Benzinga | Jan 25, 2021 04:14PM EST

Aytu BioScience Signs Exclusive License Agreement With Avrio Genetics

On January 20, 2021, Aytu BioScience, Inc. (the "Company"), signed an Exclusive License Agreement (the "Agreement") to license the intellectual property surrounding the use and commercialization of their rapid in vitro diagnostic semen analysis test that accurately measures oxidative stress, including all components of the MiOXSYS(r) commercial system (the "Product"). The Agreement has been entered into with Avrio Genetics, LLC ("Avrio Genetics"), a Pennsylvania-based limited liability company focused on reproductive health.



Under this Agreement, Avrio Genetics will purchase existing inventory, commercialize, and market the Product under a royalty on Product net sales with a minimum annual payment fee structure for a term of ten (10) years, with the term continuing in perpetuity with a fixed royalty rate based on Product sales payable annually to the Company. The Company will continue to own the intellectual property in the Product, with Avrio Genetics bearing all related patent maintenance and prosecution fees, commercial expenses, and regulatory fees. Further, Avrio Genetics will foster and expand all related customer, manufacturing, marketing, and distribution relationships in their effort to increase the commercialization of the Product. With Avrio's assumption of the Product-related expenses and management of the Product programs, the Company expects to eliminate expenses associated with the Product while maintaining future revenue potential in the form of royalty and minimum annual payments from Avrio Genetics.