AYTU BIOSCIENCE, INC. (OTCMKTS:AYTU) Files An 8-K Other Events
Item 8.01 Other Events
AYTU BIOSCIENCE, INC. (OTCMKTS:AYTU) Files An 8-K Other Events
On March 13, 2020, Aytu BioScience, Inc. (the “Company”), signed an Addendum to a distribution agreement previously signed March 9, 2020 (the “Addendum”) for the right to commercialize a clinically validated and commercially used coronavirus 2019 (COVID-19) IgG/IgM Rapid Test. The test has been licensed from L.B. Resources, Limited (a Hong Kong Corporation). The test is intended for professional use and delivers clinical results between 2 and 10 minutes at the point-of-care. This Addendum grants Aytu the additional rights to distribute the product in both Canada and Mexico for a period of three years, with additional three-year autorenewals thereafter. The Company expects to pursue expedited regulatory clearance of the product with Health Canada and COFEPRIS (Comisión Federal para la Protección contra Riesgos Sanitarios), the regulatory agencies in Canada and Mexico, respectively.
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.