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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest
event reported):
April 9, 1996
XYTRONYX, INC.
(Exact name of registrant as specified in its charter)
DELAWARE
(State or other jurisdiction of incorporation
0-14838 36-3258753
(Commissioner File Number) (IRS Employer Identification Number)
6555 Nancy Ridge Drive
Suite 200
San Diego, California 92121
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (619) 550-3900
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Item 5. Other Events.
The News Release dated April 9, 1996 announcing that Procter & Gamble
Company has terminated their option agreement to market the Xytronyx Periodontal
Tissue Monitor, filed as Exhibit 99.50 hereto, is hereby incorporated into this
Report by reference.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.
(c) EXHIBITS. The following exhibit accompanies this Report:
EXHIBIT
NUMBER EXHIBIT DESCRIPTION
99.50 News Release dated April 9, 1996 announcing that Procter &
Gamble Company has terminated their option agreement to
market the Xytronyx Periodontal Tissue Monitor
SIGNATURES
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.
XYTRONYX, INC.
By: /S/ DALE SANDER
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Dale Sander
Chief Financial Officer
Date: April 17, 1996
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INDEX TO EXHIBITS
EXHIBIT SEQUENTIALLY
NUMBER DESCRIPTION OF EXHIBIT NUMBERED PAGE
99.50 News Release dated April 9, 1996 announcing that Procter
& Gamble Company has terminated their option agreement
to market the Xytronyx Periodontal Tissue Monitor
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FOR IMMEDIATE RELEASE
CONTACT: Dale A. Sander, Chief Financial Officer
Larry O. Bymaster, Chief Executive Officer
(619) 550-3900
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XYTRONYX, INC. ANNOUNCES THAT
PROCTER & GAMBLE COMPANY HAS TERMINATED OPTION AGREEMENT
SAN DIEGO, CA, April 9, 1996 -- Xytronyx, Inc. (AMEX: XYX) announced that it
received notification yesterday from the Procter & Gamble Company (P&G) that
P&G is terminating an agreement under which P&G had the option to market the
Xytronyx Periodontal Tissue Monitor (PTM). Xytronyx stated that P&G's
explanation for the termination was that P&G is refocusing on its core oral
care products and is eliminating efforts related to certain other products.
"The explanation that we received from Procter & Gamble is that this reflects
a change in their strategic focus as opposed to any reduction in enthusiasm
relating to the PTM product," said Larry Bymaster, Chairman and CEO of
Xytronyx. "In fact, just last week P&G terminated a marketing agreement with
another company relating to an oral cancer diagnostic product, so we don't
appear to be the only company impacted by this change in focus."
Mr. Bymaster added: "Although we were pleased to be aligned with Procter &
Gamble we would rather have this change occur now as opposed to when we are
closer to market launch. We want to ensure that the marketing rights are
held by a motivated partner committed to our product.
Mr. Bymaster elaborated on the steps Xytronyx expects to take to market the
PTM product: "Throughout the term of the option agreement with P&G we have
maintained discussions with other potential marketing partners as an
alternative to P&G. Xytronyx will move ahead with these discussions to
position the product for market introduction as soon as possible,
particularly in Western Europe where the product is already approved for sale
in a number of countries."
