<SEC-DOCUMENT>0001171843-20-000472.txt : 20200124
<SEC-HEADER>0001171843-20-000472.hdr.sgml : 20200124
<ACCEPTANCE-DATETIME>20200124160512
ACCESSION NUMBER:		0001171843-20-000472
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20200124
ITEM INFORMATION:		Completion of Acquisition or Disposition of Assets
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20200124
DATE AS OF CHANGE:		20200124

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Anika Therapeutics, Inc.
		CENTRAL INDEX KEY:			0000898437
		STANDARD INDUSTRIAL CLASSIFICATION:	SURGICAL & MEDICAL INSTRUMENTS & APPARATUS [3841]
		IRS NUMBER:				043145961
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-14027
		FILM NUMBER:		20545479

	BUSINESS ADDRESS:	
		STREET 1:		32 WIGGINS AVENUE
		CITY:			BEDFORD
		STATE:			MA
		ZIP:			01730
		BUSINESS PHONE:		(781) 457-9000

	MAIL ADDRESS:	
		STREET 1:		32 WIGGINS AVENUE
		CITY:			BEDFORD
		STATE:			MA
		ZIP:			01730

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ANIKA THERAPEUTICS INC
		DATE OF NAME CHANGE:	19970114

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ANIKA RESEARCH INC
		DATE OF NAME CHANGE:	19930309
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<TYPE>8-K
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<DESCRIPTION>FORM 8-K
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<p style="text-align: center;"><font style="font-size: 14pt;"><strong>UNITED STATES</strong><br /><strong>SECURITIES AND EXCHANGE COMMISSION</strong><br /><strong>Washington, D.C. 20549</strong><br />_____________________</font></p>

<p style="text-transform: uppercase; text-align: center;"><font style="font-size: 14pt;"><strong>Form 8-K</strong><br />_____________________</font></p>

<p style="text-align: center;"><font style="font-size: 12pt;"><strong>CURRENT REPORT</strong></font></p>

<p style="text-align: center;"><font style="font-size: 12pt;"><strong>Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934</strong></font></p>

<p align="center"><font style="font-size: 10pt;">Date of Report (Date of earliest event Reported): <!--January 24, 2020-->January 24, 2020 &#160;</font></p>

<p align="center"><font style="font-size: 12pt;"><strong>Anika Therapeutics</strong></font><br /><font style="font-size: 10pt;">(Exact Name of Registrant as Specified in Charter)</font></p>

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    <td align="center" width="33%"><font style="font-size: 10pt;"><strong>Delaware</strong></font></td>
    <td align="center" width="34%"><font style="font-size: 10pt;"><strong>000-21326</strong></font></td>
    <td align="center" width="33%"><font style="font-size: 10pt;"><strong>04-3145961</strong></font></td></tr>
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    <td align="center" width="33%"><font style="font-size: 10pt;">(State or Other Jurisdiction of Incorporation)</font></td>
    <td align="center" width="34%"><font style="font-size: 10pt;">(Commission File Number)</font></td>
    <td align="center" width="33%"><font style="font-size: 10pt;">(I.R.S. Employer Identification Number)</font></td></tr>
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<p><font style="font-size: 10pt;">&#160;</font></p>

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    <td align="center" width="50%"><font style="font-size: 10pt;"><strong>32 Wiggins Avenue, Bedford, Massachusetts 01730</strong><!----></font></td></tr>
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    <td align="center" width="50%"><font style="font-size: 10pt;">(Address of Principal Executive Offices) (Zip Code)</font></td></tr>
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<p align="center"><font style="font-size: 10pt;"><strong>(781) 457-9000</strong><br />(Registrant's telephone number, including area code)</font></p>

<p align="center"><font style="font-size: 10pt;"><strong>Not Applicable</strong><br />(Former name or former address, if changed since last report)</font></p>

