ENGLEWOOD, Colo., June 2, 2015 /PRNewswire/ -- Rosewind Corporation (OTCQB: RSWN) announced that, after necessary state filings, the company will be known as Aytu BioScience, Inc., a specialty healthcare company focused on developing treatments for urological and related conditions. The corporate name change was approved by shareholders at a special meeting of Rosewind Corp. shareholders held on June 1, 2015.
Josh Disbrow, Chief Executive Officer of the Company, commented, "We are excited to announce the upcoming official corporate name change and the rebranding of our company within the specialty pharmaceuticals industry. With our current management team, we believe we are well positioned to replicate with Aytu our previous success with pharmaceutical companies, relying on our proven track record for building successful commercial-stage specialty healthcare companies. The name Aytu is meant to reflect this concept by combining the strengths and experience gained at our two previous 'A' companies: Arbor Pharmaceuticals, which we founded, built into a revenue-generating enterprise, and successfully sold; and Ampio Pharmaceuticals, from which our two current assets were originally developed. We look forward to building immediate value for Aytu by accelerating our internal asset development and seeking to acquire complementary urological products."
In addition to the name change, Rosewind shareholders approved the Company's reincorporation in the State of Delaware from the current State of Colorado, as well as a 12.174 to 1 reverse split of the Company's common stock and adoption of an employee stock option plan. The details of these items can be found in a Form 8-K filed today with the SEC. Additionally, and subject to FINRA approval, the company ticker is expected to change from RSWN to AYTU, and will continue to trade on the OTCQB Marketplace. The reverse stock split, name change and ticker change are expected to occur as soon as June 8, following necessary state and FINRA filings.
About Rosewind Corporation
Rosewind Corporation is a specialty healthcare company focused on developing treatments for urological and related conditions. The Company is currently completing Phase 3 clinical development for its lead therapeutic candidate Zertane™, an orally disintegrating tablet (ODT) formulated specifically for the on-demand treatment of premature ejaculation (PE). The Company's therapeutic pipeline is supported in part by its first-in-class RedoxSYS® System, which provides the only complete assessment of patients' redox status and enables identification of a broad variety of disorders where redox is implicated. Initial studies are underway utilizing the RedoxSYS system in male fertility. The Company also recently acquired and expects to commercialize FDA-approved ProstaScint® (capromab pendetide), a radio-labeled monoclonal antibody, that targets Prostate Specific Membrane Antigen (PSMA), a protein uniquely expressed by prostate tissue. The Company's strategy is to develop its core therapeutic and diagnostic assets while building an innovative pipeline of established marketed products and late-stage development assets.
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Forward Looking Statements
This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, or the Exchange Act. All statements other than statements of historical facts contained in this presentation, including statements regarding our anticipated future clinical and regulatory events, future financial position, business strategy and plans and objectives of management for future operations, are forward-looking statements. Forward looking statements are generally written in the future tense and/or are preceded by words such as "may," "will," "should," "forecast," "could," "expect," "suggest," "believe," "estimate," "continue," "anticipate," "intend," "plan," or similar words, or the negatives of such terms or other variations on such terms or comparable terminology. Such forward-looking statements include, without limitation, statements regarding our business strategy for rebranding and building the Company, the potential future commercialization of our product candidates, the anticipated start dates, durations and completion dates, as well as the potential future results, of our ongoing and future clinical trials, the anticipated designs of our future clinical trials, anticipated future regulatory submissions and events, our anticipated future cash position and future events under our current and potential future collaborations. These forward-looking statements are subject to a number of risks, uncertainties and assumptions, including without limitation to the risks described in "Risk Factors" in Item 2.01 of Rosewind Corporation's Current Report on Form 8-K filed on April 22, 2015, and in the other reports and documents we file with the Securities and Exchange Commission from time to time. These risks are not exhaustive. Other sections of Rosewind Corporation's Current Report on Form 8-K filed on April 22, 2015 and such other filed reports and documents include additional factors that could adversely impact our business and financial performance. Moreover, we operate in a very competitive and rapidly changing environment. New risk factors emerge from time to time and it is not possible for our management to predict all risk factors, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. You should not rely upon forward-looking statements as predictions of future events. We cannot assure you that the events and circumstances reflected in the forward-looking statements will be achieved or occur and actual results could differ materially from those projected in the forward looking statements. We assume no obligation to update or supplement forward-looking statements.
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SOURCE Rosewind Corporation