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

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

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

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

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Date of Report (date of earliest event reported):
<B>February 3, 2012</B></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Exact name of registrant as specified in charter)</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(State or other jurisdiction of incorporation)</P>

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

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    <TD STYLE="width: 50%; padding-right: 1.6pt; line-height: 115%; font-size: 10pt; font-weight: bold; text-align: center">01-12584</TD>
    <TD STYLE="width: 50%; padding-right: 1.6pt; line-height: 115%; font-size: 10pt; font-weight: bold; text-align: center">13-3808303</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 1.6pt; line-height: 115%; font-size: 10pt; text-align: center">(Commission File Number)</TD>
    <TD STYLE="padding-right: 1.6pt; line-height: 115%; font-size: 10pt; text-align: center">(IRS Employer Identification No.)</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>3985 Research Park Drive, Suite 200</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Ann Arbor, MI 48108</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Address of principal executive offices and
zip code)</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(734) 332-7800</B></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Former Name and Former Address)</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Check the appropriate box below if the Form
8-K filing is intended to simultaneously satisfy the filing obligation of registrant under any of the following provisions:</P>

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

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    <TD STYLE="width: 6%; padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="width: 6%; padding-right: 0.8pt; line-height: 115%">&#61608;</TD>
    <TD STYLE="width: 88%; padding-right: 0.8pt; line-height: 115%">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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    <TD STYLE="width: 6%; padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="width: 6%; padding-right: 0.8pt; line-height: 115%">&#61608;</TD>
    <TD STYLE="width: 88%; padding-right: 0.8pt; line-height: 115%">Soliciting material pursuant to Rule 14a-12(b) under the Exchange Act (17 CFR 240.14a-12)</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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    <TD STYLE="width: 6%; padding-right: 1.6pt; line-height: 115%">&#61608;</TD>
    <TD STYLE="width: 88%; padding-right: 1.6pt; line-height: 115%">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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    <TD STYLE="width: 6%; padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="width: 6%; padding-right: 1.6pt; line-height: 115%">&#61608;</TD>
    <TD STYLE="width: 88%; padding-right: 1.6pt; line-height: 115%">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Item 1.01 Entry into a Material Definitive
Agreement</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Effective February
3, 2012, Jeff Riley, age 49, was appointed Chief Executive Officer and President of Adeona Pharmaceuticals, Inc. (&ldquo;Adeona&rdquo;
or &ldquo;the Company&rdquo;). In connection with his appointment, Mr. Riley entered into a three-year employment agreement with
Adeona (the &ldquo;Riley Employment Agreement&rdquo;).&nbsp;&nbsp;Pursuant to the Riley Employment Agreement, Mr. Riley will be
entitled to an annual base salary of $348,000 and will be eligible for discretionary performance and transactional bonus payments.&nbsp;&nbsp;Additionally,
Mr. Riley was granted options to purchase 750,000 shares of the Company&rsquo;s common stock with an exercise price equal to the
Company&rsquo;s per share market price on the date of issue. These options will vest pro rata, on a monthly basis, over thirty-six
months.&nbsp;&nbsp;The Riley Employment Agreement also includes confidentiality obligations and inventions assignments by Mr. Riley.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">If Mr. Riley&rsquo;s
employment is terminated for any reason, he or his estate as the case may be, will be entitled to receive the accrued base salary,
vacation pay, expense reimbursement and any other entitlements accrued by him to the extent not previously paid (the &ldquo;Accrued
Obligations&rdquo;); <U>provided</U>, <U>however</U>, that if his employment is terminated (1) by the Company without Just Cause
(as defined in the Riley Employment Agreement) or by Mr. Riley for Good Reason (as defined in the Riley Employment Agreement) then
in addition to paying the Accrued Obligations, (x) the Company shall continue to pay his then current base salary and continue
to provide benefits at least equal to those which were provided at the time of termination for a period of six months and (y) he
shall have the right to exercise any vested options until the earlier of the expiration of the severance or the expiration of the
term of the option, or (2) by reason of his death or Disability (as defined in the Riley Employment Agreement), then in addition
to paying the Accrued Obligations, he would have the right to exercise any vested options until the expiration of the term of the
option. In such event, if Mr. Riley commenced employment with another employer and becomes eligible to receive medical or other
welfare benefits under another employer-provider plan, the medical and other welfare benefits to be provided by the Company as
described herein will terminate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Effective February
3, 2012, James S. Kuo, M.D., M.B.A. resigned from his positions as President and Chief Executive Officer of the Company. In connection
with his resignation, Dr. Kuo entered into a nine-month consulting agreement with Adeona (the &ldquo;Consulting Agreement&rdquo;).
Pursuant to the Consulting Agreement, Dr. Kuo will be entitled to a consulting fee of $16,666 per month during the term of the
Consulting Agreement, receive health and dental benefits for one year and retain the right to exercise the stock options of the
Company held by him that have vested as of the effective date of the Consulting Agreement for a period expiring on the date that
is one (1) year from the effective date of the Consulting Agreement. The Consulting Agreement also includes confidentiality obligations
and inventions assignments by Dr. Kuo.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">The information
contained in this Item 1.01 regarding the Riley Employment Agreement and the Consulting Agreement is qualified in its entirety