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    <td colspan="3"><font style="font-size: 10pt;">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:<br /><br /></font></td></tr>
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    <td width="21"><font style="font-size: 10pt;">&#160;</font></td>
    <td width="40"><font style="font-size: 10pt;">[ &#160; ]</font></td>
    <td nowrap="nowrap"><font style="font-size: 10pt;">&#160;&#160;Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</font></td></tr>
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    <td width="21"><font style="font-size: 10pt;">&#160;</font></td>
    <td width="40"><font style="font-size: 10pt;">[ &#160; ]</font></td>
    <td nowrap="nowrap"><font style="font-size: 10pt;">&#160;&#160;Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</font></td></tr>
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    <td width="21"><font style="font-size: 10pt;">&#160;</font></td>
    <td width="40"><font style="font-size: 10pt;">[ &#160; ]</font></td>
    <td nowrap="nowrap"><font style="font-size: 10pt;">&#160;&#160;Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</font></td></tr>
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    <td width="21"><font style="font-size: 10pt;">&#160;</font></td>
    <td width="40"><font style="font-size: 10pt;">[ &#160; ]</font></td>
    <td nowrap="nowrap"><font style="font-size: 10pt;">&#160;&#160;Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</font></td></tr>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0;">Securities registered pursuant to Section 12(b) of the Act:</p>

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    <td style="width: 40%; border: Black 1pt solid; text-align: center;"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Title of each class</font></td>
    <td style="width: 20%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center;"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Trading Symbol(s)</font></td>
    <td style="width: 40%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center;"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Name of each exchange on which registered</font></td></tr>
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    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; text-align: center;"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">Common Stock, par value $0.01 per share</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center;"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">ANIK</font></td>
    <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; text-align: center;"><font style="font-family: Times New Roman, Times, Serif; font-size: 10pt;">NASDAQ Global Select Market</font></td></tr>
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<p style="font-size: 10pt; margin: 0pt;">&#160;</p>

<p style="font-size: 10pt; margin: 0pt;">Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR &sect;230.405) or Rule&#160;12b-2&#160;of the Securities Exchange Act of 1934 (17 CFR&#160;&sect;240.12b-2).&#160;Emerging growth company [&#160;&#160; ]</p>

<p style="font-size: 10pt; margin: 0pt;">&#160;</p>

<p style="font-size: 10pt; margin: 0pt;">If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. [&#160;&#160; ]</p>


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<p><font style="font-size: 10pt;">  <strong>  </strong></font></p>

<p><font style="font-size: 10pt;"><strong>Item 2.01. Completion of Acquisition or Disposition of Assets.</strong></font></p>

<p><font style="font-size: 10pt;">

<p>On January 24, 2020 (the &#8220;Closing Date&#8221;), Anika Therapeutics, Inc. (the &#8220;Company&#8221;) completed the acquisition of Parcus Medical, LLC, a Wisconsin limited liability company (&#8220;Parcus&#8221;) pursuant to the terms of the Agreement and Plan of Merger, dated as of January 4, 2020 (the &#8220;Parcus Merger Agreement&#8221;), by and among the Company, Parcus, Sunshine Merger Sub LLC, a Wisconsin limited liability company and a wholly-owned subsidiary of the Company (&#8220;Parcus Merger Sub&#8221;) and Philip Mundy, an individual, solely in his capacity as the representative, agent and attorney-in-fact of the Equityholders (as defined in the Parcus Merger Agreement).</p>

<p>At the closing of the merger of Parcus Merger Sub with and into Parcus, with Parcus continuing as the surviving company and a wholly-owned subsidiary of the Company (the &#8220;Parcus Merger&#8221;) (the &#8220;Effective Time&#8221;), the Company paid Parcus $35,000,000 in cash, subject to adjustments for cash, indebtedness, working capital and transaction expenses of Parcus as of the Effective Time.  The Parcus Merger Agreement also provides for certain potential earn-out payments of up to an aggregate amount of $60,000,000 if certain financial targets are achieved in 2020, 2021 and 2022, payable in cash.</p>

