<SEC-DOCUMENT>0001213900-20-041934.txt : 20201210
<SEC-HEADER>0001213900-20-041934.hdr.sgml : 20201210
<ACCEPTANCE-DATETIME>20201210084149
ACCESSION NUMBER: 0001213900-20-041934
CONFORMED SUBMISSION TYPE: 425
PUBLIC DOCUMENT COUNT: 2
FILED AS OF DATE: 20201210
DATE AS OF CHANGE: 20201210
SUBJECT COMPANY:
COMPANY DATA:
COMPANY CONFORMED NAME: AYTU BIOSCIENCE, INC
CENTRAL INDEX KEY: 0001385818
STANDARD INDUSTRIAL CLASSIFICATION: PHARMACEUTICAL PREPARATIONS [2834]
IRS NUMBER: 470883144
STATE OF INCORPORATION: DE
FISCAL YEAR END: 1231
FILING VALUES:
FORM TYPE: 425
SEC ACT: 1934 Act
SEC FILE NUMBER: 001-38247
FILM NUMBER: 201379573
BUSINESS ADDRESS:
STREET 1: 373 INVERNESS PARKWAY
STREET 2: SUITE 206
CITY: ENGLEWOOD
STATE: CO
ZIP: 80112
BUSINESS PHONE: (720) 437-6580
MAIL ADDRESS:
STREET 1: 373 INVERNESS PARKWAY
STREET 2: SUITE 206
CITY: ENGLEWOOD
STATE: CO
ZIP: 80112
FORMER COMPANY:
FORMER CONFORMED NAME: AYTU BIOSCIENCE, INC.
DATE OF NAME CHANGE: 20150609
FORMER COMPANY:
FORMER CONFORMED NAME: Rosewind CORP
DATE OF NAME CHANGE: 20070110
FILED BY:
COMPANY DATA:
COMPANY CONFORMED NAME: AYTU BIOSCIENCE, INC
CENTRAL INDEX KEY: 0001385818
STANDARD INDUSTRIAL CLASSIFICATION: PHARMACEUTICAL PREPARATIONS [2834]
IRS NUMBER: 470883144
STATE OF INCORPORATION: DE
FISCAL YEAR END: 1231
FILING VALUES:
FORM TYPE: 425
BUSINESS ADDRESS:
STREET 1: 373 INVERNESS PARKWAY
STREET 2: SUITE 206
CITY: ENGLEWOOD
STATE: CO
ZIP: 80112
BUSINESS PHONE: (720) 437-6580
MAIL ADDRESS:
STREET 1: 373 INVERNESS PARKWAY
STREET 2: SUITE 206
CITY: ENGLEWOOD
STATE: CO
ZIP: 80112
FORMER COMPANY:
FORMER CONFORMED NAME: AYTU BIOSCIENCE, INC.
DATE OF NAME CHANGE: 20150609
FORMER COMPANY:
FORMER CONFORMED NAME: Rosewind CORP
DATE OF NAME CHANGE: 20070110
</SEC-HEADER>
<DOCUMENT>
<TYPE>425
<SEQUENCE>1
<FILENAME>ea131373-8k_aytubioscience.htm
<DESCRIPTION>CURRENT REPORT
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>UNITED STATES</B></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Washington, D.C. 20549</B></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> </P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>FORM 8-K</B></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> </P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>CURRENT REPORT</B></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> </P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934</B></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> </P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Date of Report (Date of earliest event reported):
<B>December 10, 2020</B></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> </P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>AYTU BIOSCIENCE, INC.<BR>
</B>(Exact name of registrant as specified in its charter)</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"> </P>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
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<TD STYLE="width: 32%; border-bottom: black 1.5pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Delaware</B></FONT></TD>
<TD STYLE="width: 2%"> </TD>
<TD STYLE="width: 32%; border-bottom: black 1.5pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>001-38247</B></FONT></TD>
<TD STYLE="width: 2%"> </TD>
<TD STYLE="width: 32%; border-bottom: black 1.5pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>47-0883144</B></FONT></TD></TR>
<TR>
<TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(State or other jurisdiction<BR>
of incorporation)</FONT></TD>
<TD STYLE="vertical-align: bottom"> </TD>
<TD STYLE="vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Commission File Number)</FONT></TD>
<TD STYLE="vertical-align: bottom"> </TD>
<TD STYLE="vertical-align: bottom; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(IRS Employer<BR>
Identification No.)</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> </P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>373 Inverness Parkway, Suite 206</B></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Englewood, CO 80112</B></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Address of principal executive offices, including
Zip Code)</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"> </P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Registrant’s telephone number, including
area code: <B>(720) 437-6580</B></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B> </B></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>N/A<BR>
</B>(Former name or former address, if changed since last report)</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"> </P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left">Check the appropriate box below if the Form 8-K
filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-indent: -0.25in"> </P>
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">☒</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-indent: -0.25in"> </P>
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">☐</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-indent: -0.25in"> </P>
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">☐</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-indent: -0.25in"> </P>
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 10pt; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">☐</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-indent: -0.25in"> </P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Securities registered pursuant to Section 12(b)
of the Act:</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </P>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR>
<TD STYLE="vertical-align: bottom; width: 32%; border-bottom: black 1.5pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Title of each class</B></FONT></TD>
<TD STYLE="vertical-align: top; width: 2%; text-align: center"> </TD>
<TD STYLE="vertical-align: bottom; width: 32%; border-bottom: black 1.5pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Trading Symbol(s)</B></FONT></TD>
<TD STYLE="vertical-align: top; width: 2%; text-align: center"> </TD>
<TD STYLE="vertical-align: top; width: 32%; border-bottom: black 1.5pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Name of each exchange on which<BR>
