<SUBMISSION>
<ACCESSION-NUMBER>0001144204-18-014967
<TYPE>8-K
<PUBLIC-DOCUMENT-COUNT>4
<PERIOD>20180313
<ITEMS>1.01
<ITEMS>2.03
<ITEMS>5.02
<ITEMS>9.01
<FILING-DATE>20180315
<DATE-OF-FILING-DATE-CHANGE>20180315
<FILER>
<COMPANY-DATA>
<CONFORMED-NAME>Alliqua BioMedical, Inc.
<CIK>0001054274
<ASSIGNED-SIC>3841
<IRS-NUMBER>582349413
<STATE-OF-INCORPORATION>DE
<FISCAL-YEAR-END>1231
</COMPANY-DATA>
<FILING-VALUES>
<FORM-TYPE>8-K
<ACT>34
<FILE-NUMBER>001-36278
<FILM-NUMBER>18693233
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>1010 STONY HILL ROAD
<STREET2>SUITE 200
<CITY>YARDLEY
<STATE>PA
<ZIP>19067
<PHONE>215-702-8550
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>1010 STONY HILL ROAD
<STREET2>SUITE 200
<CITY>YARDLEY
<STATE>PA
<ZIP>19067
</MAIL-ADDRESS>
<FORMER-COMPANY>
<FORMER-CONFORMED-NAME>Alliqua, Inc.
<DATE-CHANGED>20101222
</FORMER-COMPANY>
<FORMER-COMPANY>
<FORMER-CONFORMED-NAME>HEPALIFE TECHNOLOGIES INC
<DATE-CHANGED>20030529
</FORMER-COMPANY>
<FORMER-COMPANY>
<FORMER-CONFORMED-NAME>ZETA CORP
<DATE-CHANGED>20030219
</FORMER-COMPANY>
</FILER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>tv488649_8k.htm
<DESCRIPTION>FORM 8-K
<TEXT>
<HTML>
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     <TITLE></TITLE>
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<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 12pt; margin-bottom: 3pt"><DIV STYLE="font-size: 1pt; border-top: Black 2pt solid; border-bottom: Black 1pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION<BR>
WASHINGTON, D.C. 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM 8-K</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CURRENT REPORT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Pursuant to Section 13 or 15(d) of the
</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Securities Exchange Act of 1934</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Date of Report (Date of earliest event reported):
March 13, 2018</P>

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<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Alliqua BioMedical, Inc.</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Exact Name of Registrant as Specified in its Charter)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

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<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 30%; text-align: center">Delaware</TD>
    <TD STYLE="width: 5%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 30%; text-align: center">001-36278</TD>
    <TD STYLE="width: 5%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 30%; text-align: center">58-2349413</TD></TR>
<TR STYLE="vertical-align: top">
    <TD ROWSPAN="2" STYLE="text-align: center"><FONT STYLE="font-size: 10pt">(State or other jurisdiction</FONT><BR>
<FONT STYLE="font-size: 10pt">of incorporation)</FONT></TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 10pt">(Commission File Number)</FONT></TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD ROWSPAN="2" STYLE="text-align: center"><FONT STYLE="font-size: 10pt">(IRS Employer</FONT><BR>
<FONT STYLE="font-size: 10pt">Identification No.)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="vertical-align: bottom; width: 65%; border-bottom: Black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">1010 Stony Hill Road</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Suite 200</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Yardley, Pennsylvania</P></TD>
    <TD STYLE="vertical-align: top; width: 5%; text-align: center; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 30%; border-bottom: Black 1pt solid; text-align: center">19067</TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">(Address of principal executive offices)</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-size: 10pt">(Zip Code)</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Registrant&rsquo;s telephone number, including
area code: (215) 702-8550</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="font: 10pt Times New Roman, Times, Serif; width: 50%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 100%; border-top: black 1pt solid; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">(Former name or former address, if changed since last report)</FONT></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">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:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD><TD><FONT STYLE="font-size: 10pt">Written communications
pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-indent: -0.75in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD><TD><FONT STYLE="font-size: 10pt">Soliciting material pursuant
to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-indent: -0.75in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD><TD><FONT STYLE="font-size: 10pt">Pre-commencement communications
pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 13.5pt; text-indent: -13.5pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings; font-size: 10pt">&uml;</FONT></TD><TD><FONT STYLE="font-size: 10pt">Pre-commencement communications
pursuant to Rule 13e-4 (c) under the Exchange Act (17 CFR 240.13e-4(c)</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Indicate by check mark whether the registrant
is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (&sect;230.405 of this chapter) or Rule 12b-2
of the Securities Exchange Act of 1934 (&sect;240.12b-2 of this chapter).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; text-indent: 0.5in">Emerging growth
company <FONT STYLE="font-family: Wingdings">&#168;</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">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. <FONT STYLE="font-family: Wingdings">&#168;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TD STYLE="width: 0in"></TD><TD STYLE="width: 1in; text-align: left"><B>Item 1.01</B></TD><TD><B>Entry into a Material Definitive Agreement.</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><I>&nbsp;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">On March 13, 2018, Alliqua BioMedical, Inc.
(the &ldquo;<B>Company</B>&rdquo;), AquaMed Technologies, Inc., a wholly owned subsidiary of the Company (the &ldquo;<B>Guarantor</B>&rdquo;),
and Perceptive Credit Holdings, L.P. (&ldquo;<B>Perceptive</B>&rdquo;) entered into an Amendment Agreement (the &ldquo;<B>Amendment
Agreement</B>&rdquo;), pursuant to which the parties agreed to certain amendments and modifications to the terms of the Credit
Agreement and Guaranty, dated May 29, 2015, by and among the Company, the Guarantor and Perceptive (the &ldquo;<B>Credit Agreement</B>&rdquo;).
The Amendment Agreement provides for, among other things, an additional bridge term loan to the Company in the aggregate principal
amount of $2,000,000 (the &ldquo;<B>Bridge Loan</B>&rdquo;) pursuant to a bridge loan note (the &ldquo;<B>Bridge Loan Note</B>&rdquo;).
