AYTU BIOSCIENCE, INC. (OTCMKTS:AYTU) Files An 8-K Entry into a Material Definitive AgreementItem 1.01.
On June 11, 2018, Aytu BioScience, Inc. (the “Company”), entered into a license agreement (the “License Agreement”) with Magna Pharmaceuticals, Inc. (“Magna”). to the License Agreement, Magna granted to the Company an exclusive, sub-licensable, royalty-bearing license in the United States and Canada related to Zolpimist. The License Agreement may be terminated by either the Company or Magna on the occurrence of a material breach of the License Agreement and by the Company in its discretion upon a sixty (60) day prior written notice and the payment of a certain termination fee. As consideration for the license granted, the Company made a cash payment to Magna. Additionally, the Company will pay Magna certain royalty fees until 2025.
The Company expects to file the License Agreement as an exhibit to its Annual Report on Form 10-K for the fiscal year ending June 30, 2018, and intends to seek confidential treatment for certain terms and provisions of the License Agreement. The foregoing description of the License Agreement is qualified in its entirety by reference to the text of the License Agreement, when filed.
| Item 7.01 | Regulation FD Disclosure. |
On June 13, 2018, the Company issued a press release announcing the License Agreement. A copy of the press release is attached as Exhibit 99.1 and incorporated herein by reference.
In accordance with General Instruction B.2 of Form 8-K, the information in the press release attached as Exhibit 99.1 hereto shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), nor shall such information be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.
| Item 9.01 | Financial Statements and Exhibits. |
(d) The following exhibit is being filed herewith:
| Exhibit | Description |
| 99.1 | Press Release dated June 13, 2018 |
AYTU BIOSCIENCE, INC ExhibitEX-99.1 2 f8k061118ex99-1_aytubiosci.htm PRESS RELEASE DATED JUNE 13,…To view the full exhibit click here
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.