by the copy of each agreement attached to this Current Report on Form 8-K as Exhibits 10.1 and 10.2, respectively, and incorporated
herein by this reference.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Item 5.02 Departure of Directors
or Certain Officers; Election of Directors;</B> <B>Appointment of Certain Officers; Compensatory Arrangements of Certain</B> <B>Officers</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Effective February
3, 2012, Jeff Riley was appointed Chief Executive Officer and President of the Company, and resigned as a member of the nominating
and audit committees of the Board of Directors of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.5in; margin-right: 0; margin-left: 0">Mr. Riley has been a director
of the Company since March 16, 2010, and has served as Chairman since November 2011.<FONT STYLE="font-family: Times New Roman, Times, Serif">
</FONT>He has more than 20 years of experience in the biotechnology and pharmaceutical industries during which he negotiated numerous
worldwide strategic corporate alliances, established joint ventures, and assisted in obtaining venture financings to support product
development. Most recently, in addition to serving as Adeona&rsquo;s Chairman, where Mr. Riley played an integral role in the formation
of the Company&sup1;s recent collaboration with Intrexon Corporation, he served as Managing Director of 526 Ventures, a life science-focused
venture capital and advisory firm. Prior to this, he was a venture partner with QIC Bioventures Fund, the life science-focused
venture component of the $70 billion Australian-based Queensland Investment Corporation (QIC). Over his career, Mr. Riley held
senior positions within the mergers &amp; acquisitions and in country management groups at both SmithKline Beecham and Pfizer.
Additionally, he served as CFO and VP Corporate Development for Nichols Institute Diagnostics, a division of Quest Diagnostics,
Inc. (NYSE: DGX). Mr. Riley holds a Bachelor of Science degree in International Relations/Biology and participated in a dual-degree
graduate program (MBA/MIM) sponsored by Arizona State University and the Thunderbird School of Global Management.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">In connection with
his appointment, Mr. Riley entered into a three-year employment agreement with Adeona.&nbsp;&nbsp;See Item 1.01 for a description
of the terms of the Riley Employment Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">There are no family
relationships between Mr.Riley and any director, executive officer or person nominated or chosen by the Company to become as director
or executive officer.&nbsp;&nbsp;Additionally, there have been no transactions involving Mr. Riley that would require disclosure
under Item 404(a) of Regulation S-K.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-left: 0">On
February 3, 2012, Nelson K. Stacks and Scott L. Tarriff were appointed to the Board of Directors of the Company. As of the date
of this Report, Mr. Jeffrey J. Kraws, a current independent director of the Company, has been named to serve on the nominations
committee of the Board to replace Mr. Riley, and Mr. Stacks has been named to serve on the audit committee of the Board to replace
Mr. Riley. Mr. Stacks qualifies as an &ldquo;audit committee financial expert&rdquo; as that term is used in Section 407 of the
Sarbanes-Oxley Act of 2002. Messrs. Tarriff and Stacks are each independent in compliance with the applicable listing standards
of the NYSE Amex stock exchange. For their services as directors of the Company, Messrs. Stacks and Tarriff will receive the Company&rsquo;s
standard compensation applicable to nonemployee directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-left: 0">There
are no family relationships between either of Mr. Stacks or Mr. Tarriff and any director, executive officer or person nominated
or chosen by the Company to become as director or executive officer.&nbsp;&nbsp;Additionally, there have been no transactions involving
either Mr. Stacks or Mr. Tarriff that would require disclosure under Item 404(a) of Regulation S-K.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: 0.5in; margin-right: 0; margin-left: 0">Effective
February 3, 2012, James S. Kuo, M.D., M.B.A. resigned from his positions as President and Chief Executive Officer. Dr. Kuo remains
as a member of the Board of Directors of the Company. See Item 1.01 for a description of the terms of his Consulting Agreement
with the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Item 8.01 Other Events</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 45pt">On February 6, 2012 the Company issued
a press release announcing the appointment of Mr. Riley as an executive officer, and of Mr. Stacks and Mr. Tarriff as directors
of the Company and the resignation of Dr. Kuo as an executive officer of the Company. A copy of the press release is attached as
Exhibit 99.1 to this Current Report on Form 8-K.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Item 9.01 Financial Statements and
Exhibits</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt 0.5in; text-align: justify">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exhibits</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">The following exhibits
are being filed as part of this Report.</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: 18%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.8pt 0 0; text-align: center"><B>Exhibit</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.8pt 0 0; text-align: center"><B>Number</B></P></TD>
    <TD STYLE="width: 82%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.8pt 0 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.8pt 0 0"><B>Description</B></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD STYLE="padding-right: 0.8pt; line-height: 115%; text-align: center">10.1</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%; text-align: justify">Employment Agreement, dated February 3, 2012, by and between Jeff Riley and the Company.*</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-right: 0.8pt; line-height: 115%; text-align: center">10.2</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%; text-align: justify">Consulting Agreement dated February 3, 2012 by and between Dr. James S. Kuo and the Company.*</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD STYLE="padding-right: 0.8pt; line-height: 115%; text-align: center">99.1</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%; text-align: justify">Press Release dated February 6, 2012.*</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD COLSPAN="2" STYLE="padding-right: 1.8pt; line-height: 115%; text-align: justify">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">*Filed herewith.</P>