registered</B></FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: #CCEEFF">
<TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Common Stock, par value $0.0001 per share</FONT></TD>
<TD STYLE="text-align: center"> </TD>
<TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">AYTU</FONT></TD>
<TD STYLE="text-align: center"> </TD>
<TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The NASDAQ Stock Market LLC</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> </P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left">Indicate by check mark whether the registrant
is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2
of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-align: right; text-indent: -0.25in"> </P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-align: right; text-indent: -0.25in">Emerging growth
company ☐</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> </P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left">If an emerging growth company, indicate by
check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial
accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> </P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> </P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Item 7.01 Regulation FD Disclosure</B></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> </P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">On December 10, 2020, Aytu BioScience, Inc. (“Aytu”)
issued a press release announcing that Aytu and Neutron Acquisition Sub, Inc., a wholly owned subsidiary of Aytu (“Merger
Sub”), entered into an Agreement and Plan of Merger (the “Merger Agreement”) with Neos Therapeutics, Inc. (“Neos”).
A copy of the press release is attached to this Current Report on Form 8-K as Exhibit 99.1.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> </P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">The information contained in this Item 7.01 of Form 8-K, including
the accompanying Exhibit 99.1 is being furnished, and shall not be deemed to be “filed” for purposes of Section 18
of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of
that section. The information contained in the press release and the presentation shall not be incorporated by reference into any
filing under the Securities Act of 1933, as amended (the “Securities Act”), or the Exchange Act, whether made before
or after the date hereof, except as shall be expressly set forth by specific reference in such a filing.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I> </I></B></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>Additional Information about the Proposed Merger Transaction
and Where to Find It</I></B></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> </P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">This communication relates to the proposed merger transaction pursuant
to the terms of the Agreement and Plan of Merger, dated as of December 10, 2020, by and among Neos Therapeutics, Inc. (“Neos”),
Aytu Biosciences Inc. (“Aytu”), and Neutron Merger Sub, Inc. In connection with the proposed merger transaction, Aytu
expects to file with the United States Securities and Exchange Commission (the “SEC”) a registration statement on Form
S-4 that will include a joint proxy statement of Aytu and Neos that also constitutes a prospectus of Aytu, which joint proxy statement/prospectus
will be mailed or otherwise disseminated to Aytu stockholders and Neos stockholders when it becomes available. Aytu and Neos also
plan to file other relevant documents with the SEC regarding the proposed merger transaction.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> </P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">INVESTORS ARE URGED TO READ THE JOINT PROXY STATEMENT/PROSPECTUS
AND OTHER RELEVANT DOCUMENTS FILED WITH THE SEC IF AND WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION
ABOUT THE PROPOSED MERGER TRANSACTION.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> </P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">You may obtain a free copy of the joint proxy statement/prospectus
and other relevant documents (if and when they become available) filed by Aytu or Neos with the SEC at the SEC’s website
at www.sec.gov. Copies of the documents filed by Aytu with the SEC will be available free of charge on Aytu’s website at
www.aytubio.com or by contacting Aytu’s Investor Relations at james@haydenir.com. Copies of the documents filed by Neos with
the SEC will be available free of charge on Neos’ website at www. investors.neostx.com or by contacting Neos’ Investor
Relations at (972) 408-1300.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I> </I></B></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>Certain Information Regarding Participants</I></B></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> </P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Aytu and Neos and their respective directors, executive officers
and other members of management and employees may be deemed to be participants in the solicitation of proxies in respect of the
proposed merger transaction. You can find information about Aytu’s executive officers and directors in Aytu’s definitive
proxy statement filed with the SEC on March 4, 2020 in connection with Aytu’s 2020 annual meeting of stockholders. You can
find information about Neos’ executive officers and directors in Neos’ definitive proxy statement filed with the SEC
on April 21, 2020 in connection with Neos’ 2020 annual meeting of stockholders. Additional information regarding the interests
of such potential participants will be included in the joint proxy statement/prospectus and other relevant documents filed with
the SEC if and when they become available. You may obtain free copies of these documents from Aytu or Neos using the sources indicated
above.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I> </I></B></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> </P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>No Offer or Solicitation</I></B></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> </P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">This communication does not constitute an offer to sell, or the
