Aytu BioScience closes on $5.175M note financing

Thursday September 3, 2015 0 comments Tags: Englewood, Aytu BioScience, Josh Disbrow, Zertane, RedoxSYS, ProstaScint

 

ENGLEWOOD -- Aytu BioScience Inc. (OTCQB: AYTU), a specialty health care company focused on developing treatments for urological and related conditions, announced it has closed on the final tranche of a planned $5.175 million private placement convertible note financing.Aytu_logoUSE

The amount includes proceeds from two prior tranches totaling $3.175 million, Aytu said.

“Proceeds from his private placement are intended to be used to conduct clinical studies for both Zertane and RedoxSYS and for working capital to begin commercializing FDA-approved ProstaScint as well as general corporate purposes,” said Josh Disbrow, Aytu’s CEO.

“We look forward to continued execution on our clinical and corporate strategy as we build our urology-focused organization.”

Newbridge Securities Corp., through LifeTech Capital, acted as sole placement agent for the institutional portion of the offering, the company said.