ENGLEWOOD, Colo., June 9, 2015 /PRNewswire/ -- Aytu BioScience, Inc. (OTCMKTS: RSWN), a specialty healthcare company focused on developing treatments for urological and related conditions, today entered into an agreement with Jazz Pharmaceuticals (NASDAQ: JAZZ) to acquire Jazz Pharmaceuticals' rights to ProstaScint®, an imaging agent used to detect the extent and spread of prostate cancer that is marketed in the U.S. ProstaScint's established brand and revenue will enable Aytu to expand its footprint in urology and advance its pipeline of therapeutics and diagnostics.
Josh Disbrow, Chief Executive Officer of Aytu BioScience, stated, "We are delighted to expand our portfolio of urology-focused products with ProstaScint. This product acquisition demonstrates our core business strategy and commitment to building a portfolio of late-stage and revenue-generating assets. We expect the revenue from ProstaScint to help drive our clinical development and accelerate the growth of this newly formed specialty healthcare company."
Aytu recently completed a reverse merger that incorporated the pipeline assets Zertane™, a first-in-class treatment for premature ejaculation (PE) that is nearing commercial-stage, and the RedoxSYS® System, which has CE Marking for Europe and medical device approval by Health Canada, from Vyrix Pharmaceuticals and Luoxis Diagnostics, respectively.
ProstaScint is a murine monoclonal antibody conjugated to a linker-chelator that targets Prostate Specific Membrane Antigen (PSMA), a glycoprotein expressed by the prostate epithelium. The product has been marketed in the U.S. since 1997.
About Aytu BioScience
Aytu BioScience 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 Statement
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 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 Aytu BioScience (formerly known as Rosewind Corporation) Current Report on Form 8-K 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 our Current Report on Form 8-K 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 Aytu BioScience, Inc.