Anika Unveils Initial Steps to a New Era of Corporate Governance

Anika Therapeutics, Inc. (NASDAQ: ANIK) is pleased to announce that it has filed its preliminary proxy materials with the Securities and Exchange Commission (“SEC”) in preparation for its 2023 Annual Meeting of Stockholders.

This event provides shareholders with the opportunity to engage in the Company’s progress and consider its future direction. While the exact date of the Annual Meeting has yet to be determined, shareholders are encouraged to stay informed and take part in the process when the time comes.

The Anika Board of Directors is proud to recommend the re-election of two new nominees to the Board: John Henneman, III and Susan Vogt. They join a Board of seven highly qualified individuals, all of whom bring a wealth of expertise in the areas most relevant to the Company’s business, such as orthopedics, medical devices and pharmaceuticals, R&D, innovation, commercial experience, manufacturing and financial oversight.

This marks the completion of a successful Board refreshment process, which included the appointment of five new independent directors since 2018, three of whom were appointed in the last three years.

Anika has made a successful transformation from a global leader in joint preservation to a business that focuses on early intervention orthopedics. This was made possible through strong cash flows from its OA pain management business and strategic investments in the joint preservation market.

This has increased the market opportunity from $1 billion to more than $8 billion. With over 30 years’ experience in the development of hyaluronic acid-based regenerative solutions, a diverse product portfolio, and a committed leadership team, Anika is now well-positioned to accelerate growth in 2023 and beyond.

Anika’s Board of Directors and management team have been engaging extensively with Caligan Partners LP (“Caligan”) for the past eight months. Caligan has proposed that the Company should exit the Joint Preservation and Restoration business and return capital to shareholders, while also initiating a strategic review process to sell the whole Company.

However, the Board of Directors believes that electing either of Caligan’s candidates would jeopardize the value of their shareholders’ investments in the Company.

The Anika Board of Directors is steadfast in its dedication to upholding the highest standards of integrity and always acting in the best interests of all shareholders. They strive to ensure the continued success of the Company and foster a long-term, mutually beneficial relationship with their stakeholders.

The Annual Meeting of 2023 is right around the corner, and it’s time for all eligible shareholders of Anika to get their WHITE proxy cards. Don’t be fooled by any proxy materials sent by Caligan – the Board of Anika recommends you toss those out and vote using the WHITE proxy cards you receive in the mail. Get ready to have your voice heard and make a difference at the Annual Meeting!

About Anika

At Anika Therapeutics, Inc., we’re dedicated to restoring active living through minimally invasive orthopedic treatments. Our expertise in hyaluronic acid and implant solutions has enabled us to create meaningful advancements in early intervention care, and our focus is on high opportunity spaces such as Osteoarthritis Pain Management, Regenerative Solutions, Sports Medicine, and Arthrosurface Joint Solutions.

Based in Boston, Massachusetts, we strive to provide our products in key sites of care, including ambulatory surgery centers, so that people around the world can benefit from our innovative solutions.

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