solicitation of an offer to buy, any securities, nor a solicitation of any vote or approval with respect to the proposed merger
transaction or otherwise. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section
10 of the Securities Act of 1933, as amended (the “Securities Act”) and otherwise in accordance with applicable law.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I> </I></B></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><I>Forward-Looking Statement </I></B></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> </P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">This communication includes forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, or the
Exchange Act. All statements other than statements of historical facts contained in this press release, are forward-looking statements.
Forward-looking statements are generally written in the future tense and/or are preceded by words such as ''may,'' ''will,'' ''should,''
''forecast,'' ''could,'' ''expect,'' ''suggest,'' ''believe,'' ''estimate,'' ''continue,'' ''anticipate,'' ''intend,'' ''plan,''
or similar words, or the negatives of such terms or other variations on such terms or comparable terminology. All statements
other than statements of historical facts contained in this presentation, are forward-looking statements, including but not limited
to any statements regarding the expected timetable for completing the proposed transaction, the results, effects, benefits and
synergies of the proposed transaction, future opportunities for the combined company, future financial performance and condition,
guidance and any other statements regarding Aytu’s or Neos’ future expectations, beliefs, plans, objectives, financial
conditions, assumptions or future events or performance. These statements are just predictions and are subject to risks and uncertainties
that could cause the actual events or results to differ materially. These risks and uncertainties include, among others: failure
to obtain the required votes of Neos’ shareholders or Aytu’s shareholders to approve the transaction and related matters,
the risk that a condition to closing of the proposed transaction may not be satisfied, that either party may terminate the merger
agreement or that the closing of the proposed transaction might be delayed or not occur at all, potential adverse reactions or
changes to business or employee relationships, including those resulting from the announcement or completion of the transaction,
the diversion of management time on transaction-related issues, the ultimate timing, outcome and results of integrating the operations
of Aytu and Neos, the effects of the business combination of Aytu and Neos, including the combined company's future financial condition,
results of operations, strategy and plans, the ability of the combined company to realize anticipated synergies in the timeframe
expected or at all, changes in capital markets and the ability of the combined company to finance operations in the manner expected,
regulatory approval of the transaction, risks relating to gaining market acceptance of our products, obtaining reimbursement by
third-party payors, the potential future commercialization of our product candidates, the anticipated start dates, durations and
completion dates, as well as the potential future results, of our ongoing and future clinical trials, the anticipated designs of
our future clinical trials, anticipated future regulatory submissions and events, our anticipated future cash position and future
events under our current and potential future collaboration. We also refer you to the risks described in ''Risk Factors'' in Part
I, Item 1A of the company's Annual Report on Form 10-K and in the other reports and documents we file with the Securities and Exchange
Commission.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B> </B></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Item 9.01 Financial Statements and Exhibits.</B></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> </P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">(d) The following exhibit is being filed herewith:</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </P>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-size: 10pt">
<TR STYLE="vertical-align: top">
<TD STYLE="width: 9%; border-bottom: black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Exhibit</B></FONT></TD>
<TD STYLE="width: 1%"> </TD>
<TD STYLE="width: 90%; border-bottom: black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Description</B></FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
<TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">99.1</FONT></TD>
<TD> </TD>
<TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="ea131373ex99-1_aytubio.htm">Press Release issued by Aytu BioScience, Inc., dated December 10, 2020</A></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"> </P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B> </B></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SIGNATURES</B></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"> </P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; text-indent: 0.5in">Pursuant to the requirements
of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned
hereunto duly authorized.</P>
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<TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>AYTU BIOSCIENCE, INC. </B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD STYLE="width: 5%"> </TD>
<TD STYLE="width: 35%"> </TD>
<TD STYLE="width: 20%"> </TD>
<TD STYLE="width: 4%"> </TD>
<TD STYLE="width: 36%"> </TD></TR>
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<TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Date:</FONT></TD>
<TD STYLE="border-bottom: black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">December 10, 2020</FONT></TD>
<TD> </TD>
<TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
<TD STYLE="border-bottom: black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ Joshua R. Disbrow</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD> </TD>
<TD> </TD>
<TD> </TD>
<TD> </TD>
<TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Joshua R. Disbrow</FONT></TD></TR>
<TR STYLE="vertical-align: top">
<TD> </TD>
<TD> </TD>
<TD> </TD>
<TD> </TD>
<TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief Executive Officer</FONT></TD></TR>
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<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>ea131373ex99-1_aytubio.htm
<DESCRIPTION>PRESS RELEASE ISSUED BY AYTU BIOSCIENCE, INC., DATED DECEMBER 10, 2020
<TEXT>
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<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-size: 10pt"><B>Exhibit
99.1</B></FONT></P>
<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt"> </FONT></P>
<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><B>Aytu
BioScience and Neos Therapeutics Announce</B></FONT></P>
<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><B>Definitive
Merger Agreement, Creating a Combined</B></FONT></P>
<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><B>$100M
Revenue<SUP>1</SUP> Specialty Pharmaceutical Company</B></FONT></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B> </B></FONT></P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Merger
accelerates transformation to profitability, with estimated annualized cost synergies
of $15M beginning FY 2022</B></FONT></TD></TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B> </B></FONT></P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Aytu
adds Neos’ established, multi-brand ADHD portfolio, enhancing Aytu’s footprint
in pediatrics and expanding its presence in adjacent specialty care segments </B></FONT></TD></TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B> </B></FONT></P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Opportunity
to leverage and further enhance Neos RxConnect, a best-in-class patient support program,
for Aytu’s product portfolio of best-in-class prescription therapeutics and consumer
health products </B></FONT></TD></TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B> </B></FONT></P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">-</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Companies
to host joint conference call today at 8:30 am ET </B></FONT></TD></TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B> </B></FONT></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>ENGLEWOOD,
CO and GRAND PRAIRIE, TX / ACCESSWIRE / December 10, 2020 /</B> Aytu BioScience, Inc. (NASDAQ: AYTU), a specialty pharmaceutical
company focused on commercializing novel products that address significant patient needs, and Neos Therapeutics, Inc. (NASDAQ:
NEOS), a commercial-stage pharmaceutical company developing and manufacturing central nervous system-focused products, today announced
that they have entered into a definitive merger agreement pursuant to which Neos will merge with a wholly owned subsidiary of
Aytu in an all-stock transaction.</FONT></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </FONT></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Transaction
Details</B></FONT></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Upon
the effectiveness of the merger (the “Merger”), Neos stockholders will be entitled to receive 0.1088 shares of common
stock of Aytu for each share of Neos common stock held, after taking into account the one-for-ten reverse split of Aytu’s
common stock that was effected on December 8, 2020. The transaction will result in Neos stockholders owning approximately 30%
of the fully diluted common shares of Aytu. The all-stock transaction is valued, on a fully diluted basis, at approximately $44.9
million based on the 10-day volume weighted average price of Aytu stock for the period ended December 9, 2020.</FONT></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </FONT></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
boards of directors of both companies have approved the transaction.</FONT></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B> </B></FONT></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Strategic
Rationale and Financial Benefits of the Transaction</B></FONT></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </FONT></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
combined entity will have an increased footprint in the prescription pediatric market, an established, growing multi-brand ADHD
portfolio addressing the $8.5 billion ADHD market and significant combined revenue scale. For the 12-month period ending September
30, 2020, Neos generated $57.0 million in revenues. On a combined pro-forma basis for this same period, Aytu and Neos’ aggregate
net revenue is over $100 million. In addition, this Merger facilitates operational and commercial synergies that can be harnessed
to accelerate the path to profitability for the combined entity, with estimated annualized cost synergies of approximately $15.0
million beginning fiscal year 2022.</FONT></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </FONT></P>
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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-size: 10pt"><SUP>1</SUP></FONT></TD><TD>Based on unaudited combined pro-forma net revenues for
the two companies for the twelve-month period ending September 30, 2020</TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </FONT></P>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">“This
is a truly transformative transaction, elevating the newly combined company to a $100 million revenue, leading specialty pharmaceutical
company positioned for what we expect to be an accelerated path to profitability, continued revenue growth and further business
diversification,” said Josh Disbrow, Chief Executive Officer of Aytu BioScience. “The combination of Neos with the
Aytu business further increases our footprint in an attractive pediatric medicine market, following our acquisition of the Cerecor
pediatric Rx assets late last year. This transaction is an excellent strategic fit with our market expansion plans and we believe
creates strong stockholder value.”</FONT></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </FONT></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Mr.