Under the Amendment Agreement, the Company agreed to pay an upfront fee of $250,000 and all fees, costs and expenses payable pursuant
to the Credit Agreement (including reasonable attorney&rsquo;s fees of Perceptive). The Bridge Loan Note bears interest at a rate
per annum equal to the sum of (i) the greater of (x) LIBOR and (y) 1%, plus (ii) an applicable margin of 9.75%. The Bridge Loan
Note matures on the earlier of (i) April 30, 2018 and (ii) the closing date in connection with the previously announced Asset Purchase
Agreement, by and between the Company and Celularity Inc, dated January 5, 2018 (the &ldquo;<B>Asset Purchase Agreement</B>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The foregoing descriptions of the Amendment
Agreement and Bridge Loan Note do not purport to be complete and are qualified in their entirety by reference to the full text
of the Amendment Agreement and Bridge Loan Note, copies of which are attached hereto as Exhibit 10.1 and Exhibit 10.2, respectively,
and are incorporated herein by reference.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TD STYLE="width: 0in"></TD><TD STYLE="width: 1in; text-align: left"><B>Item 2.03</B></TD><TD><B>Creation of a Direct Financial Obligation or an Obligation
under an Off-Balance Sheet Arrangement of a Registrant.</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The information set forth under Item 1.01
of this Current Report on Form 8-K is hereby incorporated by reference into this Item 2.03.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TD STYLE="width: 0in"></TD><TD STYLE="width: 1in; text-align: left"><FONT STYLE="font-size: 10pt"><B>Item 5.02</B></FONT></TD><TD><FONT STYLE="font-size: 10pt"><B>Departure of Directors
or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.</B></FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">On March 15, 2018, Brian Posner delivered
his resignation as Chief Financial Officer, Secretary and Treasurer of the Company, effective April 1, 2018, to pursue another
professional opportunity. Mr. Posner will continue to serve as the Company&rsquo;s principal financial officer through April 1,
2018.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In connection with his resignation, on March
15, 2018, the Company and Mr. Posner entered into a general release and severance agreement (the &ldquo;<B>Separation Agreement</B>&rdquo;),
which becomes effective on the eighth day following execution without revocation. Pursuant to the Separation Agreement, Mr. Posner
released the Company from any and all claims. In consideration of the Separation Agreement and his general release of claims, Mr.
Posner is entitled (i) to his 2017 performance bonus in the amount of $118,310.40 (less applicable taxes and other withholdings),
and (ii) in the event of the final consummation of the Company&rsquo;s sale of substantially all of its assets to Celularity, Inc.
pursuant to the Asset Purchase Agreement, provided such transaction occurs on or before September 30, 2018 (the &ldquo;<B>Sale
Consummation</B>&rdquo;): (A) severance pay in an amount equal to his base salary for twelve (12) months, less applicable taxes
and other withholdings, payable in a lump sum payment on or before the thirtieth (30th) day following the date of the Sale Consummation,
and (B) the stock options and restricted stock previously granted to Mr. Posner: (1) shall remain outstanding and eligible for
vesting as if he were employed by the Company through the date of the Sale Consummation and shall become fully and immediately
vested upon the Sale Consummation, and (2) the stock options shall remain exercisable for two (2) years following April 1, 2018,
or, if sooner, until the end of the applicable stock option&rsquo;s term.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The foregoing description of the Separation
Agreement is qualified in its entirety by the full text of the Separation Agreement, which is attached hereto as Exhibit 10.3 and
is incorporated by reference herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">On March 15, 2018, the Company appointed
Joseph M. Warusz as its Chief Financial Officer, effective April 1, 2018. Mr. Warusz was not appointed pursuant to any arrangement
or understanding between the Mr. Warusz and the Company or any other person or entity.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Mr. Warusz, age 61, from 2011-2016, served
as the Vice-President Finance and Chief Financial Officer of Soligenix, Inc., with responsibility for financial and operational
leadership, developing and executing financing strategies, and all corporate governance and governmental compliance.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Mr. Warusz holds an MBA in finance and a
Bachelor of Science degree in accounting from Drexel University and is a certified public accountant.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 1in; text-align: left"><B>Item 9.01</B></TD><TD><B>Financial Statements and Exhibits.</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left">(d)</TD><TD>Exhibits</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="vertical-align: bottom; width: 15%; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>Exhibit Number</B></FONT></TD>
    <TD STYLE="vertical-align: top; width: 5%; text-align: justify">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 80%; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt"><B>Description</B></FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: center"><A HREF="tv488649_ex10-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">10.1</FONT></A></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD><A HREF="tv488649_ex10-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">Amendment Agreement, dated March 13, 2018, by and among Alliqua BioMedical, Inc., AquaMed Technologies, Inc. and Perceptive Credit Holdings, LP. </FONT></A></TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-align: center"><A HREF="tv488649_ex10-2.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">10.2</FONT></A></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD><A HREF="tv488649_ex10-2.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">Bridge Loan Note, dated March 13, 2018, by and among Alliqua BioMedical, Inc., AquaMed Technologies, Inc. and Perceptive Credit Holdings, LP.</FONT></A></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: center"><A HREF="tv488649_ex10-3.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">10.3</FONT></A></TD>
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD><A HREF="tv488649_ex10-3.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-size: 10pt">General Release and Severance Agreement, dated March 15, 2018, by and between Alliqua BioMedical, Inc. and Brian Posner.</FONT></A></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SIGNATURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt"><B>ALLIQUA BIOMEDICAL, INC.</B></FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 51%">&nbsp;</TD>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="width: 30%">&nbsp;</TD>
    <TD STYLE="width: 15%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">Dated: March 15, 2018</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">By: </FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid"><FONT STYLE="font-size: 10pt">/s/ Brian Posner</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Name: Brian Posner</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Title: &nbsp;&nbsp;Chief Financial Officer</FONT></TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>tv488649_ex10-1.htm
<DESCRIPTION>EXHIBIT 10.1
<TEXT>
<HTML>
<HEAD>
<TITLE></TITLE>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; text-indent: 0.5in"><B>Exhibit 10.1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.5in">AMENDMENT AGREEMENT</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This AMENDMENT AGREEMENT,
dated as of March 13, 2018 (this &#8220;<B><I>Agreement</I></B>&#8221;), is made by and among ALLIQUA BIOMEDICAL, INC., a Delaware
corporation (the &#8220;<B><I>Borrower</I></B>&#8221;), <FONT STYLE="font-size: 10pt; font-variant: small-caps">A</FONT><FONT STYLE="font-variant: small-caps">QUAMED
TECHNOLOGIES</FONT>, INC., a Delaware corporation (the &#8220;<B><I>Guarantor</I></B>&#8221;; each of the Borrower and the Guarantor
also is referred to herein individually as an &#8220;<B><I>Obligor</I></B>&#8221; and collectively as the &#8220;<B><I>Obligors</I></B>&#8221;),
and PERCEPTIVE CREDIT HOLDINGS, LP, a Delaware limited partnership (the &#8220;<B><I>Lender</I></B>&#8221;). Unless otherwise defined
herein or the context otherwise requires, terms used in this Agreement, including its preamble and recitals, have the meanings
provided in the Credit Agreement (defined below).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><U>W I T N E S S E T H</U>:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">WHEREAS, the Obligors
and the Lender are parties to that certain Credit Agreement and Guaranty, dated as of May 29, 2015 (as amended, restated, supplemented
or otherwise modified from time to time, the &#8220;<B><I>Credit Agreement</I></B>&#8221;);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">WHEREAS, Borrower and
Celularity, Inc. (<I>&#8220;<B>Purchaser</B></I>&#8221;) have entered into that certain Asset Purchase Agreement (the &#8220;<B><I>Purchase
Agreement</I>&#8221;)</B>, dated as of January 5, 2018, pursuant to which, among other things, the Purchaser will acquire certain
assets, liabilities and businesses of the Borrower (the &#8220;<B><I>Acquisition</I></B>&#8221;);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">WHEREAS, in that certain
Forbearance and Amendment Agreement (the &#8220;<B><I>Forbearance Agreement</I></B>&#8221;), dated as of February 5, 2018, the
Lender agreed, among other things, to refrain and forebear from exercising or pursuing any remedies with respect to certain Defaults
(the &#8220;<B><I>Specified Defaults</I></B>&#8221;) for a specified period of time, all on the terms and conditions set forth
therein; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">WHEREAS, among other
things, and in anticipation of the Acquisition, the Borrower has requested that the Lender make an additional bridge term loan
to the Borrower in the aggregate principal amount of $2,000,000 (the &#8220;<B><I>Bridge Loan</I></B>&#8221;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">NOW, THEREFORE, in
consideration of the mutual agreements, provisions and covenants contained herein, the parties hereto hereby agree as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><BR>
<FONT STYLE="text-transform: uppercase">ARTICLE I</FONT><BR>
<FONT STYLE="text-transform: uppercase">definitions</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">SECTION 1.01. <U>Definitions</U>.
