Alliqua Announces Ticker Symbol Change to "ALQA” Effective January 5th

Alliqua, Inc. ("Alliqua”), an advanced biomedical products company focused on the development and manufacturing of proprietary drug delivery and liver health technologies, today announced that the company’s ticker symbol as quoted on the OTC Bulletin Board will be changed from OTCBB:HPLF to OTCBB:ALQA effective tomorrow, January 5, 2011.

Alliqua received notification from the Financial Industry Regulatory Authority (FINRA) that the company’s name change from HepaLife Technologies, Inc. to Alliqua, Inc. and symbol change were formally approved. As previously announced, Alliqua’s corporate name was legally changed effective December 20, 2010.

Alliqua also announced that the CUSIP number for its common stock is 019621101 and its ISIN number is US0196211017.

"In order to more accurately reflect our emerging solutions in the fields of drug delivery and advanced wound care, we have changed our corporate name to Alliqua, Inc. and our symbol to ALQA,” stated Richard Rosenblum, President and Director at Alliqua. "In conjunction with our new branding, we have launched a new website at Alliqua.com. There you will find a wealth of information on our company, our proprietary technologies and our growth strategies going forward. We encourage you to follow Alliqua’s news and information flow as we continue to enhance our awareness in the capital markets and strengthen our strategic and corporate governance initiatives.”

For more information on Alliqua, please navigate to www.alliqua.com for the company’s new corporate website:

About Alliqua Inc.

Alliqua, Inc. ("Alliqua”), formerly HepaLife Technologies, Inc., is an advanced biomedical products company focused on the development and manufacturing of proprietary technologies in the fields of drug delivery, advanced wound care and liver health preservation. Through its wholly-owned subsidiary, Alliqua BioMedical, Inc., Alliqua intends to develop active ingredient and transdermal drug delivery products, primarily utilizing the proprietary hydrogel technology platform of AquaMed Technologies, Inc. ("AquaMed”), Alliqua’s subsidiary.

AquaMed manufactures custom hydrogels used for transdermal drug delivery, wound care, medical diagnostics, and cosmetics. These products use proprietary manufacturing technologies which enable AquaMed to produce what is known in the healthcare industry as high water content, electron beam cross-linked aqueous polymer sheet hydrogels. AquaMed believes that it is one of two known manufacturers in the world for these gels. Alliqua’s third subsidiary, HepaLife Biosystems, Inc., focuses on the development of a cell-based bioartificial liver system, known as HepaMate™.

Any statements contained in this press release regarding our ongoing research and development and the results attained by us to-date have not been evaluated by the Food and Drug Administration.

For additional information, please visit www.alliqua.com and www.aquamedinc.com.

To receive future press releases via email, please visit: http://alliqua.com/index.php?page=investor-alerts

Legal Notice Regarding Forward-Looking Statements

This release contains forward-looking statements that are based upon current expectations or beliefs, as well as a number of assumptions about future events. Although we believe that the expectations reflected in the forward-looking statements and the assumptions upon which they are based are reasonable, we can give no assurance that such expectations and assumptions will prove to have been correct. Forward-looking statements are generally identifiable by the use of words like "may,” "will,” "should,” "could,” "expect,” "anticipate,” "estimate,” "believe,” "intend,” or "project” or the negative of these words or other variations on these words or comparable terminology. The reader is cautioned not to put undue reliance on these forward-looking statements, as these statements are subject to numerous factors and uncertainties, including but not limited to adverse economic conditions, intense competition, lack of meaningful research results, entry of new competitors and products, adverse federal, state and local government regulation, inadequate capital, termination of contracts or agreements, technological obsolescence of our products, technical problems with our research and products, price increases for supplies and components, inability to carry out research, development and commercialization plans, loss or retirement of key executives and research scientists and other specific risks. We currently have no commercial products intended to diagnose, treat, prevent or cure any disease. The statements contained in this press release regarding our ongoing research and development and the results attained by us to-date have not been evaluated by the Food and Drug Administration. There can be no assurance that further research and development, and /or whether clinical trial results, if any, will validate and support the results of our preliminary research and studies. Further, there can be no assurance that the necessary regulatory approvals will be obtained or that we will be able to develop new products on the basis of our technologies. In addition, other factors that could cause actual results to differ materially are discussed in our Current Report on Form 8-K filed with the SEC on May 17, 2010 and our most recent Form 10-Q and Form 10-K filings with the SEC. Investors and security holders are urged to read these documents free of charge on the SEC's web site at www.sec.gov. We undertake no obligation to publicly update or revise our forward-looking statements as a result of new information, future events or otherwise.