Aytu BioScience Announces Appointment of Two New Directors, Steven Boyd and Ketan Mehta

Aytu BioScience, Inc. (NASDAQ: AYTU), a specialty pharmaceutical company focused on global commercialization of novel products addressing significant medical needs, today announced two new appointments to the Company's board of directors. Ketan Mehta, Founder and Chief Executive Officer of Tris Pharma joined the board effective November 30, 2018. Steven Boyd, Founder and Chief Investment Officer of Armistice Capital, is expected to be appointed to the board of directors at an upcoming board meeting in the first calendar quarter of 2019.

Josh Disbrow, Aytu BioScience's Chief Executive Officer, commented, "We look forward to having Steve Boyd and Ketan Mehta on Aytu BioScience's board of directors. Steve has an outstanding reputation as a healthcare investor and brings a wealth of experience advising and investing in specialty pharmaceutical companies like Aytu. We believe his experience and insights will serve the company well as we grow. We also believe Ketan's background as a successful entrepreneur and founder of a leading specialty pharmaceutical company will be invaluable to Aytu as the Company continues to grow its product portfolio and expand the Company's commercial capabilities. We look forward to working with Steve and Ketan as our newest board members."

Mr. Boyd is the Chief Investment Officer of Armistice Capital, a healthcare equity hedge fund he has built to over $800M in assets under management since Armistice's founding in 2012. Prior to founding Armistice, Mr. Boyd was a Research Analyst at Senator Investment Group, York Capital, and SAB Capital Management, where he focused on healthcare. Mr. Boyd began his career as an Analyst at McKinsey & Company. Mr. Boyd has served as a member of the board of directors of Cerecor (CERC), an integrated biopharmaceutical company focused on pediatric healthcare, since April 2017 and EyeGate Pharmaceuticals (EYEG), a clinical-stage, specialty pharmaceutical company focused on disorders of the eye, since May 2018. Mr. Boyd received a B.S. in Economics and a B.A. in Political Science from The Wharton School of the University of Pennsylvania.

Steven Boyd stated, "Josh and the Aytu team have transformed the Company over the last six months. I look forward to joining the board and working closely with them to drive long-term, sustainable shareholder value."

Mr. Mehta, a pharmaceutical scientist by education, is the Founder and Chief Executive Officer of Tris Pharma, a fully-integrated specialty pharmaceutical company focused on developing and commercializing advanced delivery technologies. Mr. Mehta founded Tris in 2000 and has built the company into a leading specialty pharmaceutical company with over 500 employees. Tris develops, manufactures, licenses, and commercializes both branded and generic pharmaceuticals directly and through commercial partnerships with both large and emerging pharmaceutical companies. Tris has developed many pharmaceutical technologies, including its extended-release platform LiquiXR® and holds over 150 patents in the U.S. and around the world. Before founding Tris Pharma, Mr. Mehta worked for Capsugel (formerly a division of Pfizer) in sales, marketing and business development for eight years. Prior to Capsugel, he spent approximately six years as a pharmaceutical scientist for three different large pharmaceutical companies. Mr. Mehta holds an MS degree in Pharmaceutical Sciences from the University of Oklahoma.

Ketan Mehta concluded, "It is my pleasure to be joining Aytu's board, and I am excited about the Company's growth prospects. I look forward to working with Aytu's management team and board as the Company executes on its growth plans."