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

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

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

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

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

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

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

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

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center">Date of Report (date of earliest event
reported): <B>February 6, 2012</B></P>

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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    <TD STYLE="width: 6%; padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font-family: Wingdings 2">&#163;</FONT></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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    <TD STYLE="width: 6%; padding-right: 0.8pt; line-height: 115%"><FONT STYLE="font-family: Wingdings 2">&#163;</FONT></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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    <TD STYLE="width: 6%; padding-right: 1.6pt; line-height: 115%"><FONT STYLE="font-family: Wingdings 2">&#163;</FONT></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/normal 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%"><FONT STYLE="font-family: Wingdings 2">&#163;</FONT></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/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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

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

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

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Effective
February 6, 2012, C. Evan Ballantyne was appointed Chief Financial Officer of Adeona Pharmaceuticals,
Inc. (&ldquo;Adeona&rdquo; or the &ldquo;Company&rdquo;). In connection with his appointment, Mr. Ballantyne entered into a three-year employment
agreement with Adeona (the &ldquo;Ballantyne Employment Agreement&rdquo;).&nbsp;&nbsp;Pursuant to the Ballantyne Employment
Agreement, Mr. Ballantyne will be entitled to an annual base salary of $298,000 and will be eligible for discretionary
performance and transactional bonus payments.&nbsp;&nbsp;Additionally, Mr. Ballantyne was granted options to purchase 425,000
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
Ballantyne Employment Agreement also includes confidentiality obligations and inventions assignments by Mr. Ballantyne.</P>

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">If Mr. Ballantyne&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 Ballantyne Employment Agreement) or by Mr. Ballantyne for Good Reason (as defined in the Ballantyne Employment Agreement) then in
addition to paying the Accrued Obligations, (i) 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 (ii) 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 Ballantyne 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. Ballantyne, 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/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

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

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

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Effective February
6, 2012, C. Evan Ballantyne was appointed Chief Financial Officer of the Company.</P>

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

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify; background-color: white; text-indent: 0.5in">Mr.
Ballantyne joined Adeona as its Chief Financial Officer in February 2012. From 2006 until its acquisition in April 2011, Mr.
Ballantyne served as Executive Vice President and Chief Financial Officer of Clinical Data, Inc., a publicly-traded
biopharmaceutical company which was acquired by Forest Laboratories, Inc. for $1.3 billion. While at Clinical Data, he was
instrumental in leading corporate financings totaling approximately $220 million as well as a number of acquisition and
divestitures totaling $116 million. Mr. Ballantyne has also served as Chief Financial Officer of a number of private medical
technology companies, including Avedro and ZymeQuest. Earlier in his career, he served as Vice President and Chief Operating
Officer for ACNielsen Europe Middle East &amp; Africa and held the Chief Financial Officer position as well for two years.
There, Mr. Ballantyne was responsible for all aspects of operations, strategic planning and finance in more than 45 countries
for a corporation with 9,700 employees. He also helped lead the company's successful ISO certification process. He began his
career at the Dun &amp; Bradstreet Corporation where he held several senior financial positions. Mr. Ballantyne earned a BA
from the University of Western Ontario, and took a post-graduate degree in Business Administration with Honors from the
University of Windsor.</P>

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

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">There are no family
relationships between Mr. Ballantyne 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. Ballantyne that would
require disclosure under Item 404(a) of Regulation S-K.</P>

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

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

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 9pt; text-align: justify">&#9;On February 7, 2012 the Company
issued a press release announcing the appointment of Mr. Ballantyne as an executive officer. A copy of the press release is
attached as Exhibit 99.1 to this Current Report on Form 8-K.</P>

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

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

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

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

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

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The following exhibits
are being filed as part of this Report.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-family: Times New Roman, Times, Serif">
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    <TD STYLE="width: 18%">
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0.8pt 0 0; text-align: center"><B>Exhibit</B></P>
        <P STYLE="font: 10pt/normal 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/normal Times New Roman, Times, Serif; margin: 0 0.8pt 0 0">&nbsp;</P>
        <P STYLE="font: 10pt/normal 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%; font-size: 10pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%; font-size: 10pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0.8pt 0 0; text-align: center">10.1</P>
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0.8pt 0 0; text-align: center">&nbsp;</P></TD>
    <TD>
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0.8pt 0 0; text-align: justify">Employment Agreement, dated
        February 6, 2012, by and between C. Evan Ballantyne and the Company.*</P>
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0.8pt 0 0; text-align: justify">&nbsp;</P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; line-height: 115%; font-size: 10pt; text-align: center">99.1</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%; font-size: 10pt; text-align: justify">Press Release dated February 7, 2012.*</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; line-height: 115%; font-size: 10pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%; font-size: 10pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; line-height: 115%; font-size: 10pt; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%; font-size: 10pt; text-align: justify">*Filed herewith.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-right: 1.8pt; line-height: 115%; font-size: 10pt; text-align: justify">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify; text-indent: 0.5in"></P>

