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CURRENT REPORT
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Item 5.02(b) Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers.
Effective November 14, 2022, Aytu BioPharma, Inc. (the “Company”) appointed Christopher Brooke as Chief Operating Officer
Mr. Brooke has served as the Company’s Executive Vice President, Rare Disease Development since joining the Company in April 2021 upon the acquisition of the global license to AR101 (enzastaurin) from Rumpus Therapeutics. In January 2019, Mr. Brooke co-founded Rumpus to develop new medicines for pediatric onset rare and orphan diseases. Prior to Rumpus, Mr. Brooke served as Senior Vice President, Corporate Strategy and Development from January 2017 to December 2018 at AmerisourceBergen, a publicly held pharmaceutical wholesale company. Mr. Brooke has over 20 years of general management experience in healthcare across all phases of development and commercialization, holding roles of increasing responsibility at Centocor (Johnson & Johnson), a publicly held pharmaceutical company, and MedImmune (AstraZeneca), a publicly held pharmaceutical company. His rare disease experience includes launching pediatric inflammatory bowel disease indications while at Johnson & Johnson as well as leading the pediatric infectious disease franchise at AstraZeneca. Mr. Brooke went on to lead the fully integrated Diabetes Division at AstraZeneca. Mr. Brooke has a BA from Colgate University and an MBA from the Wharton School at the University of Pennsylvania.
There are no other arrangements or understandings between Mr. Brooke and any other person pursuant to which Mr. Brooke was appointed as Chief Operating Officer of the Company.
There are also no family relationships between Mr. Brooke and any director or executive officer of the Company.
On April 12, 2021, the Company entered into an asset purchase agreement with Rumpus VEDS, LLC, Rumpus Therapeutics, LLC, Rumpus Vascular, LLC (together “Rumpus”), entities which Mr. Brooke holds a 47.5% ownership interest in, pursuant to which the Company acquired commercial global licenses, relating primarily to the development asset enzastaurin, or AR101. This asset was acquired for an up-front fee of $1.5 million in cash. Upon the achievement of certain regulatory and commercial milestones, the Company is obliged to pay up to $67.5 million in earn-out payments, which are payable in cash or shares of common stock, generally at the Company’s option. In fiscal 2022, two milestones were achieved totaling $4.0 million, which were paid in 2,188,940 shares of Aytu common stock and $2.6 million in cash were paid to Rumpus.