<p>The foregoing description of the Merger Agreement and the transactions contemplated thereby is qualified in its entirety by reference to the full text of the Merger Agreement, which was attached as Exhibit 2.2 to the Company&#8217;s Current Report on Form 8-K filed with the Securities and Exchange Commission (the &#8220;SEC&#8221;) on January 7, 2020 and is incorporated by reference herein.</p>

<p>This Current Report includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended, concerning, but not limited to, the acquisition of Parcus and the effects of the Parcus Merger. The SEC encourages companies to disclose forward-looking statements so that investors can better understand a company&#8217;s future prospects and make informed investment decisions. Forward-looking statements are subject to risks and uncertainties, many of which are outside our control, which could cause actual results to differ materially from these statements. Therefore, you should not rely on any of these forward-looking statements. Forward-looking statements can be identified by such words as "will," "likely," "may," "believe," "expect," "anticipate," "intend," "seek," "designed," "develop," "would," "future," "can," "could," and other expressions that are predictions of or indicate future events and trends and that do not relate to historical matters. All statements other than statements of historical facts included in this Current Report regarding our strategies, prospects, financial condition, operations, costs, plans, and objectives are forward-looking statements. Factors that could cause or contribute to changes in such forward-looking statements include, but are not limited to (i) failure to realize the anticipated benefits of the acquisitions, (ii) unexpected expenditures or assumed liabilities that may be incurred as a result of the acquisitions, (iii) loss of key employees or customers following the acquisitions, (iv) unanticipated difficulties in conforming business practices, including accounting policies, procedures, internal controls, and financial records of Parcus with the Company, (v) inability to accurately forecast the performance of Parcus resulting in unforeseen adverse effects on the Company&#8217;s operating results, (vi) failure to satisfy the conditions to the completion of the acquisitions on the anticipated schedule, or at all, and (vii) synergies between Parcus and the Company being estimates which may be materially different from actual results.</p>

<p>Please refer to the factors set forth under the heading "Risk Factors" in the Company&#8217;s Annual Report on Form 10-K for the year ended December 31, 2018, filed with the SEC, as may be amended or supplemented in subsequently filed Quarterly Reports on Form 10-Q for important factors that we believe could cause actual results to differ materially from those in our forward-looking statements. Any forward-looking statement made by us in this Current Report is based only on information currently available to us and speaks only as of the date on which it is made. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments, or otherwise.</p></font></p>

<p><font style="font-size: 10pt;"><strong>  </strong></font></p>

<p><font style="font-size: 10pt;"><strong>Item 8.01. Other Events.</strong></font></p>

<p><font style="font-size: 10pt;">

<p>On January 24, 2020, the Company issued a press release announcing the completion of the Parcus Merger. The full text of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.<br /> <br />The information contained in Item 8.01 of this report, including Exhibit 99.1, shall not be incorporated by reference into any filing of the registrant, whether made before, on or after the date hereof, regardless of any general incorporation language in such filing, unless expressly incorporated by specific reference to such filing. The information contained in Item 8.01 of this Current Report on Form 8-K, including Exhibit 99.1, shall not be deemed to be &#8220;filed&#8221; for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section.</p></font></p>

<p><font style="font-size: 10pt;"><strong>  </strong></font></p>

<p><font style="font-size: 10pt;"><strong>Item 9.01. Financial Statements and Exhibits.</strong></font></p>

<p><font style="font-size: 10pt;">

<p><em><strong>(a) Financial Statements of Businesses Acquired.</strong></em></p>

<p>The Company intends to file any financial statements required by Item 9.01(a) as part of an amendment to this Current Report on Form 8-K no later than 71 calendar days after the required filing date for this Current Report on Form 8-K.</p>

<p><em><strong>(b) Pro Forma Financial Information.</strong></em></p>

<p>The Company intends to file any financial statements required by Item 9.01(b) as part of an amendment to this Current Report on Form 8-K no later than 71 calendar days after the required filing date for this Current Report on Form 8-K.</p>

