Business
DermaSys Agreement with GSK
DermaSys Agreement with GSK.
About this update from Futura Medical Plc
[{"type":"text","content":"\n Futura Medical PLC\n18 April 2007\n\n\nFor immediate release 18 April 2007\n\n\n GlaxoSmithKline pays upfront fee to enter\n exclusive talks on Futura's DermaSys(R) topical delivery technology\n\n\nFutura Medical plc (AIM: FUM), the pharmaceutical group that develops innovative\nproducts for consumer healthcare, announces that it has entered into an\nexclusivity agreement with GlaxoSmithKline for the negotiation of global\ndistribution rights for the provision of pain relief using Futura's topical\ntrans-dermal delivery technology, DermaSys(R).\n\nIn July 2006, Futura and GlaxoSmithKline signed an agreement to co-develop\nFutura's erectile dysfunction treatment, MED2002.\n\nUnder the terms of the exclusivity agreement, GlaxoSmithKline has agreed to pay\nFutura an upfront fee of £150,000 to enter a period of exclusive discussions and\nnegotiations concluding no later than 31 March 2008. During the period of the\nexclusivity agreement Futura will conduct a study to evaluate drug delivery from\ntopical formulations developed by Futura. Pending the success of the\nnegotiations and of Futura's study, GlaxoSmithKline will have the opportunity to\nacquire global distribution rights.\n\nJames Barder, Chief Executive of Futura, said: 'We are excited at the prospect\nof exploring the potential for DermaSys to improve drug delivery for this\ntherapeutic application and believe that the technology could offer superior\ntransdermal drug delivery across a range of therapeutic areas.'\n\nStan Lech, VP Innovation Research & Development, GlaxoSmithKline Consumer\nHealthcare said: 'We are delighted to extend our growing relationship with\nFutura and believe we have identified a therapeutic area that brings significant\ncommercial opportunities.'\n\n\nFor further information:\nFutura Medical plc\nJames Barder, Chief Executive Tel: +44 (0) 1483 685 670\nmail to: [email protected] www.futuramedical.co.uk\n\nMedia enquiries:\nBuchanan Communications\nMark Court / Rebecca Dietrich Tel: +44 (0) 020 7466 5000\n\n\nNotes\n\nFutura Medical plc\n\nFutura Medical is a pharmaceutical group that develops innovative products for\nconsumer healthcare. The Company is developing a portfolio of products and its\nstrategy is to license their manufacture and distribution to major\npharmaceutical and healthcare groups.\n\nFutura is based in Gui...