Business
Futura Announces Collaboration with Menarini
Futura Announces Collaboration with Menarini.
About this update from Futura Medical Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 6651F\n Futura Medical PLC\n 23 March 2022\n \n \n \n \n \n \n \n \n \n \n 23 March 2022\n \n \n \n \n \n \n \n \n \n Futura Medical plc\n \n \n (\"Futura\" or the \"Company\")\n \n Futura Announces Collaboration with Menarini Korea\n to Commercialise MED3000 in South Korea\n \n \n \n Futura Medical plc (AIM: FUM) (\"Futura\" or the \"Company\"), a pharmaceutical company developing a portfolio of innovative products based on its proprietary, transdermal DermaSys® drug delivery technology and currently focused on sexual health and pain, today announces it has entered into a licensing agreement with A. Menarini Korea Limited (\"Menarini Korea\"), a wholly owned subsidiary of Menarini Group, for the exclusive rights to commercialise the Company's topical, gel-based Erectile Dysfunction (\"ED\") treatment MED3000 in South Korea.\n \n Commercial Highlights:\n \n · \n Futura is eligible to receive an initial upfront payment\n \n \n · \n Menarini Korea to pay an agreed price to Futura for the manufacture and supply of MED3000 by Futura's Contract Manufacturing Organisation (\"CMO\")\n \n \n · \n Menarini Korea is responsible for all local MED3000 development, regulatory approvals, product launch and marketing.\n \n Menarini Korea, a wholly owned subsidiary of A. Menarini Asia-Pacific Holdings PL based in Seoul Korea, is part of the world's largest Italian biopharmaceutical company with a heritage of over 135 years and over 17,500 employees in more than 140 countries. Menarini Korea possesses the capability to successfully register, launch and commercialise brands in the market, with key strengths in therapeutic areas such as Cardiovascular, Hemato-Oncology/Pain, Men's Health, Consumer Health, and Specialty/Orphan diseases.\n \n \n \n Menarini Licensing Agreement\n Under the terms of the agreement, Futura will support Menarini to gain marketing authorisation and in commercialising MED3000 as a clinically proven treatment for ED in South Korea.\n \n Menarini will be responsible for all costs related to the regulatory approval and marketing of the product in the region, including a clinical bridging study if necessary. Futura will provide reasonable technical support for product development and...