Acerus Buys Back All Remaining U.S. Rights for NATESTO® From AytuAcerus Assumes Full NATESTO Ownership from Aytu BioPharma, Accelerating Path to Becoming Fully Integrated Specialty Pharmaceutical Company
TORONTO, April 01, 2021 (GLOBE NEWSWIRE) -- 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.”
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.
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