Tuesday June 9, 2015 0 comments
ENGLEWOOD -- Aytu BioScience Inc. (OTCMKTS: RSWN), a specialty health care company focused on developing treatments for urological and related conditions, today announced it entered into an agreement with Ireland-based Jazz Pharmaceuticals (Nasdaq: JAZZ) to acquire Jazz’s rights to ProstaScint.
ProstaScint is an imaging agent used to detect the extent and spread of prostate cancer that is marketed in the U.S.
Aytu said ProstaScint’s established brand and revenue will enable it to expand its footprint in urology and advance its pipeline of therapeutics and diagnostics.
“We are delighted to expand our portfolio of urology-focused products with ProstaScint,” said Josh Disbrow, Aytu CEO. “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 health care company.”
Financial details of the acquisition were not disclosed.
Aytu recently completed a reverse merger that incorporated the pipeline assets of Zertane, a first-in-class treatment for premature ejaculation that is nearing commercial stage, and the RedoxSYS System, which has CE Marking for Europe and medical device approval by Health Canada, Vyrix Pharmaceuticals and Luoxis Diagnostics.