The following terms (whether or not highlighted in bold and/or italics) when used in this Agreement, including its preamble and
recitals, shall have the following meanings (such definitions to be equally applicable to the singular and plural forms thereof):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&#8220;<B><I>Acquisition</I></B>&#8221;
is defined in the <U>second recital</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&#8220;<B><I>Agreement</I></B>&#8221; is
defined in the <U>preamble</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&#8220;<B><I>Authorized Officer</I></B>&#8221;
is defined in <U>Section 3.01(b)</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&#8220;<B><I>Borrower</I></B>&#8221; is
defined in the <U>preamble</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&#8220;<B><I>Bridge Loan</I></B>&#8221;
is defined in the <U>fourth recital</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&#8220;<B><I>Bridge Loan Effective Date</I></B>&#8221;
is defined in <U>Article III</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&#8220;<B><I>Credit Agreement</I></B>&#8221;
is defined in <U>first recital</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&#8220;<B><I>Effective Date Certificate</I></B>&#8221;
is defined in <U>Section 3.02</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&#8220;<B><I>Forbearance Agreement</I></B>&#8221;
is defined in the <U>third recital</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&#8220;<B><I>Guarantor</I></B>&#8221; is
defined in the <U>preamble</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&#8220;<B><I>Lender</I></B>&#8221; is defined
in the <U>preamble</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&#8220;<B><I>Obligor</I>&#8221; </B>is defined
in the <U>preamble</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&#8220;<B><I>Purchaser</I></B>&#8221; is
defined in the <U>second recital</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&#8220;<B><I>Purchase Agreement</I></B>&#8221;
is defined in the <U>second recital</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#8220;<B><I>Specified
Defaults</I></B>&#8221; is defined in the <U>third recital.</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><BR>
<FONT STYLE="text-transform: uppercase">ARTICLE II</FONT><BR>
<FONT STYLE="text-transform: uppercase">AMENDMENTs TO CREDIT AGREEMENT</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">SECTION 2.01. <U>Amendments
to the Credit Agreement</U>. On the terms and subject to the conditions set forth in <U>Article III</U> below, the Lender agrees
to make the Bridge Loan to the Borrower on the Bridge Loan Effective Date (as defined below). For all purposes of the Credit Agreement
(as subsequently amended or otherwise modified, including pursuant to this Agreement) and each other Loan Document, the Bridge
Loan shall be deemed to be a &#8220;Loan&#8221; made under and pursuant to the Credit Agreement, as so amended or otherwise modified,
including, without limitation, with respect to interest, fees, costs, expenses, maturity, representations and warranties, covenants,
Defaults, rights and remedies.&nbsp; In furtherance of the foregoing, as of the Bridge Loan Effective Date, and simultaneously
with the making of the Bridge Loan, the Credit Agreement shall be further amended as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
following new defined terms shall be added to <U>Section 1.1</U> of the Credit Agreement and inserted in their respective and appropriate
alphabetical order:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#8220;<U>Bridge Loan</U>&#8221;
means the $2,000,000 loan made by the Lender to the Borrower pursuant to the Bridge Loan Amendment on the Bridge Loan Amendment
Effective Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#8220;<U>Bridge Loan Amendment</U>&#8221;
means that certain Amendment&nbsp;Agreement, dated as of March 13, 2018, by and among the Obligors and the Lender.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#8220;<U>Bridge Loan
Amendment Effective Date</U>&#8221; means March 13, 2018.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
definitions of &#8220;<U>Closing Date</U>&#8221;, &#8220;<U>Loan</U>&#8221;, &#8220;<U>Loan Document</U>&#8221; and &#8220;<U>Maturity
Date</U>&#8221; set forth in <U>Section 1.1</U> of the Credit Agreement are each hereby amended and restated in their respective
entireties to read as follows:</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#8220;<U>Closing Date</U>&#8221;
means the date of the making of the initial Loan hereunder pursuant to <U>Section 2.1</U>, which shall coincide with the &#8220;Closing
Date&#8221; as defined in the Merger Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#8220;<U>Loan</U>&#8221; means
(i) the term loan made pursuant to <U>Section 2.1</U> on the Closing Date and (ii) the Bridge Loan made pursuant to the Bridge
Loan Amendment on the Bridge Loan Amendment Effective Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#8220;<U>Loan Documents</U>&#8221;
means, collectively, this Agreement (as subsequently amended or otherwise modified, including pursuant to the Bridge Loan Amendment),
the Notes, the Pledge and Security Agreement, the Copyright Security Agreement, the Patent Security Agreement, the Trademark Security
Agreement, the Warrant, the Subordination Agreement, each other agreement pursuant to which the Lender is granted a Lien to secure
the Obligations, the Commitment Letter and each other agreement, certificate, document or instrument delivered in connection with
any Loan Document, whether or not specifically mentioned herein or therein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#8220;<U>Maturity Date</U>&#8221;
means, (i) with respect to the Bridge Loan, the earlier of (x) April 30, 2018 and (y) the &#8220;Closing Date&#8221; (as defined
in the Asset Purchase Agreement, dated January 5, 2018, by and between Borrower and Celularity, Inc.) and, (ii) with respect to
all other Loans, the fourth anniversary of the Closing Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c) Section 3.2(h)
is hereby amended and restated in its entirety to read as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Any term or provision hereof
to the contrary notwithstanding, if any Loan made hereunder (other than any Bridge Loan) is repaid or prepaid for any reason on
or prior to the date that is three (3) years after the Closing Date (including repayments and prepayments made pursuant to clause
(b) through (g) above, but excluding, payments made pursuant to clause (a) of this Section 3.2), the Borrower shall pay the Early
Prepayment Fee to the Lender at the time of such prepayment, together with all other fees payable hereunder (if any), including
pursuant to Sections 3.7 and 3.8.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><FONT STYLE="text-transform: uppercase">ARTICLE
III</FONT><BR>
<FONT STYLE="text-transform: uppercase">conditions precedent</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This Agreement shall
become effective upon, and shall be subject to, the prior or simultaneous satisfaction of each of the following conditions in a
manner reasonably satisfactory to the Lender (the date when all such conditions are so satisfied being the &#8220;<B><I>Bridge
Loan Effective Date</I></B>&#8221;):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">SECTION 3.01. <U>Secretary&rsquo;s
Certificate, Etc.</U> The Lender shall have received from each Obligor, (i)&nbsp;a copy of a good standing certificate, dated a
date reasonably close to the Bridge Loan Effective Date, for each such Person and (ii)&nbsp;a certificate, dated as of the Bridge
Loan Effective Date, duly executed and delivered by such Person&#8217;s Secretary or Assistant Secretary, managing member or general
