISON, Texas, Sept. 15, 2011 /PRNewswire/ -- ULURU Inc. (NYSE AMEX: ULU), a specialty pharmaceutical company focused on the development of a portfolio of wound management and oral care products, today announced it has entered into agreements for investment commitments with Ironridge Global BioPharma and its affiliates ("Ironridge"), under which Ironridge has committed in two transactions, subject to certain conditions, to purchase common and preferred stock totalling up to $1.6 million. One of the transactions includes a purchase of up to $650,000 in convertible, redeemable, preferred stock with a 7.5% dividend. The preferred stock is convertible into shares of the Company's common stock at a minimum conversion price of $0.70, which represents a premium of approximately 37 percent over the closing price on September 14, 2011. In the second financing, the Company may issue up to $969,000 of registered common stock, subject to certain conditions, at a price per share equal to $ 0.50, 102% of the closing bid price of the Company's common stock on September 14, 2011, in exchange for cash or a secured promissory note issued by the investor.

Commenting on the financing, Kerry P. Gray, President and CEO of ULURU, stated, "The structure of these financings provides ULURU with the necessary capital without dilution associated with discounted stock offerings that include substantial warrant coverage. Ironridge provides us with the opportunity to partner with a source of capital to execute our business plan. This capital will be used to expand our commercialization activities, prepare for the extension of our product line including Altrazeal® Collagen and Altrazeal® Silver, and place us in a stronger position negotiating with strategic partners."

The registered offering of common stock is being made pursuant to a prospectus supplement included as part of a shelf
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SOURCE ULURU Inc.
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