<p><em><strong>(d) Exhibits.</strong></em></p>

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    <td style="text-decoration: underline;" valign="bottom"><font style="font-size: 10pt;"><strong>Exhibit Number</strong></font></td>
    <td width="20"><font style="font-size: 10pt;">&#160;</font></td>
    <td style="text-decoration: underline;" valign="bottom"><font style="font-size: 10pt;"><strong>Description</strong></font></td></tr>
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    <td>&#160;</td>
    <td width="20"><font style="font-size: 10pt;">&#160;</font></td>
    <td><font style="font-size: 10pt;">&#160;</font></td></tr>
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    <td style="text-align: left; vertical-align: top"><a href="http://www.sec.gov/Archives/edgar/data/898437/000117184320000105/exh_22.htm">2.2</a></td>
    <td>&nbsp;</td>
    <td><a href="http://www.sec.gov/Archives/edgar/data/898437/000117184320000105/exh_22.htm">Agreement and Plan of Merger, dated January 4, 2020, by and between Anika Therapeutics, Inc., Parcus Medical, LLC, Sunshine
Merger Sub, LLC and Philip Mundy (filed as Exhibit 2.2 to the Registrant&rsquo;s Current Report on Form 8-K filed on January
7, 2020, and incorporated herein by reference).

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    <td>&nbsp;</td>
    <td>&nbsp;</td>
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    <td><font style="font-size: 10pt;"><a href="exh_991.htm">99.1</a></font></td>
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    <td><font style="font-size: 10pt;"><a href="exh_991.htm">Press Release dated January 24, 2020</a> </font></td></tr>
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<p><font style="font-size: 10pt;"></font></p><hr style="page-break-after: always;" noshade="noshade" />

<p align="center"><font style="font-size: 10pt;"><strong>SIGNATURE</strong></font></p>

<p><font style="font-size: 10pt;">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</font></p>

