Aytu BioScience, Inc. Signs Exclusive License Agreement with Avrio Genetics, LLC
January 25, 2021 at 04:05 pm
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On January 20, 2021, Aytu BioScience, Inc., signed an Exclusive License Agreement to license the intellectual property surrounding the use and commercialization of their rapid in vitro diagnostic semen analysis test that accurately measures oxidative stress, including all components of the MiOXSYS commercial system. The Agreement has been entered into with Avrio Genetics, LLC (Avrio Genetics). Under this Agreement, Avrio Genetics will purchase existing inventory, commercialize, and market the Product under a royalty on Product net sales with a minimum annual payment fee structure for a term of ten (10) years, with the term continuing in perpetuity with a fixed royalty rate based on Product sales payable annually to the Company. The Company will continue to own the intellectual property in the Product, with Avrio Genetics bearing all related patent maintenance and prosecution fees, commercial expenses, and regulatory fees. Further, Avrio Genetics will foster and expand all related customer, manufacturing, marketing, and distribution relationships in their effort to increase the commercialization of the Product. With Avrio's assumption of the Product-related expenses and management of the Product programs, the Company expects to eliminate expenses associated with the Product while maintaining future revenue potential in the form of royalty and minimum annual payments from Avrio Genetics.
Aytu BioPharma, Inc. is a pharmaceutical company commercializing a portfolio of commercial prescription therapeutics and consumer health products. The Companyâs Rx segment consists of prescription pharmaceutical products and the Consumer Health segment consists of various consumer healthcare products (the Consumer Health Portfolio). The Companyâs prescription products include Adzenys XR-ODT (amphetamine) extended-release orally disintegrating tablets and Cotempla XR-ODT (methylphenidate) extended-release orally disintegrating tablets for the treatment of attention deficit hyperactivity disorder (ADHD); Karbinal ER (carbinoxamine maleate), an extended-release antihistamine suspension indicated to treat numerous allergic conditions; and Poly-Vi-Flor and Tri-Vi-Flor, two complementary fluoride-based prescription vitamin product lines available in various formulations for infants and children with fluoride deficiency. Its Consumer Health Segment addresses a range of common conditions.