partner, as applicable, as to:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;resolutions
of each such Person&#8217;s board of directors (or equivalent managing body, in the case of a Person that is not a corporation)
then in full force and effect authorizing the</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">execution, delivery and performance of
this Agreement to be executed by such Person and the transactions contemplated hereby and thereby;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
incumbency and signatures of those of its officers, managing member or general partner, as applicable, authorized to act with respect
to this Agreement to be executed by such Person (each an &#8220;<B><I>Authorized Officer</I></B>&#8221;); and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
full force and validity of each Organic Document of such Person and copies thereof;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">upon which certificates
the Lender may conclusively rely until it shall have received a further certificate of the Secretary, Assistant Secretary, managing
member or general partner, as applicable, of any such Person cancelling or amending the prior certificate of such Person.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">SECTION 3.02. <U>Effective
Date Certificate</U>. The Lender shall have received a certificate, dated as of the Bridge Loan Effective Date and in form and
substance satisfactory to the Lender (the &#8220;<B><I>Effective Date Certificate</I></B>&#8221;), duly executed and delivered
by an Authorized Officer of the Borrower, in which certificate the Borrower shall agree and acknowledge, among other things, that
the statements made therein shall be deemed to be true and correct representations and warranties of the Borrower as of such date
in all material respects, and, at the time such certificate is delivered, such statements shall in fact be true and correct, and
such statements shall include that (i) both immediately before and after giving effect to the Bridge Loan, (x) the representations
and warranties set forth in this Agreement and each other Loan Document shall, in each case, be true and correct in all material
respects as of the Bridge Loan Effective Date and (y) no Default (other than the Specified Defaults) shall have then occurred and
be continuing, or would result from making the Bridge Loan on the Bridge Loan Effective Date, (ii) all of the conditions set forth
in this <U>Article III</U> have been satisfied, and (iii) the Obligors, taken as a whole, on a consolidated basis, immediately
before and after giving effect to the making of the Bridge Loan, are Solvent. All documents and agreements required to be appended
to the Effective Date Certificate, if any, shall be in form and substance satisfactory to the Lender, shall have been executed
and delivered by the requisite parties, and shall be in full force and effect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">SECTION 3.03. <U>Delivery
of New Notes</U>. The Lender shall have received a replacement Note for the Loans (including the Bridge Loan) duly executed and
delivered by an Authorized Officer of the Borrower.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">SECTION 3.04. <U>Opinions
of Counsel</U>. The Lender shall have received opinions, dated the Bridge Loan Effective Date and addressed to the Lender, from
Haynes and Boone, LLP.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">SECTION 3.05. <U>Costs
and Expenses, etc</U>. The Lender shall have received (i) a non-refundable $250,000 upfront fee (the &#8220;<B><I>Upfront Bridge
Fee</I></B>&#8221;), and (ii) all fees, costs and expenses due and payable pursuant to <U>Section 11.3</U> of the Credit Agreement
(including without limitation the reasonable fees and expenses of Morrison &amp; Foerster LLP, counsel to the Lender), if then
invoiced, together with any other fees separately agreed to by the Borrower and the Lender; <U>provided</U> that, if, and to the
extent any such fee, cost or expense is not invoiced prior to the Bridge Loan Effective Date, such fee, cost or expense shall be
due and payable by the Borrower to the Lender within one (1) Business Day after delivery to the Borrower of an invoice therefor;
<U>provided</U>, <U>further</U>, that the Upfront Bridge Fee and such other fees, costs and expenses may be deducted from the proceeds
of the Bridge Loan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">SECTION 3.06. <U>Representation,
Warranties, No Material Adverse Effect, etc</U>. The representations and warranties set forth in this Agreement and each other
Loan Document are true and correct in all material respects as of the Bridge Loan Effective Date (<U>provided</U> that any representations
and warranties that are by its terms qualified by materiality, Material Adverse Effect or similar qualification shall be true and
correct in all respects); no Default (other than the Specified Defaults) shall have occurred and be continuing, or could reasonably
be expected to occur as a result of making the Bridge Loan on the Bridge Loan Effective Date; and no Material Adverse Effect shall
have occurred since December 31, 2017.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">SECTION 3.07. <U>Satisfactory
Legal Form</U>. All documents executed or submitted pursuant hereto by or on behalf of the Borrower or any of its Subsidiaries
shall be satisfactory in form and substance to the Lender and its counsel, and the Lender and its counsel shall have received all
information, approvals, resolutions, opinions, documents or instruments as the Lender or its counsel may reasonably request.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="text-transform: uppercase">ARTICLE
IV</FONT><BR>
<FONT STYLE="text-transform: uppercase">Representations and Warranties</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">To induce the Lender
to enter into this Agreement, each Obligor represents and warrants to the Lender and each Lender as set forth below.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">SECTION 4.01. <U>Validity,
etc</U>. This Agreement and the Credit Agreement (after giving effect to this Agreement) each constitutes the legal, valid and
binding obligation of each Obligor, enforceable in accordance with its respective terms, subject to the effects of bankruptcy,
insolvency, fraudulent conveyance, reorganization, moratorium and other similar laws relating to or affecting creditors&#8217;
rights generally, general equitable principles (whether considered in a proceeding in equity or at law) and an implied covenant
of good faith and fair dealing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">SECTION 4.02. <U>Representations
and Warranties, etc</U>. Immediately prior to, and immediately after giving effect to, this Agreement the following statements
shall be true and correct:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;the
representations and warranties set forth in the Credit Agreement and each other Loan Document shall, in each case, be true and
correct in all respects with the same effect as if then made (unless stated to relate solely to an earlier date, in which case
such representations and warranties shall be true and correct in all material respects as of such earlier date); and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;no
Default or Event of Default (other than the Specified Defaults) shall have then occurred and be continuing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><FONT STYLE="text-transform: uppercase">ARTICLE V</FONT><BR>
<FONT STYLE="text-transform: uppercase">Confirmation</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">SECTION 5.01. <U>Reaffirmation</U>.
