Acerus Buys Back All Remaining U.S. Rights for NATESTO® From Aytu
April 01 2021 - 6:30AM
Acerus Pharmaceuticals Corporation (TSX: ASP, OTCQB: ASPCF)
(“Acerus” or the “Company”), a specialty pharmaceutical company
focused on the commercialization of novel prescription products in
Men’s Health, today announced the signing of an agreement with Aytu
BioPharma (f/k/a Aytu BioScience), whereby Acerus bought back all
remaining rights to NATESTO in the U.S. that were not already
returned to Acerus as part of the 2019 Amended and Restated
Agreement with Aytu. Acerus launched promotional efforts to key
Urology and Endocrinology specialists in August of 2020. Following
early growth in the specialty segment, assuming full ownership of
NATESTO fulfills Acerus’ mission to build and leverage a robust
commercial business unit in the U.S.
Acerus has agreed to purchase these rights from
Aytu for $7.5 million USD, paid evenly over 30 monthly installments
and will assume all product responsibilities following the
effective date. Acerus expects these payments to be funded from net
revenues generated by NATESTO. In addition to Acerus detailing to
Specialty HCPs, Acerus will now gain full distribution rights and
full reporting of net revenues. To ensure a smooth transition, Aytu
has agreed to assist Acerus throughout a 120-day Transition period
from the effective date. During this transition period, Aytu will
continue to provide distribution of NATESTO under the terms of the
existing License and Supply Agreement.
“Purchasing the full rights for NATESTO in the
U.S. allows us to continue our transformation into becoming a
leading innovative specialty pharmaceutical company,” said Ed
Gudaitis, President and Chief Executive Officer of Acerus. “Owning
distribution in the U.S. is a key step in our transformation,
providing us with the opportunity and flexibility to maximize the
value and clinical differentiation of NATESTO.”
About Acerus
Acerus Pharmaceuticals Corporation is a
Canadian-based specialty pharmaceutical company focused on the
commercialization and development of innovative prescription
products that improve patient experience, with a primary focus in
the field of men’s health. The Company commercializes its products
via its own salesforce in the United States and Canada, and through
a global network of licensed distributors in other territories.
Acerus’ shares trade on TSX under the symbol ASP
and on OTCQB under the symbol ASPCF. For more information, visit
www.aceruspharma.com and follow us on Twitter and
LinkedIn.
Notice Regarding Forward-Looking
Statements
Information in this press release that is not
current or historical factual information may constitute forward
looking information within the meaning of securities laws. Implicit
in this information are assumptions regarding our future
operational results. These assumptions, although considered
reasonable by the company at the time of preparation, may prove to
be incorrect. Readers are cautioned that actual performance of the
company, including with respect to the commercial success of
NATESTO in the U.S., is subject to a number of risks and
uncertainties, and could differ materially from what is currently
expected as set out above. For more exhaustive information on these
risks and uncertainties you should refer to our annual information
form dated March 10, 2021 which is available at www.sedar.com.
Forward-looking information contained in this press release is
based on our current estimates, expectations and projections, which
we believe are reasonable as of the current date. You should not
place undue importance on forward-looking information and should
not rely upon this information as of any other date. While we may
elect to, we are under no obligation and do not undertake to update
this information at any particular time, whether as a result of new
information, future events or otherwise, except as required by
applicable securities law.
Company Contactir@aceruspharma.com
Investor Relations ContactChris WittyAcerus
Investor Relations (646) 438-9385cwitty@darrowir.com
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