AYTU BIOSCIENCE, INC. (OTCMKTS:AYTU) Files An 8-K Entry into a Material Definitive Agreement

AYTU BIOSCIENCE, INC. (OTCMKTS:AYTU) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement.

On May 1, 2019, Aytu BioScience, Inc. (the Company) entered into an Independent Contractor Services Agreement (the Agreement) with Averaden, LLC (the Contractor). Under the terms of the Agreement, the Contractor agrees to perform certain consulting services with respect to corporate business development activities for the Company. In return, the Company has agreed to pay the Contractor $8,400 per month, which amount shall not exceed $110,000 in aggregate. The Agreement will terminate on May 15, 2020.
Gary Cantrell, a member of the board of directors (the Board) of the Company, is a Principal of the Contractor. As disclosed previously, Mr. Cantrell will continue to serve as a member of the Board and the Compensation Committee of the Company, but has resigned from the Companys Audit Committee in order to comply with the audit committee independence rules of Nasdaq and the Securities and Exchange Commission.
Item 9.01 Financial Statements and Exhibits.
(d) The following exhibit is being filed herewith:
AYTU BIOSCIENCE, INC Exhibit
EX-10.1 2 aytu_ex101.htm INDEPENDENT CONTRACTOR SERVICES AGREEMENT DATED AS OF MAY 1,…
To view the full exhibit click here

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About AYTU BIOSCIENCE, INC. (OTCMKTS:AYTU)

Aytu BioScience, Inc. is a commercial-stage healthcare company focused on acquiring, developing and commercializing products in the field of urology. The Company focuses on hypogonadism, prostate cancer, urinary tract infections and male infertility. The Company markets ProstaScint (capromab pendetide), a radio imaging agent indicated to detect the prostate specific membrane antigen (PSMA) in the assessment and staging of prostate cancer. The Company also markets Primsol (trimethoprim hydrochloride), a trimethoprim-only oral solution for urinary tract infections. The Company’s pipeline includes MiOXSYS, an in vitro diagnostic device. MiOXSYS system is a point-of-care semen analysis system, used for diagnosis and management of male infertility. The Company holds the United States rights to Natesto (testosterone), a formulation of testosterone delivered through a nasal gel. Natesto is used for the treatment of hypogonadism (low testosterone) in men.

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