Each Obligor hereby consents to the modifications made to the Credit Agreement and each other Loan Document pursuant to this Agreement
and hereby agrees that, after giving effect to this Agreement, each Loan Document to which it is a party, and all Obligations thereunder
(including (i) the guarantees made pursuant to Article X of the Credit Agreement and (ii) those arising under the Forbearance Agreement),
are and shall continue to be</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">in full force and effect and the same are
hereby ratified in all respects, except that upon the occurrence of the Bridge Loan Effective Date, all references in such Loan
Documents to the &#8220;Credit Agreement&#8221;, &#8220;Loan Documents&#8221;, &#8220;thereunder&#8221;, &#8220;thereof&#8221;,
or words of similar import shall mean the Credit Agreement and the other Loan Documents, as amended or otherwise modified by this
Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">SECTION 5.02. <U>Validity,
etc</U>. Each Obligor hereby represents and warrants, as of the Bridge Loan Effective Date, that immediately after giving effect
to this Agreement, each Loan Document to which it is a party continues to be a legal, valid and binding obligation of such Obligor,
enforceable against such Person in accordance with its terms, subject to the effects of bankruptcy, insolvency, fraudulent conveyance,
reorganization, moratorium and other similar laws relating to or affecting creditors&#8217; rights generally, general equitable
principles (whether considered in a proceeding in equity or at law) and an implied covenant of good faith and fair dealing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><FONT STYLE="text-transform: uppercase">ARTICLE VI</FONT><BR>
<FONT STYLE="text-transform: uppercase">Miscellaneous</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">SECTION 6.01. <U>No
Waiver</U>. Each of the Lender&#8217;s and each Lender&#8217;s respective agreements not to pursue its respective rights and remedies
until the occurrence of the &#8220;Termination Date&#8221; as described in the Forbearance Agreement is temporary and limited in
nature. Except as expressly provided herein, (i) nothing contained herein shall be deemed to constitute a waiver of the Specified
Defaults or any other Default or Event of Default or compliance with any term or condition contained in the Credit Agreement or
any of the other Loan Documents or constitute a course of conduct or dealing among the parties and (ii) the Lender and each Lender
reserves all rights, privileges and remedies under the Credit Agreement, the Forbearance Agreement and the other Loan Documents.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">SECTION 6.02. <U>Severability</U>.
In case any provision of or obligation under this Agreement shall be invalid, illegal or unenforceable in any jurisdiction, the
validity, legality and enforceability of the remaining provisions or obligations, or of such provision or obligation in any other
jurisdiction, shall not in any way be affected or impaired thereby.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">SECTION 6.03. <U>Integration</U>.
This Agreement, together with the other Loan Documents, incorporates all negotiations of the parties hereto with respect to the
subject matter hereof and is the final expression and agreement of the parties hereto with respect to the subject matter hereof
and supersede any and all prior agreements, written or oral, with respect thereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">SECTION 6.04. <U>Cross-References;
Headings</U>. References in this Agreement to any Article or Section are, unless otherwise specified, to such Article or Section
of this Agreement. Headings and captions used in this Agreement are included for convenience of reference only and shall not be
given any substantive effect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">SECTION 6.05. <U>Loan
Document Pursuant to Credit Agreement</U>. This Agreement is a Loan Document executed pursuant to the Credit Agreement and shall
(unless otherwise expressly indicated therein) be construed, administered and applied in accordance with all of the terms and provisions
of the Credit Agreement, as amended hereby, including <U>Article XI</U> thereof and all rules of interpretation set forth in <U>Article
I</U> thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">SECTION 6.06. <U>Successors
and Assigns</U>. This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors
and permitted assigns.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">SECTION 6.07. <U>Counterparts</U>.
This Agreement may be executed in any number of counterparts, all of which taken together shall constitute one and the same instrument
and any of the parties hereto may execute this Agreement by signing any such counterpart.&nbsp; Delivery of an executed counterpart
of a signature page to this Agreement by facsimile (or other electronic transmission) shall be effective as delivery of a manually
executed counterpart of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">SECTION 6.08. <U>Governing
Law</U>. <FONT STYLE="text-transform: uppercase"><B>This AGREEMENT shall be governed by, and construed in accordance with, the
internal laws of the State of New York without regard to principles of conflicts of laws that would result in the application of
the laws of any other jurisdiction; provided that Section 5-1401 of the New York General Obligations Law shall apply.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">SECTION 6.09. <U>Full
Force and Effect; Limited Amendment</U>. The Obligors each jointly and severally agree that all of the representations, warranties,
terms, covenants, conditions and other provisions of the Credit Agreement and the other Loan Documents shall remain unmodified
and shall continue to be, and shall remain, in full force and effect in all respects.&nbsp; The agreements to forbear contained
in this Agreement shall be limited precisely as provided for herein to the Specified Defaults and shall not be deemed to be an
amendment to, waiver of, consent to or modification of any term or provision of the Credit Agreement or any other Loan Document
or of any transaction or further or future action on the part of any Obligor which would require the consent of the Lender or any
Lender under the Credit Agreement or any of the Loan Documents.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><I>[Signature pages to follow]</I></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">IN WITNESS WHEREOF, the parties hereto have
caused this Agreement to be duly executed and delivered as of the day and year first above written.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>BORROWER</B>:</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 56%">&nbsp;</TD>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="width: 40%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">ALLIQUA BIOMEDICAL, INC.,</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid">/s/ Brian Posner</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Name: Brian Posner</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Title: CFO</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>GUARANTOR</B>:</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">AQUAMED TECHNOLOGIES, INC.,</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid">/s/ Brian Posner</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Name: Brian Posner</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Title: CFO</FONT></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B><I>Signature Page to
Amendment Agreement</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt"><B>LENDER:</B></FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">PERCEPTIVE CREDIT HOLDINGS, LP</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">By Perceptive Credit Opportunities GP, LLC, </FONT><BR> <FONT STYLE="font-size: 10pt">its general partner</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; width: 40%">&nbsp;</TD>
    <TD STYLE="width: 56%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>By</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; border-bottom: Black 1pt solid">/s/ Sandeep Dixit</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line">Name: Sandeep Dixit</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line">Title: Chief Credit Officer</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>By</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line; border-bottom: Black 1pt solid">/s/ Sam Chawla</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line">Name: Sam Chawla</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt; layout-grid-mode: line">Title: Portfolio Manager</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><I>Signature Page to Amendment Agreement</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

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<DOCUMENT>
