BRIEF-Acerus Pharmaceuticals announces U.S. License agreement for NATESTO

Mon Apr 25, 2016 11:18am EDT
 
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April 25 (Reuters) - Acerus Pharmaceuticals Corporation

* Acerus announces u.s. License agreement for natesto

* Acerus is eligible to receive payments of up to us$37.5 million based on achievement of certain sales milestones

* Under terms of agreement, acerus will receive a non-refundable upfront fee of us$8.0 million

* Acerus will oversee manufacturing of natesto(reg) and receive a tiered supply price for product

* Aytu entered into separate subscription agreement to purchase 12.2 million shares of acerus on a private placement basis at c$0.207

* Acerus pharmaceuticals says signing of an agreement providing aytu bioscience inc with exclusive rights to market natesto in united states

* To use us$3 million proceeds from immediate upfront payment, subscription agreement to retire part of existing senior secured indebtedness Source text for Eikon: Further company coverage: [ ] (Bengaluru Newsroom; +1 646 223 8780)