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

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

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">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: 0">&nbsp;</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="padding-right: 1.6pt; line-height: 115%">Dated:&nbsp;&nbsp;February 6, 2012</TD>
    <TD COLSPAN="2" STYLE="padding-right: 0.05in; line-height: 115%">ADEONA PHARMACEUTICALS, INC.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding-right: 0.05in; line-height: 115%">(Registrant)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 57%; padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="width: 3%; padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="width: 40%; padding-right: 0.8pt; line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 1.6pt; line-height: 115%">By:</TD>
    <TD STYLE="padding-right: 1.6pt; line-height: 115%; text-decoration: underline">/s/ Jeff Riley</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD COLSPAN="2">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.05in 0 0.5in">Name: Jeff Riley</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.05in 0 0.5in">Title: Chairman, President and Chief Executive Officer</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.05in 0 0">&nbsp;</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 57%; line-height: 115%">&nbsp;</TD>
    <TD STYLE="width: 43%; padding-right: 0.05in; line-height: 115%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 0.05in; line-height: 115%">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.05in 0 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.05in 0 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.05in 0 0">&nbsp;</P>

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

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        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.8pt 0 0; text-align: center"><B>Number</B></P></TD>
    <TD STYLE="width: 88%">
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        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.8pt 0 0"><B>Description</B></P></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD STYLE="padding-right: 0.8pt; line-height: 115%; text-align: center">10.1</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">Employment Agreement, dated February 3, 2012, by and between Jeff Riley and the Company.*</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-right: 0.8pt; line-height: 115%; text-align: center">10.2</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%; text-align: justify">Consulting Agreement dated February 3, 2012 by and between Dr. James S. Kuo and the Company.*</TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <TD STYLE="padding-right: 0.8pt; line-height: 115%; text-align: center">99.1</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%; text-align: justify">Press Release dated February 6, 2012.*</TD></TR>
<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding-right: 0.8pt; line-height: 115%; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%; text-align: justify">&nbsp;</TD></TR>
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    <TD STYLE="padding-right: 0.8pt; line-height: 115%; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%; text-align: justify">&nbsp;</TD></TR>
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    <TD COLSPAN="2" STYLE="padding-right: 1.8pt; line-height: 115%; text-align: justify">&nbsp;</TD></TR>
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    <TD COLSPAN="2" STYLE="padding-right: 1.8pt; line-height: 115%; text-align: justify">&nbsp;</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">*Filed herewith.</P>

