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Futura Medical Announces Collaboration of MED3000
Futura Medical Announces Collaboration of MED3000.
About this update from Futura Medical Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 0952K\n Futura Medical PLC\n 31 August 2021\n \n \n \n \n \n \n \n \n \n \n \n \n \n 31st August 2021\n \n \n \n \n \n Futura Medical Announces Collaboration to Commercialise MED3000 in key Latin American Markets\n \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 m8 Pharmaceuticals, Inc (\"m8\"), a specialty biopharmaceutical company focused on commercialisation in Latin America, for the rights to exclusively develop and commercialise the Company's topical, gel-based Erectile Dysfunction (\"ED\") treatment MED3000, in Brazil and Mexico.\n \n Commercial Highlights:\n \n · \n Futura to receive payments on all sales of MED3000 from m8\n \n \n · \n Futura also eligible to receive up to $8.5 million in milestone payments based on deliverable sales volumes, including a small initial upfront payment \n \n \n ·\n m8 is responsible for all local MED3000 development and regulatory costs in Brazil and Mexico as well as marketing expenses and ongoing pharmacovigilance and safety within the region\n \n m8 is a specialty biopharmaceutical company, headquartered and incorporated in the USA and focused on licensing, marketing and distributing innovative and established therapeutics in the two largest Latin America markets: Brazil and Mexico.\n \n \n \n m8 Licensing Agreement\n Under the terms of the agreement Futura and m8 will work together to gain marketing authorisation and commercialise MED3000 as a clinically proven treatment for ED available without the need for a doctor's prescription (\"OTC\") in Brazil and Mexico, the two biggest countries and healthcare end markets in Latin America. The agreement is for an initial term of 15 years.\n \n m8 will be responsible for all costs related to the regulatory approval and marketing of the product. m8 and Futura believe the EU (inclusive of the UK) approval of MED3000 granted in April 2021 will facilitate approval in Brazil, Mexico and other countries within Latin America without the need for further clinical development. Futura will provide ...