<TYPE>EX-10.2
<SEQUENCE>3
<FILENAME>tv488649_ex10-2.htm
<DESCRIPTION>EXHIBIT 10.2
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 10.2</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>BRIDGE LOAN NOTE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; font-size: 10pt"><FONT STYLE="font-size: 10pt">$2,000,000</FONT></TD>
    <TD STYLE="width: 50%; font-size: 10pt; text-align: right"><FONT STYLE="font-size: 10pt">March 13, 2018</FONT></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">FOR VALUE RECEIVED, ALLIQUA BIOMEDICAL,
INC., a Delaware corporation (the &ldquo;<U>Borrower</U>&rdquo;), promises to pay to PERCEPTIVE CREDIT HOLDINGS, LP (together with
any of its successors, transferees and assignees, the &ldquo;<U>Lender</U>&rdquo;) on the Maturity Date (as such date may be accelerated
pursuant to the Credit Agreement, defined below) the principal sum of TWO MILLION DOLLARS ($2,000,000.00) or, if less, the aggregate
unpaid principal amount of the Bridge Loan shown on the grid attached to this Bridge Loan Note (this &ldquo;<U>Note</U>&rdquo;)
as <U>Schedule A</U> (and any continuation thereof) made by the Lender pursuant to the Credit Agreement and Guaranty, dated as
of May 29, 2015 (as amended or otherwise modified from time to time, the &ldquo;<U>Credit Agreement</U>&rdquo;), by and among the
Borrower, each Guarantor party thereto and the Lender. Unless otherwise defined, capitalized terms used herein have the meanings
provided in the Credit Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Borrower also promises to pay interest
on the unpaid principal amount hereof from time to time outstanding from the date hereof until maturity (whether by acceleration
or otherwise) and, after maturity upon demand, until paid in full, at the rates per annum and on the dates specified in the Credit
Agreement, as well as any other amounts that may be due to the Lender upon maturity (whether by acceleration or otherwise) under
or in respect of this Note.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Payments of both principal and interest
are to be made in Dollars in same day or immediately available funds to the account designated by the Lender pursuant to the Credit
Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Borrower hereby irrevocably authorizes
the Lender to make (or cause to be made) appropriate notations on the grid attached to this Note as <U>Schedule A</U> (or on any
continuation of such grid), which notations, if made, shall evidence, <U>inter alia</U> the date of, the outstanding principal
amount of, and the interest rate and Interest Period applicable to the Bridge Loan evidenced hereby. Such notations shall be conclusive
and binding on the Borrower absent manifest error; <U>provided</U>, that the failure of the Lender to make any such notations shall
not limit or otherwise affect any Obligations of the Borrower or any Guarantors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">This Note is the Note referred to in, and
evidences Indebtedness incurred under, the Credit Agreement, to which reference is made for a description of the security for this
Note and for a statement of the terms and conditions on which the Borrower is permitted and required to make prepayments and repayments
of the unpaid principal amount of the Indebtedness evidenced by this Note and on which such Indebtedness may be declared to be
immediately due and payable. Any prepaid principal of this Note may not be reborrowed.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">All parties hereto, whether as makers, endorsers
or otherwise, severally waive presentment for payment, demand, protest and notice of dishonor.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">[SIGNATURE PAGE TO FOLLOW]</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>THIS NOTE HAS BEEN DELIVERED IN NEW YORK,
NEW YORK AND SHALL BE DEEMED TO BE A CONTRACT MADE UNDER AND GOVERNED BY THE INTERNAL LAWS OF THE STATE OF NEW YORK (INCLUDING
FOR SUCH PURPOSE SECTIONS&nbsp;5-1401 AND 5-1402 OF THE GENERAL OBLIGATIONS LAW OF THE STATE OF NEW YORK).</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt"><B>ALLIQUA BIOMEDICAL, INC.</B></FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 51%">&nbsp;</TD>
    <TD STYLE="width: 4%">&nbsp;</TD>
    <TD STYLE="font-size: 10pt; width: 35%">&nbsp;</TD>
    <TD STYLE="width: 10%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>By:</TD>
    <TD STYLE="font-size: 10pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">/s/ Brian Posner</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Name: Brian Posner</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 10pt">Title: CFO</FONT></TD>
    <TD>&nbsp;</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>



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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">SCHEDULE A</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">To Note</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">LOAN AND PRINCIPAL PAYMENTS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD ROWSPAN="2" STYLE="width: 7%; text-align: center; padding: 2pt; border-right: Black 1pt solid; border-left: Black 1pt solid; border-top: Black 1pt solid"><FONT STYLE="font-size: 10pt">Date</FONT></TD>
    <TD STYLE="vertical-align: top; width: 15%; text-align: center; padding: 2pt; border-top: Black 1pt solid"><FONT STYLE="font-size: 10pt">Amount of Loan Made</FONT></TD>
    <TD ROWSPAN="2" STYLE="width: 17%; text-align: center; padding: 2pt; border-right: Black 1pt solid; border-left: Black 1pt solid; border-top: Black 1pt solid"><FONT STYLE="font-size: 10pt">Interest Period</FONT></TD>
    <TD STYLE="vertical-align: top; width: 12%; text-align: center; padding: 2pt; border-top: Black 1pt solid"><FONT STYLE="font-size: 10pt">Amount of Principal Repaid</FONT></TD>
    <TD STYLE="vertical-align: top; width: 21%; text-align: center; padding: 2pt; border-right: Black 1pt solid; border-left: Black 1pt solid; border-top: Black 1pt solid"><FONT STYLE="font-size: 10pt">Unpaid Principal Balance</FONT></TD>
    <TD ROWSPAN="2" STYLE="width: 16%; text-align: center; padding: 2pt; border-top: Black 1pt solid"><FONT STYLE="font-size: 10pt">Total</FONT></TD>
    <TD ROWSPAN="2" STYLE="width: 12%; text-align: center; padding: 2pt; border-right: Black 1pt solid; border-left: Black 1pt solid; border-top: Black 1pt solid"><FONT STYLE="font-size: 10pt">Notation Made By</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center; padding: 2pt; border-top: Black 1pt solid"><FONT STYLE="font-size: 10pt">LIBO Rate</FONT></TD>
    <TD STYLE="text-align: center; padding: 2pt; border-top: Black 1pt solid"><FONT STYLE="font-size: 10pt">LIBO Rate</FONT></TD>
    <TD STYLE="text-align: center; padding: 2pt; border-right: Black 1pt solid; border-left: Black 1pt solid; border-top: Black 1pt solid"><FONT STYLE="font-size: 10pt">LIBO Rate</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 2pt; border: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="padding: 2pt; border-top: Black 1pt solid; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="padding: 2pt; border: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="padding: 2pt; border-top: Black 1pt solid; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="padding: 2pt; border: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="padding: 2pt; border-top: Black 1pt solid; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="padding: 2pt; border: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 2pt; border-right: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="padding: 2pt">&nbsp;</TD>
    <TD STYLE="padding: 2pt; border-right: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="padding: 2pt">&nbsp;</TD>
    <TD STYLE="padding: 2pt; border-right: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="padding: 2pt">&nbsp;</TD>
    <TD STYLE="padding: 2pt; border-right: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 2pt; border: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="padding: 2pt; border-top: Black 1pt solid; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="padding: 2pt; border: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="padding: 2pt; border-top: Black 1pt solid; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="padding: 2pt; border: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="padding: 2pt; border-top: Black 1pt solid; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="padding: 2pt; border: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 2pt; border-right: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="padding: 2pt">&nbsp;</TD>
    <TD STYLE="padding: 2pt; border-right: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="padding: 2pt">&nbsp;</TD>
    <TD STYLE="padding: 2pt; border-right: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="padding: 2pt">&nbsp;</TD>
