Item 1.01 Entry into a Material Definitive Agreement

On March 31, 2009, ULURU Inc., a Nevada corporation (the "Company"), entered into a Note Purchase Agreement (the "Agreement") with York Pharma, plc, a public limited company incorporated under the laws of England and Wales ("York"). The Agreement provides for a secured revolving credit facility of up to $1,000,000 (the "Facility"). The Facility is repayable, along with accrued interest, upon the earlier of (i) six (6) months from the date of the first drawdown under the Agreement and (ii) thirty (30) days after the termination of discussions with York regarding a potential strategic transaction. After the initial drawdown, any subsequent drawdowns under the Facility will be at the sole and absolute discretion of the Company. All loans made to York by the Company pursuant to the Agreement are secured by substantially all of the assets of York, including York's intellectual property.

The foregoing description of the Agreement does not purport to be complete and is qualified in its entirety by reference to the Agreement, which will be filed as an Exhibit to a Company filing with the Securities and Exchange Commission.