Disbrow continued, “This transaction increases Aytu’s addressable market, adding the large and growing ADHD market,
with 75.1 million scripts written annually. Importantly, and despite the impact of COVID-19 on this market, Neos’ ADHD product
growth significantly outpaced the overall ADHD market in the third quarter of 2020, with Adzenys XR-ODT prescriptions growing
by 9.9 percent and Cotempla XR-ODT prescriptions growing by 6.5 percent. Expanding into ADHD with Neos is the ideal embodiment
of Aytu’s strategy to build a portfolio of best-in-class prescription therapeutics and consumer health products competing
in large markets.”</FONT></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </FONT></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Neos’
Chief Executive Officer, Jerry McLaughlin, stated, “I firmly believe Aytu BioScience is the right partner to continue the
exceptional work our team has done to build the ADHD franchise into what it is today and to continue the development of NT0502
for the treatment of sialorrhea. By leveraging the respective commercial infrastructure of Neos and Aytu, including complementary
sales call points and our best-in-class patient support program, Neos RxConnect, we expect continued growth of the product portfolio.
After a thorough evaluation of strategic alternatives, the Board of Directors of Neos believes that this merger represents the
highest-potential value creation opportunity for Neos stockholders.”</FONT></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B> </B></FONT></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Additional
Information</B></FONT></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </FONT></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
combined company will be led by Josh Disbrow, Chief Executive Officer of Aytu and will be headquartered in Englewood, Colorado.
The board of the combined company will consist of six members designated by Aytu and two members designated by Neos, including
Neos Chief Executive Officer and Director Jerry McLaughlin and Neos Director Beth Hecht.</FONT></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </FONT></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Merger is currently expected to close by the second quarter of 2021, subject to certain approvals by both Aytu and Neos stockholders
and the satisfaction of other customary closing conditions.</FONT></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </FONT></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
part of the transaction, Aytu has agreed to provide Neos with access to up to $5.0 million cash for working capital needs for
the period prior to the closing of the Merger. In addition, upon closing of the Merger, $15.0 million in principal of Neos’s
existing senior secured debt facility with affiliates of Deerfield Management will be repaid, and Deerfield has agreed to allow
the remaining debt under the facility to remain outstanding with the combined company following the Merger. Indebtedness under
Neos’s existing ABL agreement with Encina Business Credit will also remain outstanding.</FONT></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </FONT></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cowen
is acting as the exclusive financial advisor to Aytu, and Dorsey & Whitney LLP is acting as its legal counsel. MTS Health
Partners LP is acting as the exclusive financial advisor to Neos, and Goodwin Procter LLP is acting as its legal counsel.</FONT></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </FONT></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Conference
Call Information</B></FONT></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </FONT></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Aytu
and Neos will jointly host a live conference call at 8:30 am ET today.</FONT></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </FONT></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
conference call can be accessed by dialing:</FONT></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">877-407-9124
(toll-free)</FONT></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">201-689-8584
(international)</FONT></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </FONT></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
webcast will be accessible live and archived at the following link: https://www.webcaster4.com/Webcast/Page/2142/39104 and on
Aytu BioScience's website, within the Investors section under Events & Presentations, at aytubio.com, for 90 days.</FONT></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </FONT></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">A
replay of the call will be available for fourteen days. Access the replay by calling 1-877-481-4010 (toll-free) or 919-882-2331
(international) and using the replay access code 39104.</FONT></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </FONT></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>About
Aytu BioScience, Inc.</B></FONT></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </FONT></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Aytu
BioScience is a commercial-stage specialty pharmaceutical company focused on commercializing novel products that address significant
patient needs. Aytu currently markets a portfolio of prescription products addressing large primary care and pediatric markets.