    <TD STYLE="padding: 2pt; border-right: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 2pt; border: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="padding: 2pt; border-top: Black 1pt solid; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="padding: 2pt; border: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="padding: 2pt; border-top: Black 1pt solid; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="padding: 2pt; border: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="padding: 2pt; border-top: Black 1pt solid; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="padding: 2pt; border: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 2pt; border-right: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="padding: 2pt">&nbsp;</TD>
    <TD STYLE="padding: 2pt; border-right: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="padding: 2pt">&nbsp;</TD>
    <TD STYLE="padding: 2pt; border-right: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="padding: 2pt">&nbsp;</TD>
    <TD STYLE="padding: 2pt; border-right: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 2pt; border: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="padding: 2pt; border-top: Black 1pt solid; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="padding: 2pt; border: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="padding: 2pt; border-top: Black 1pt solid; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="padding: 2pt; border: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="padding: 2pt; border-top: Black 1pt solid; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="padding: 2pt; border: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 2pt; border-right: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="padding: 2pt">&nbsp;</TD>
    <TD STYLE="padding: 2pt; border-right: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="padding: 2pt">&nbsp;</TD>
    <TD STYLE="padding: 2pt; border-right: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="padding: 2pt">&nbsp;</TD>
    <TD STYLE="padding: 2pt; border-right: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 2pt; border: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="padding: 2pt; border-top: Black 1pt solid; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="padding: 2pt; border: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="padding: 2pt; border-top: Black 1pt solid; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="padding: 2pt; border: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="padding: 2pt; border-top: Black 1pt solid; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="padding: 2pt; border: Black 1pt solid">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<TYPE>EX-10.3
<SEQUENCE>4
<FILENAME>tv488649_ex10-3.htm
<DESCRIPTION>EXHIBIT 10.3
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 10.3</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>GENERAL RELEASE AND SEVERANCE AGREEMENT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">This General Release and Severance Agreement
(the &ldquo;Agreement&rdquo;), dated as of March 15, 2018, is made and entered into by and between Brian Posner and Alliqua Biomedical,
Inc. (&ldquo;Alliqua&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">For good and valuable consideration, receipt
of which is hereby acknowledged, in order to effect a mutually satisfactory and amicable separation of employment from Alliqua
and to resolve and settle finally, fully and completely all matters and disputes that now or may exist between them, as set forth
below, Brian Posner and Alliqua agree as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Parties
and Status</B>. The parties to this Agreement are Brian Posner, his heirs, representatives, successors and assigns (collectively
&ldquo;Employee&rdquo;), and Alliqua, and any of its parents, predecessors, successors, subsidiaries, affiliates or related companies,
owners, officers, directors, partners, employees, agents and/or representatives.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Separation
from Employment</B>. Effective April 1, 2018 (the &ldquo;Separation Date&rdquo;), Employee voluntarily ceases his employment with
Alliqua and relinquishes all positions, offices, and authority with Alliqua. Employee acknowledges and agrees, except for the payments
described hereunder, Employee has no rights to any other wages and other compensation or remuneration of any kind due or owed from
Alliqua, including, but not limited, to all wages, reimbursements, bonuses, advances, vacation pay, severance pay, vested or unvested
equity or stock options, awards, and any other incentive-based compensation or benefits to which Employee was or may become entitled
or eligible.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Employment
Agreement</B>. The employment agreement between the parties (together with all amendments thereto, the &ldquo;Employment Agreement&rdquo;)
has terminated forever and no party shall have any further obligation or liability thereunder, except that Employee acknowledges
and agrees that Article IV <B>Restrictive Covenants</B> of the Employment Agreement, and all provisions thereunder, shall remain
in full force and effect in accordance with their terms.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Consideration</B>.
In consideration of this Agreement and the release herein, and his compliance with his obligations hereunder, Alliqua will provide
Employee with the following: (i) the performance bonus for 2017, in the amount of $118,310.40, less applicable taxes and other
withholdings, payable in a lump sum payment on the earlier of: (A) the one hundred twentieth (120<SUP>th</SUP>) day following the
Separation Date, or (B) within thirty (30) days following the Sale Consummation (as defined below); and (ii)&nbsp;in the event
of the final consummation of Alliqua&rsquo;s sale of substantially all of its assets to Celularity, Inc. pursuant to the Asset
Purchase Agreement dated January 5, 2018, provided such transaction occurs on or before September 30, 2018 (the &ldquo;Sale Consummation&rdquo;):
(A) severance pay in an amount equal to Employee&rsquo;s Base Salary for twelve (12) months, less applicable taxes and other withholdings,
payable in a lump sum payment on or before the thirtieth (30th) day following the date of the Sale Consummation, <I>provided that</I>,
no severance under this Section 4(ii)(A) shall be payable if the Sale Consummation does not occur by September 30, 2018; and (B)
the stock options and restricted stock previously granted to Employee: (1) shall remain outstanding and eligible for vesting as
if Employee were employed by the Company through the date of the Sale Consummation and shall become fully and immediately vested
upon the Sale Consummation,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0">and (2) the stock options shall remain exercisable for two (2) years following the Separation Date
or, if sooner, until the end of the applicable stock option&rsquo;s term, <I>provided that</I>, if the Sale Consummation does not
occur by September 30, 2018, the accelerated vesting upon the Sale Consummation and the extended option term shall not apply. The
parties acknowledge that Employee has become eligible for comparable employer sponsored health plan benefits and accordingly the
parties have agreed that Alliqua shall not provide Employee with any continuing benefits or consideration for the costs thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Transition
Services</B>. Employee agrees to cooperate with Alliqua and perform such services as Alliqua may reasonably request relating to
the transition of his responsibilities and Alliqua&rsquo;s matters, files and materials.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Release
of Claims</B>. For and in consideration of the right to receive the consideration described in Section 4 of this Agreement, Employee
fully and irrevocably releases and discharges Alliqua, including all of its affiliates, parent companies, subsidiary companies,
employees, owners, directors, officers, principals, agents, insurers, and attorneys from any and all claims arising or existing
on, or at any time prior to, the date this Agreement is signed by Employee. Such released claims include, without limitation, claims
relating to or arising out of: (i) Employee&rsquo;s hiring, compensation, benefits and employment with Alliqua, (ii) Employee&rsquo;s
separation from employment with Alliqua, and (iii) all claims known or unknown or which could or have been asserted by Employee
against Alliqua, at law or in equity, or sounding in contract (express or implied) or tort, including claims arising under any
federal, state, or local laws of any jurisdiction that prohibit age, sex, race, national origin, color, disability, religion, veteran,
military status, pregnancy, sexual orientation, or any other form of discrimination, harassment, or retaliation, including, without
