Acerus Completes NATESTO U.S. Transition

TORONTO--(BUSINESS WIRE)--Acerus Pharmaceuticals Corporation (TSX:ASP) today announced the completion of the NATESTO® U.S. transition from an affiliate of Endo International plc (NASDAQ:ENDP) (TSX:ENL) back to Acerus, and subsequently to Aytu BioScience, Inc. (OTCQX:AYTU). Aytu will now assume responsibility for the U.S. commercialization of NATESTO®, the first and only FDA-approved testosterone nasal gel indicated for replacement therapy in adult males diagnosed with hypogonadism.

“Acerus is proud to officially announce Aytu BioScience as our NATESTO® partner for the U.S. market”

Pursuant to the transition agreement between Acerus and Endo, both parties have also entered into an agreement related to the $4.3 million of unused pre-paid inventory owed to Endo following the termination of the NATESTO® agreement. A $0.5 million cash payment was paid to Endo on July 5^th, 2016 and the remaining $3.8 million principal amount is subject to a promissory note with a maturity date of June 30^th, 2020.

“Acerus is proud to officially announce Aytu BioScience as our NATESTO® partner for the U.S. market,” stated Tom Rossi, President and Chief Executive Officer of Acerus. “We share in the excitement and passion displayed by Aytu’s management team as they gear up to launch the product this month. We wish them the best of luck with their launch plans and look forward to celebrating their many successes.”

About Acerus

Acerus Pharmaceuticals Corporation is a Canadian pharmaceutical company focused on the development, manufacture, marketing and distribution of innovative, branded products that improve the patient experience.

Acerus markets ESTRACE® in Canada, a product indicated for the symptomatic relief of menopausal symptoms. NATESTO™, a product utilizing an Acerus licensed nasal gel technology, is the first and only testosterone nasal gel approved in Canada, and available in the United States for replacement therapy in adult males diagnosed with hypogonadism. GYNOFLOR™, a product licensed to Acerus in Canada by Medinova AG and approved in 40 countries worldwide, is an ultra-low dose vaginal estrogen therapy with the addition of lactobacillus, for the treatment of atrophic vaginitis, certain vaginal infections and/or to restore a healthy vaginal environment. TEFINA™, a ‘use as required’ nasal testosterone gel, is an Acerus drug development candidate aimed at addressing a significant unmet need for women with female sexual dysfunction.

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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 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 1, 2016 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.