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{"company-data": {"conformed-name": "ADEONA PHARMACEUTICALS, INC.", "cik": "0000894158", "assigned-sic": "2834", "irs-number": "133808303", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-12584", "film-number": "12573854"}, "business-address": {"street1": "3930 VARSITY DRIVE", "city": "ANN ARBOR", "state": "MI", "zip": "48108", "phone": "734-332-7800"}, "mail-address": {"street1": "3930 VARSITY DRIVE", "city": "ANN ARBOR", "state": "MI", "zip": "48108"}, "former-company": [{"former-conformed-name": "PIPEX PHARMACEUTICALS, INC.", "date-changed": "20061214"}, {"former-conformed-name": "SHEFFIELD PHARMACEUTICALS INC", "date-changed": "19970730"}, {"former-conformed-name": "SHEFFIELD MEDICAL TECHNOLOGIES INC", "date-changed": "19940606"}]}
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934
Date of Report (date of earliest event reported):
February 3, 2012
Adeona Pharmaceuticals, Inc.
(Exact name of registrant as specified in charter)
Nevada
(State or other jurisdiction of incorporation)
01-12584
13-3808303
(Commission File Number)
(IRS Employer Identification No.)
3985 Research Park Drive, Suite 200
Ann Arbor, MI 48108
(Address of principal executive offices and
zip code)
(734) 332-7800
(Registrant's telephone number including
area code)
N/A
(Former Name and Former Address)
Check the appropriate box below if the Form
8-K filing is intended to simultaneously satisfy the filing obligation of registrant under any of the following provisions:

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

Soliciting material pursuant to Rule 14a-12(b) under the Exchange Act (17 CFR 240.14a-12)