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    <td valign="top" width="49%"><font style="font-size: 10pt;">&#160;</font></td>
    <td style="font-size: 12pt;" colspan="2" valign="top"><font style="font-size: 10pt;"><strong>Anika Therapeutics</strong></font></td></tr>
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    <td width="49%"><font style="font-size: 10pt;">Date: January 24, 2020</font></td>
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    <td style="text-decoration: underline;" width="49%"><font style="font-size: 10pt;">/s/ Sylvia Cheung&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></td></tr>
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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
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<DESCRIPTION>PRESS RELEASE
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<!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN"><html lang="en-US"><head><title>EdgarFiling</title><meta content="text/html; charset=windows-1252" /><meta name="GENERATOR" content="MSHTML 8.00.7601.18094" /></head><body bgcolor="#ffffff"><p style="text-align: right;"><strong>EXHIBIT 99.1</strong></p><p style="text-align: center;"><font style="font-size: 14pt;"><strong>Anika Therapeutics Closes Acquisition of Parcus Medical</strong></font></p><p style="text-align: center;"><strong>Transaction Accelerates Anika&#8217;s Revenue Growth, Broadens Joint Preservation and Restoration Product Portfolio, Enhances Commercial Capabilities and Expands Pipeline</strong></p><p>
 <p>BEDFORD, Mass., Jan.  24, 2020  (GLOBE NEWSWIRE) -- <strong><u>Anika Therapeutics, Inc.</u></strong>&#160;(NASDAQ: ANIK), a global, integrated joint preservation and regenerative therapies company with products leveraging its proprietary&#160;<strong><u>hyaluronic acid (HA) technology platform</u></strong>, today announced it has closed its acquisition of Parcus Medical, a leading, privately held sports medicine company.<br /></p>  <p>Under the previously disclosed terms of the agreement, Anika acquired all outstanding membership interests of Parcus Medical in exchange for an upfront payment of approximately&#160;$35 million&#160;in cash from the company&#8217;s existing balance sheet, subject to customary closing adjustments. Parcus Medical unitholders will be eligible to receive an additional&#160;$60 million&#160;contingent upon the achievement of certain commercial milestones.</p>  <p>&#8220;I want to congratulate our team on closing the Parcus Medical transaction and officially welcome the Parcus Medical team to the Anika family,&#8221; said Joseph Darling, President and Chief Executive Officer of Anika Therapeutics. &#8220;This acquisition immediately adds a diverse base of high-growth revenue and will help us achieve the objectives we set forth in our five-year strategic plan. We can now turn our attention to executing our integration plan and continuing to transform Anika into a leading global sports and regenerative medicine company.&#8221;</p>  <p>Parcus Medical has a diverse product family that helps facilitate surgical procedures on the shoulder, knee, hip and distal extremities. The acquisition significantly expands Anika&#8217;s offerings into the fast-growing ambulatory surgical center market. The Parcus Medical executive team, led by President&#160;Mark Brunsvold, will join Anika and continue to lead the Parcus Medical business.</p>  <p>SVB Leerink LLC&#160;acted as exclusive financial advisor to Anika and&#160;Sullivan &amp; Cromwell LLP&#160;acted as Anika&#8217;s legal counsel in connection with the Parcus Medical transaction.</p>  <p><strong>About&#160;Anika Therapeutics, Inc.</strong><br /><strong><u>Anika Therapeutics, Inc.</u></strong><strong>&#160;</strong>(NASDAQ: ANIK) is a global, integrated joint preservation and regenerative therapies company based in&#160;Bedford, Mass.&#160;Anika is committed to delivering therapies to improve the lives of patients across a continuum of care from osteoarthritis pain management to joint preservation and restoration. The company has more than two decades of global expertise commercializing more than 20 products based on its proprietary<strong>&#160;<u>hyaluronic acid (HA) technology platform</u></strong>. For more information about Anika, please visit<strong>&#160;<u>www.anikatherapeutics.com</u></strong>.</p>  <p><strong>Forward-Looking Statements</strong><br />This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended, concerning, but not limited to, the acquisition of Parcus Medical and the effects of the acquisition.&#160;The Securities and Exchange Commission&#160;("<u>SEC</u>") encourages companies to disclose forward-looking statements so that investors can better understand a company&#8217;s future prospects and make informed investment decisions. Forward-looking statements are subject to risks and uncertainties, many of which are outside our control, which could cause actual results to differ materially from these statements. Therefore, you should not rely on any of these forward-looking statements. Forward-looking statements can be identified by such words as "will," "likely," "may," "believe," "expect," "anticipate," "intend," "seek," "designed," "develop," "would," "future," "can," "could," and other expressions that are predictions of or indicate future events and trends and that do not relate to historical matters. All statements other than statements of historical facts included in this press release regarding our strategies, prospects, financial condition, operations, costs, plans, and objectives are forward-looking statements.</p> <table style="width:100%; border-collapse:collapse !important;;border-collapse: collapse; "><tr><td style="max-width:50%; width:50%; min-width:50%;;border-top: solid black 1pt ; border-right: solid black 1pt ; border-bottom: solid black 1pt ; border-left: solid black 1pt ; vertical-align: middle;   text-align: left;   padding-left: 10.0px; vertical-align: top ; ">For Investor Inquiries:<br /> Anika Therapeutics, Inc.<br /> Sylvia Cheung, 781-457-9000<br /> Chief Financial Officer<br /><u>investorrelations@anikatherapeutics.com</u> &#160;</td><td style="max-width:50%; width:50%; min-width:50%;;border-top: solid black 1pt ; border-right: solid black 1pt ; border-bottom: solid black 1pt ; vertical-align: middle;   text-align: left;   padding-left: 10.0px; vertical-align: top ; ">For Media Inquiries:<br /> W2O Group<br /> Jeremy Berrington, 312-241-1995 <br /><u>jberrington@w2ogroup.com</u></td></tr></table></p><p /></body></html>
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