The primary care portfolio includes (i) Natesto®, the only FDA-approved nasal formulation of testosterone for men with hypogonadism
(low testosterone, or "Low T"), (ii) ZolpiMist®, the only FDA-approved oral spray prescription sleep aid, and (iii)
Tuzistra® XR, the only FDA-approved 12-hour codeine-based antitussive syrup. The pediatric portfolio includes (i) Cefaclor,
a second-generation cephalosporin antibiotic suspension; (ii) Karbinal® ER, an extended-release carbinoxamine (antihistamine)
suspension indicated to treat numerous allergic conditions; and (iii) Poly-Vi-Flor® and Tri-Vi-Flor®, two complementary
prescription fluoride-based supplement product lines containing combinations of fluoride and vitamins in various formulations
for infants and children with fluoride deficiency. Aytu also distributes a COVID-19 IgG/IgM rapid antibody test and rapid antigen
test. These tests are used separately in the rapid, qualitative diagnostic assessment of the 2019 Novel Coronavirus. Additionally,
Aytu recently licensed worldwide rights to develop the Healight™ technology platform. Healight is an investigational medical
device being studied as a prospective treatment for COVID-19 and other respiratory infections.</FONT></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </FONT></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Aytu
operates a consumer health subsidiary, Innovus Pharmaceuticals, Inc. ("Innovus"), a specialty pharmaceutical company
commercializing, licensing and developing safe and effective consumer healthcare products designed to improve men's and women's
health and vitality. Innovus commercializes numerous novel consumer health products competing in large healthcare categories including
diabetes, men's health, sexual wellness, respiratory health, and general wellness. The Innovus product portfolio is commercialized
through direct-to-consumer marketing channels utilizing the company's proprietary Beyond Human® marketing and sales platform.</FONT></P>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Aytu's
strategy is to continue building its portfolio of revenue-generating Rx and consumer health products, leveraging its focused commercial
team and expertise to build leading brands within large therapeutic markets. For more information visit aytubio.com and visit
innovuspharma.com to learn about Aytu's consumer healthcare products.</FONT></P>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>About
Neos Therapeutics</B></FONT></P>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Neos
Therapeutics, Inc. is a commercial-stage pharmaceutical company developing and manufacturing central nervous system (CNS)-focused
products. Neos markets Adzenys XR-ODT® (amphetamine) extended-release orally disintegrating tablets (see Full Prescribing
Information, including Boxed WARNING), Cotempla XR-ODT® (methylphenidate) extended-release orally disintegrating tablets (see
Full Prescribing Information, including Boxed WARNING), and Adzenys-ER® (amphetamine) extended-release oral suspension (see
Full Prescribing Information, including Boxed WARNING), all for the treatment of ADHD. Neos also has a development candidate,
NT0502, for the treatment of sialorrhea in patients with neurological conditions. Additional information about Neos is available
at www.neostx.com.</FONT></P>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Additional
Information about the Proposed Merger Transaction and Where to Find It</B></FONT></P>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">This
press release relates to the proposed merger transaction pursuant to the terms of the Agreement and Plan of Merger, dated as of
December 10, 2020, by and among Neos Therapeutics, Inc. (“Neos”), Aytu Bioscience Inc. (“Aytu”), and Neutron
Merger Sub, Inc. In connection with the proposed merger transaction, Aytu expects to file with the United States Securities and
Exchange Commission (the “SEC”) a registration statement on Form S-4 that will include a joint proxy statement of
Aytu and Neos that also constitutes a prospectus of Aytu, which joint proxy statement/prospectus will be mailed or otherwise disseminated
to Aytu stockholders and Neos stockholders when it becomes available. Aytu and Neos also plan to file other relevant documents
with the SEC regarding the proposed merger transaction.</FONT></P>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">INVESTORS
ARE URGED TO READ THE JOINT PROXY STATEMENT/PROSPECTUS AND OTHER RELEVANT DOCUMENTS FILED WITH THE SEC IF AND WHEN THEY BECOME
AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED MERGER TRANSACTION.</FONT></P>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">You
may obtain a free copy of the joint proxy statement/prospectus and other relevant documents (if and when they become available)
filed by Aytu or Neos with the SEC at the SEC’s website at www.sec.gov. Copies of the documents filed by Aytu with the SEC
will be available free of charge on Aytu’s website at www.aytubio.com or by contacting Aytu’s Investor Relations at
james@haydenir.com. Copies of the documents filed by Neos with the SEC will be available free of charge on Neos’ website
at www. investors.neostx.com or by contacting Neos’ Investor Relations at (972) 408-1300.</FONT></P>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Certain
Information Regarding Participants</B></FONT></P>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Aytu