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
-
1
-
Item 1.01 Entry into a Material Definitive
Agreement
Effective February
3, 2012, Jeff Riley, age 49, was appointed Chief Executive Officer and President of Adeona Pharmaceuticals, Inc. ("Adeona"
or "the Company"). In connection with his appointment, Mr. Riley entered into a three-year employment agreement with
Adeona (the "Riley Employment Agreement").  Pursuant to the Riley Employment Agreement, Mr. Riley will be
entitled to an annual base salary of $348,000 and will be eligible for discretionary performance and transactional bonus payments.  Additionally,
Mr. Riley was granted options to purchase 750,000 shares of the Company's common stock with an exercise price equal to the
Company's per share market price on the date of issue. These options will vest pro rata, on a monthly basis, over thirty-six
months.  The Riley Employment Agreement also includes confidentiality obligations and inventions assignments by Mr. Riley.
If Mr. Riley's
employment is terminated for any reason, he or his estate as the case may be, will be entitled to receive the accrued base salary,
vacation pay, expense reimbursement and any other entitlements accrued by him to the extent not previously paid (the "Accrued
Obligations");
provided
,
however
, that if his employment is terminated (1) by the Company without Just Cause
(as defined in the Riley Employment Agreement) or by Mr. Riley for Good Reason (as defined in the Riley Employment Agreement) then
in addition to paying the Accrued Obligations, (x) the Company shall continue to pay his then current base salary and continue
to provide benefits at least equal to those which were provided at the time of termination for a period of six months and (y) he
shall have the right to exercise any vested options until the earlier of the expiration of the severance or the expiration of the
term of the option, or (2) by reason of his death or Disability (as defined in the Riley Employment Agreement), then in addition
to paying the Accrued Obligations, he would have the right to exercise any vested options until the expiration of the term of the
option. In such event, if Mr. Riley commenced employment with another employer and becomes eligible to receive medical or other
welfare benefits under another employer-provider plan, the medical and other welfare benefits to be provided by the Company as
described herein will terminate.
Effective February
3, 2012, James S. Kuo, M.D., M.B.A. resigned from his positions as President and Chief Executive Officer of the Company. In connection
with his resignation, Dr. Kuo entered into a nine-month consulting agreement with Adeona (the "Consulting Agreement").
Pursuant to the Consulting Agreement, Dr. Kuo will be entitled to a consulting fee of $16,666 per month during the term of the
Consulting Agreement, receive health and dental benefits for one year and retain the right to exercise the stock options of the
Company held by him that have vested as of the effective date of the Consulting Agreement for a period expiring on the date that
is one (1) year from the effective date of the Consulting Agreement. The Consulting Agreement also includes confidentiality obligations
and inventions assignments by Dr. Kuo.
The information
contained in this Item 1.01 regarding the Riley Employment Agreement and the Consulting Agreement is qualified in its entirety
by the copy of each agreement attached to this Current Report on Form 8-K as Exhibits 10.1 and 10.2, respectively, and incorporated
herein by this reference.
Item 5.02 Departure of Directors
or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain
Officers
Effective February
3, 2012, Jeff Riley was appointed Chief Executive Officer and President of the Company, and resigned as a member of the nominating
and audit committees of the Board of Directors of the Company.
Mr. Riley has been a director
of the Company since March 16, 2010, and has served as Chairman since November 2011.
He has more than 20 years of experience in the biotechnology and pharmaceutical industries during which he negotiated numerous
worldwide strategic corporate alliances, established joint ventures, and assisted in obtaining venture financings to support product
development. Most recently, in addition to serving as Adeona's Chairman, where Mr. Riley played an integral role in the formation
of the Company¹s recent collaboration with Intrexon Corporation, he served as Managing Director of 526 Ventures, a life science-focused
venture capital and advisory firm. Prior to this, he was a venture partner with QIC Bioventures Fund, the life science-focused
venture component of the $70 billion Australian-based Queensland Investment Corporation (QIC). Over his career, Mr. Riley held
senior positions within the mergers & acquisitions and in country management groups at both SmithKline Beecham and Pfizer.
Additionally, he served as CFO and VP Corporate Development for Nichols Institute Diagnostics, a division of Quest Diagnostics,
Inc. (NYSE: DGX). Mr. Riley holds a Bachelor of Science degree in International Relations/Biology and participated in a dual-degree
graduate program (MBA/MIM) sponsored by Arizona State University and the Thunderbird School of Global Management.
In connection with
his appointment, Mr. Riley entered into a three-year employment agreement with Adeona.  See Item 1.01 for a description
of the terms of the Riley Employment Agreement.
There are no family
relationships between Mr.Riley and any director, executive officer or person nominated or chosen by the Company to become as director
or executive officer.  Additionally, there have been no transactions involving Mr. Riley that would require disclosure
under Item 404(a) of Regulation S-K.
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2
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On
February 3, 2012, Nelson K. Stacks and Scott L. Tarriff were appointed to the Board of Directors of the Company. As of the date
of this Report, Mr. Jeffrey J. Kraws, a current independent director of the Company, has been named to serve on the nominations
committee of the Board to replace Mr. Riley, and Mr. Stacks has been named to serve on the audit committee of the Board to replace
Mr. Riley. Mr. Stacks qualifies as an "audit committee financial expert" as that term is used in Section 407 of the
Sarbanes-Oxley Act of 2002. Messrs. Tarriff and Stacks are each independent in compliance with the applicable listing standards
of the NYSE Amex stock exchange. For their services as directors of the Company, Messrs. Stacks and Tarriff will receive the Company's
standard compensation applicable to nonemployee directors.
There
are no family relationships between either of Mr. Stacks or Mr. Tarriff and any director, executive officer or person nominated
or chosen by the Company to become as director or executive officer.  Additionally, there have been no transactions involving
either Mr. Stacks or Mr. Tarriff that would require disclosure under Item 404(a) of Regulation S-K.
Effective
February 3, 2012, James S. Kuo, M.D., M.B.A. resigned from his positions as President and Chief Executive Officer. Dr. Kuo remains
as a member of the Board of Directors of the Company. See Item 1.01 for a description of the terms of his Consulting Agreement
with the Company.
Item 8.01 Other Events
On February 6, 2012 the Company issued
a press release announcing the appointment of Mr. Riley as an executive officer, and of Mr. Stacks and Mr. Tarriff as directors
of the Company and the resignation of Dr. Kuo as an executive officer of the Company. A copy of the press release is attached as
Exhibit 99.1 to this Current Report on Form 8-K.
Item 9.01 Financial Statements and
Exhibits
(d)           Exhibits
The following exhibits
are being filed as part of this Report.
Exhibit
Number
Description
10.1
Employment Agreement, dated February 3, 2012, by and between Jeff Riley and the Company.*
10.2
Consulting Agreement dated February 3, 2012 by and between Dr. James S. Kuo and the Company.*
99.1
Press Release dated February 6, 2012.*
*Filed herewith.
SIGNATURES
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.
Dated:  February 6, 2012
ADEONA PHARMACEUTICALS, INC.
(Registrant)
By:
/s/ Jeff Riley
Name: Jeff Riley
Title: Chairman, President and Chief Executive Officer
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EXHIBIT INDEX
Exhibit
Number
Description
10.1
Employment Agreement, dated February 3, 2012, by and between Jeff Riley and the Company.*
10.2
Consulting Agreement dated February 3, 2012 by and between Dr. James S. Kuo and the Company.*
99.1
Press Release dated February 6, 2012.*
*Filed herewith.