Business
CSD500: Termination of Licensing Agreement
CSD500: Termination of Licensing Agreement.
About this update from Futura Medical Plc
[{"type":"text","content":"\n \nRNS Number : 7773O Futura Medical PLC 23 August 2017 \n\n\n\n\n\nFor immediate release \n\n\n23 August 2017\n\n\n\n\n \n \n \n \n \nFutura Medical plc\n \nCSD500: Notice of Termination of Licensing Agreement\n \nFutura Medical plc (AIM: FUM), the innovative healthcare company focused on advanced transdermal technology, announces that Church & Dwight Co Inc, with which the Company signed a licensing agreement for CSD500 in April 2013 (the \"Agreement\"), has given formal notice that it intends to terminate that agreement and return all commercialisation rights to the Company.\n \nThe Agreement covered manufacturing, marketing and distribution rights to CSD500 in North America and certain countries in Europe. Church & Dwight is returning the rights to Futura as a result of a change in strategic priorities within its business. The rights covered by the Agreement will return to Futura on or before 19 November 2017.\n \nJames Barder, Futura's Chief Executive, said: \"Whilst this change of strategic priorities is disappointing, we have been advised by Church & Dwight that consumer research regarding the in-use performance and safety of the product conducted by them is not materially different to clinical and market research previously carried out by the Company in The Netherlands and United Kingdom. Our objective, once the rights are returned, will be to seek new commercial terms with potential partners who have previously expressed strong interest in the product.\n \n\"The commercialisation strategy for CSD500 has been on a territorial basis, in part because of the requirement to partner with locally trusted brands. The return of the rights for North American and certain European countries is not expected to have any impact on the launch of the product in other geographies, on which a further progress update will be issued in September 2017.\n \n\"In the meantime our development programmes for our pain relief and erectile dysfunction gels continue as planned.\"\n \n \n \n \nFor any further information please contact:\n \n \n\n\n\n\nFutura Medical plc\n\n\n \n\n\n\n\nJames Barder, Chief Executive\n \n\n\nTel: +44 (0)1483 685 670\n\n\n\n\nmail to: [email protected]\n\n\nwww.futuramedical.com\n\n\n\n\n...