and Neos and their respective directors, executive officers and other members of management and employees may be deemed to be
participants in the solicitation of proxies in respect of the proposed merger transaction. You can find information about Aytu’s
executive officers and directors in Aytu’s definitive proxy statement filed with the SEC on March 4, 2020 in connection
with Aytu’s 2020 annual meeting of stockholders. You can find information about Neos’ executive officers and directors
in Neos’ definitive proxy statement filed with the SEC on April 21, 2020 in connection with Neos’ 2020 annual meeting
of stockholders. Additional information regarding the interests of such potential participants will be included in the joint proxy
statement/prospectus and other relevant documents filed with the SEC if and when they become available. You may obtain free copies
of these documents from Aytu or Neos using the sources indicated above.</FONT></P>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>No
Offer or Solicitation</B></FONT></P>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">This
press release does not constitute an offer to sell, or the solicitation of an offer to buy, any securities, nor a solicitation
of any vote or approval with respect to the proposed merger transaction or otherwise. No offering of securities shall be made
except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended (the “Securities
Act”) and otherwise in accordance with applicable law.</FONT></P>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Forward-Looking
Statement </B></FONT></P>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">This
press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, or the Exchange Act. All statements other than statements of historical
facts contained in this press release, are forward-looking statements. Forward-looking statements are generally written in the
future tense and/or are preceded by words such as ''may,'' ''will,'' ''should,'' ''forecast,'' ''could,'' ''expect,'' ''suggest,''
''believe,'' ''estimate,'' ''continue,'' ''anticipate,'' ''intend,'' ''plan,'' or similar words, or the negatives of such terms
or other variations on such terms or comparable terminology. All statements other than statements of historical facts contained
in this presentation, are forward-looking statements, including but not limited to any statements regarding the expected timetable
for completing the proposed transaction, the results, effects, benefits and synergies of the proposed transaction, future opportunities
for the combined company, future financial performance and condition, guidance and any other statements regarding Aytu’s
or Neos’ future expectations, beliefs, plans, objectives, financial conditions, assumptions or future events or performance.
These statements are just predictions and are subject to risks and uncertainties that could cause the actual events or results
to differ materially. These risks and uncertainties include, among others: failure to obtain the required votes of Neos’
shareholders or Aytu’s shareholders to approve the transaction and related matters, the risk that a condition to closing
of the proposed transaction may not be satisfied, that either party may terminate the merger agreement or that the closing of
the proposed transaction might be delayed or not occur at all, potential adverse reactions or changes to business or employee
relationships, including those resulting from the announcement or completion of the transaction, the diversion of management time
on transaction-related issues, the ultimate timing, outcome and results of integrating the operations of Aytu and Neos, the effects
of the business combination of Aytu and Neos, including the combined company's future financial condition, results of operations,
strategy and plans, the ability of the combined company to realize anticipated synergies in the timeframe expected or at all,
changes in capital markets and the ability of the combined company to finance operations in the manner expected, regulatory approval
of the transaction, risks relating to gaining market acceptance of our products, obtaining reimbursement by third-party payors,
the potential future commercialization of the combined company’s product candidates, the anticipated start dates, durations
and completion dates, as well as the potential future results, of the combined company’s ongoing and future clinical trials,
the anticipated designs of the combined company’s future clinical trials, anticipated future regulatory submissions and
events, the combined company’s anticipated future cash position and future events under current and potential future collaboration.
We also refer you to (i) the risks described in ''Risk Factors'' in Part I, Item 1A of Aytu’s Annual Report on Form 10-K
and in the other reports and documents it files with the Securities and Exchange Commission and (ii) the Risk Factors set forth
in Neos’ Annual Report on Form 10-K and Quarterly Reports on Form 10-Q filed with the SEC and in the other filings Neos
makes with the SEC from time to time.</FONT></P>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Contact
for Investors:</B></FONT></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">James
Carbonara<BR>
Hayden IR<BR>
(646) 755-7412<BR>
<B>james@haydenir.com</B></FONT></P>
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