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

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

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

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

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

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

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

<P STYLE="font: 10pt/normal 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/normal 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 7, 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: 7%; padding-right: 0.8pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="width: 36%; 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 STYLE="padding-right: 1.6pt; line-height: 115%">&nbsp;</TD>
    <TD STYLE="padding-right: 1.6pt; line-height: 115%">Name: Jeff Riley</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%">&nbsp;</TD>
    <TD STYLE="padding-right: 1.6pt; line-height: 115%">Title: Chairman, President and</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%">&nbsp;</TD>
    <TD STYLE="padding-right: 1.6pt; line-height: 115%">Chief Executive Officer</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%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="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></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.8pt; line-height: 115%">&nbsp;</TD></TR>
</TABLE>
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<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: center"><B>EXHIBIT INDEX</B></P>

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

<P STYLE="font: 10pt/normal 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="width: 18%">
        <P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0 0.8pt 0 0; text-align: center"><B>Exhibit</B></P>
        <P STYLE="font: 10pt/normal 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/normal Times New Roman, Times, Serif; margin: 0 0.8pt 0 0">&nbsp;</P>
        <P STYLE="font: 10pt/normal 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%; text-align: center">&nbsp;</TD>
    <TD STYLE="padding-right: 0.8pt; line-height: 115%; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <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 6, 2012, by and between C. Evan Ballantyne and the Company.*</TD></TR>
<TR STYLE="vertical-align: top">
    <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 7, 2012.*</TD></TR>
<TR STYLE="vertical-align: top">
    <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>
<TR STYLE="vertical-align: top">
    <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">*Filed herewith.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2" STYLE="padding-right: 1.8pt; line-height: 115%; text-align: justify">&nbsp;</TD></TR>
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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": "12577731"}, "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 6, 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))
Item 1.01 Entry into a Material Definitive
Agreement
Effective
February 6, 2012, C. Evan Ballantyne was appointed Chief Financial Officer of Adeona Pharmaceuticals,
Inc. ("Adeona" or the "Company"). In connection with his appointment, Mr. Ballantyne entered into a three-year employment
agreement with Adeona (the "Ballantyne Employment Agreement").  Pursuant to the Ballantyne Employment
Agreement, Mr. Ballantyne will be entitled to an annual base salary of $298,000 and will be eligible for discretionary
performance and transactional bonus payments.  Additionally, Mr. Ballantyne was granted options to purchase 425,000
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
Ballantyne Employment Agreement also includes confidentiality obligations and inventions assignments by Mr. Ballantyne.
If Mr. Ballantyne'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 Ballantyne Employment Agreement) or by Mr. Ballantyne for Good Reason (as defined in the Ballantyne Employment Agreement) then in
addition to paying the Accrued Obligations, (i) 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 (ii) 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 Ballantyne 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. Ballantyne, 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.
The information
contained in this Item 1.01 regarding the Ballantyne Employment Agreement is qualified in its entirety by the copy of the agreement
attached to this Current Report on Form 8-K as Exhibit 10.1 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
6, 2012, C. Evan Ballantyne was appointed Chief Financial Officer of the Company.
Mr.
Ballantyne joined Adeona as its Chief Financial Officer in February 2012. From 2006 until its acquisition in April 2011, Mr.
Ballantyne served as Executive Vice President and Chief Financial Officer of Clinical Data, Inc., a publicly-traded
biopharmaceutical company which was acquired by Forest Laboratories, Inc. for $1.3 billion. While at Clinical Data, he was
instrumental in leading corporate financings totaling approximately $220 million as well as a number of acquisition and
divestitures totaling $116 million. Mr. Ballantyne has also served as Chief Financial Officer of a number of private medical
technology companies, including Avedro and ZymeQuest. Earlier in his career, he served as Vice President and Chief Operating
Officer for ACNielsen Europe Middle East & Africa and held the Chief Financial Officer position as well for two years.
There, Mr. Ballantyne was responsible for all aspects of operations, strategic planning and finance in more than 45 countries
for a corporation with 9,700 employees. He also helped lead the company's successful ISO certification process. He began his
career at the Dun & Bradstreet Corporation where he held several senior financial positions. Mr. Ballantyne earned a BA
from the University of Western Ontario, and took a post-graduate degree in Business Administration with Honors from the
University of Windsor.
In connection with
his appointment, Mr. Ballantyne entered into the Ballantyne Employment Agreement.   See Item 1.01 for a description of
the terms of the Ballantyne Employment Agreement.
There are no family
relationships between Mr. Ballantyne 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. Ballantyne that would
require disclosure under Item 404(a) of Regulation S-K.
Item 8.01 Other Events
On February 7, 2012 the Company
issued a press release announcing the appointment of Mr. Ballantyne as an executive officer. 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 6, 2012, by and between C. Evan Ballantyne and the Company.*
99.1
Press Release dated February 7, 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 7, 2012
ADEONA PHARMACEUTICALS, INC.
(Registrant)
By:
/s/ Jeff Riley
Name: Jeff Riley
Title: Chairman, President and
Chief Executive Officer
EXHIBIT INDEX
Exhibit
Number
Description
10.1
Employment Agreement, dated February 6, 2012, by and between C. Evan Ballantyne and the Company.*
99.1
Press Release dated February 7, 2012.*
*Filed herewith.