BioSante Pharmaceuticals, Inc. has completed the merger with ANI Pharmaceuticals. Arthur S. Przybyl, BioSante’s new president and chief executive officer said, “This merger is the catalyst for potential future growth. We now have a strong balance sheet with over $10 million in cash and no debt. We expect to utilize the incremental cash available to us as a result of this merger to accelerate our product development efforts and for potential accretive acquisitions. In addition, we expect to receive royalty payments from sales of our FDA-approved testosterone gel product that is partnered with Teva, while exploring opportunities to derive value from BioSante’s other assets, including LibiGel. Our entire team is eager to continue building BioSante as an integrated specialty branded and generic pharmaceutical company for the benefit of our stakeholders. “
 
BioSante now operates under ANI’s management team. In addition to Mr. Przybyl, the new board of directors of BioSante includes: Robert E. Brown Jr., Tracy L. Marshbanks, Ph.D. Thomas A. Penn and Robert Schrepfer (formerly of ANI), as well as Fred Holubow and Ross Mangano (formerly of BioSante).