Aytu BioScience Announces Close of Merger with Neos Therapeutics
By: Colorado BioScience Association Date: 03/22/2021
Aytu BioScience, Inc. (NASDAQ:AYTU), a specialty pharmaceutical company focused on commercializing novel therapeutics and consumer healthcare products, today announced the closing of its merger with Neos Therapeutics (previously trading on Nasdaq under “NEOS”). The combined, publicly traded company will focus on maximizing its commercial portfolio of prescription therapeutics and consumer health products and building a complementary novel therapeutic development pipeline that will address significant unmet needs. Effective today, the combined company has begun operating under the name Aytu BioPharma, Inc. (Aytu BioPharma), and its shares of common stock will continue to trade on Nasdaq under the ticker “AYTU.”
“This merger with Neos Therapeutics transforms Aytu into a $100 million revenue specialty pharmaceutical company with annualized cost synergies of $15 million anticipated in 2022. With this close, we are in a strong position to enhance our footprint in pediatrics and expand our presence in adjacent specialty care segments. We also are excited to immediately start leveraging RxConnect, a best-in-class patient support program, for our product portfolio of best-in-class prescription therapeutics and consumer health products,” said Josh Disbrow, Chief Executive Officer of Aytu BioPharma. “We greatly appreciate the support of our new and existing shareholders in supporting this merger and hope to continue this momentum of driving shareholder value.”
Concurrent with the closing of the merger, former Neos Therapeutics board members Beth P. Hecht and Jerry McLaughlin have joined the Aytu BioPharma Board of Directors. Ketan Mehta has resigned his position from the Aytu Board of Directors.
Find out more in the press release.