Business
Futura/Haleon Enter US Commercialisation Agreement
Futura/Haleon Enter US Commercialisation Agreement.
About this update from Futura Medical Plc
[{"type":"text","content":"\n\n \n \n \n17 July 2023\n \nFutura Medical Announces Agreement With Haleon To Commercialise MED3000 In The USA\n \nFutura 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, focused on sexual health, today announces that it has entered into a ground breaking licensing agreement with Haleon plc (\"Haleon\"), a world leading consumer healthcare Company for the rights to exclusively commercialise the Company's innovative topical, gel-based Erectile Dysfunction (\"ED\") treatment MED3000, in the USA.\n \nCommercial Highlights:\n· Futura to receive:\no an initial upfront payment of $4 million;\no royalty payments on all sales of MED3000 by Haleon; and\no potential commercial and performance-driven sales milestone payments totalling between $5 million and $45 million payable over the course of several years\n· Haleon is responsible for the future launch and ongoing regulatory, development, marketing, and commercialization of MED3000 in the USA. Further details will be disclosed in due course\n· Upon launch, MED3000 will represent the first OTC topical gel indicated for the treatment of ED\n \nHaleon Licensing Agreement\nUnder the terms of the agreement Haleon will commercialise MED3000 as the first and only clinically proven gel treatment for ED, available without the need for a doctor's prescription (\"OTC\") in the USA, the biggest consumer healthcare market globally.\n \nHaleon will be responsible for all investment and activities related to the launch and marketing of the product in the USA. Futura will provide ongoing technical support for OTC product development and commercialisation opportunities.\n \nThe prevalence of ED disrupts the lives of at least 1 in 5 men globally with around 22 million men suffering ED in the USA, making the US market the largest ED market in the world. The majority of ED sufferers in the USA do not currently treat their condition. MED3000 will meet the needs of many of these ED sufferers by providing a safe, effective and fast-acting treatment that can be purchased without a pr...