limitation, claims under the Age Discrimination in Employment Act; the Older Workers Benefit Protection Act; the Americans with
Disabilities Act; Title VII of the Civil Rights Act of 1964; the Rehabilitation Act; the Equal Pay Act; the Family and Medical
Leave Act, 42 U.S.C. &sect;1981; the Civil Rights Act of 1991; the Civil Rights Act of 1866 and/or 1871; the Occupational Safety
and Health Act; the Sarbanes Oxley Act; the Employee Polygraph Protection Act; the Uniform Services and Employment and Re-Employment
Rights Act; the Worker Adjustment Retraining Notification Act; the National Labor Relations Act and the Labor Management Relations
Act; the Pennsylvania Human Relations Act, and any other similar or equivalent state laws; the New Jersey Law Against Discrimination,
the New Jersey Conscientious Employee Protection Act, and any other similar or equivalent state laws; and any other federal, state,
local, municipal or common law whistleblower protection claim, discrimination or anti-retaliation statute or ordinance; claims
arising under the Employee Retirement Income Security Act; claims arising under the Fair Labor Standards Act; or any other statutory,
contractual or common law claims. Employee does not release Employee&rsquo;s right to enforce the terms of this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No
Interference</B>. Nothing in this Agreement is intended to interfere with Employee&rsquo;s right to report possible violations
of federal, state or local law or regulation to any governmental or law enforcement agency or entity (including, without limitation,
the Securities and Exchange Commission (the &ldquo;SEC&rdquo;)), or to make other disclosures that are protected under the whistleblower
provisions of federal or state law or regulation. Employee further acknowledges that nothing in this Agreement is intended to interfere
with Employee&rsquo;s right to file a claim or charge with, or testify, assist, or participate in an investigation, hearing, or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0">proceeding conducted by, the Equal Employment Opportunity Commission (the&nbsp;&ldquo;EEOC&rdquo;), any state human rights commission,
or any other government agency or entity. However, by executing this Agreement, Employee hereby waives the right to recover any
damages or benefits in any proceeding Employee may bring before the EEOC, any state human rights commission, or any other government
agency or in any proceeding brought by the EEOC, any state human rights commission, or any other government agency on Employee&rsquo;s
behalf with respect to any claim released in this Agreement; provided, however, for purposes of clarity, Employee does not waive
any right to any whistleblower award pursuant to Section 21F of the Securities Exchange Act of 1934 or any other similar provision.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Review
and Consultation.</B> &nbsp;Employee acknowledges that: (i) this Agreement is written in terms and sets forth conditions in a manner
which he understands; (ii) he has carefully read and understands all of the terms and conditions of this Agreement; (iii) he agrees
with the terms and conditions of this Agreement; and (iv) he enters into this Agreement knowingly and voluntarily.&nbsp; Employee
acknowledges that he does not waive rights or claims that may arise after the date this Agreement is executed, that he has been
given twenty-one (21) days from receipt of this Agreement in which to consider whether he wanted to sign it, that any modifications,
material or otherwise made to this Agreement do not restart or affect in any manner the original twenty-one (21) day consideration
period, and that Alliqua advises Employee to consult with an attorney before he signs this Agreement. &nbsp;Alliqua agrees, and
Employee represents that he understands, that he may revoke his acceptance of this Agreement at any time for seven (7) days following
his execution of the Agreement and must provide notice of such revocation by giving written notice to Alliqua. If not revoked by
written notice received on or before the eighth (8<SUP>th</SUP>) day following the date of his execution of the Agreement, this
Agreement shall be deemed to have become enforceable and on such eighth (8<SUP>th</SUP>) day.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Governing
Law/Venue</B>. This Agreement shall be governed by and construed under the laws of the State of Delaware. Venue of any litigation
arising from this Agreement or any disputes relating to the Employee&rsquo;s employment shall be in the United States District
Court for the District of Delaware, or a state district court of competent jurisdiction in New Castle County, Delaware. Employee
consents to personal jurisdiction of the United States District Court for the District of Delaware, or a state district court of
competent jurisdiction in New Castle County, Delaware for any dispute relating to or arising out of this Agreement or Employee&rsquo;s
employment, and Employee agrees that Employee shall not challenge personal or subject matter jurisdiction in such courts.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>10.</B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Voluntary.</B>
This Agreement is executed voluntarily and without any duress or undue influence on the part or behalf of the parties hereto. The
parties acknowledge that they have had ample opportunity to have this Agreement reviewed by the counsel of their choice.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>11.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Acknowledgment</B>.
Employee acknowledges and agrees that the consideration provided herein is consideration to which Employee is not otherwise entitled
except pursuant to the terms of this Agreement, and are being provided in exchange for Employee&rsquo;s compliance with his obligations
set forth hereunder.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>12.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No
Admission of Liability</B>. This Agreement shall not in any way be construed as an admission by Alliqua of any acts of wrongdoing
or violation of any statute, law or legal right.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>13.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Counterparts</B>.
This Agreement may be executed in separate counterparts, each of which <FONT STYLE="color: windowtext">shall be deemed to be an
original and all of which taken together shall constitute one and the same agreement. Delivery of an executed signature page of
this Agreement by facsimile or by electronic mail in portable document format (PDF) will be effective as delivery of a manually
executed signature page of this Agreement.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>14.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sole
Agreement and Severability</B>. Except as set forth herein, this Agreement is the sole, entire and complete agreement of the parties
relating in any way to the subject matter hereof. No statements, promises or representations have been made by any party to any
other party, or relied upon, and no consideration has been offered, promised, expected or held out other than as expressly set
forth herein, provided only that the release of claims in any prior agreement or release shall remain in full force and effect.
The covenants contained in this Agreement are intended by the parties hereto as separate and divisible provisions, and in the event
that any or all of the covenants expressed herein shall be determined by a court of competent jurisdiction to be invalid or unenforceable,
the remaining parts, terms or provisions of this Agreement shall not be affected and such provisions shall remain in full force
and effect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">PLEASE READ CAREFULLY. THIS GENERAL RELEASE AND SEVERANCE AGREEMENT
INCLUDES A RELEASE OF ANY AND ALL CLAIMS, KNOWN OR UNKNOWN, AGAINST ALLIQUA BIOMEDICAL, INC.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2">ALLIQUA BIOMEDICAL, INC.&#9;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">BRIAN POSNER</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%">&nbsp;</TD>
    <TD STYLE="width: 35%">&nbsp;</TD>
    <TD STYLE="width: 18%">&nbsp;</TD>
    <TD STYLE="width: 6%">&nbsp;</TD>
    <TD STYLE="width: 35%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid">/s/ David Johnson</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid">/s/ Brian Posner&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Title:</TD>
    <TD STYLE="border-bottom: Black 1pt solid">Chief Executive Officer</TD>
    <TD>&nbsp;</TD>
    <TD>Date:</TD>
    <TD STYLE="border-bottom: Black 1pt solid">March 15, 2018</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Date:</TD>
    <TD STYLE="border-bottom: Black 1pt solid">March 15, 2018</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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