Business
PET500 Agreement
PET500 Agreement.
About this update from Futura Medical Plc
[{"type":"text","content":"\n RNS Number : 7562A Futura Medical PLC 07 February 2011 \n \n\n \n\n\n\n\nFor immediate release\n\n\n7 February 2011\n\n\n\n\n \n \n \nFutura Medical plc\n(\"Futura\" or \"the Company\")\n \nAgreement with Ansell for the commercialisation of PET500\n \nFutura Medical plc (AIM: FUM), the pharmaceutical group that develops innovative products for consumer healthcare, is pleased to announce that it has signed an exclusive worldwide agreement with Ansell Limited, one of the world's largest condom makers, for the commercialisation of PET500, Futura's novel product for enhanced sexual control.\n \nPET500 is a topical spray that combines Futura's DermaSys® AquaFree delivery system with a mild anaesthetic. It is designed to take effect rapidly and to delay male ejaculation. Ansell has already developed the strategy for the launch of the product, which is expected to take place as soon as practicable.\n \nUnder the terms of the agreement with Ansell, Futura will receive a significant royalty rate on sales and a modest upfront payment. The branding of the product will be developed by Ansell, which will also be responsible for the product's manufacture and for funding of all regulatory work.\n \nFutura will work closely with Ansell on the successful completion of any clinical work in territories where regulators require additional data.\n \nJames Barder, Futura's Chief Executive, said: \"We are delighted to announce this agreement for PET500 with Ansell, one of the world's major sexual health and well-being companies, and look forward to working closely with them and making a commercial success of PET500.\"\n \n \nFor any further information please contact:\n \n\n\n\n\nFutura Medical plc\n\n\n \n\n\n\n\nJames Barder, Chief Executive\n\n\nTel: +44 (0) 1483 685 670\n\n\n\n\n \n\n\n \n\n\n\n\nmail to: [email protected]\n\n\nwww.futuramedical.com\n\n\n\n\n \n\n\n \n\n\n\n\nNomura Code Securities Limited\n\n\n \n\n\n\n\nPhil Walker / Giles Balleny\n\n\nTel:+44 (0)20 7776 1200\n\n\n\n\n \n\n\n \n\n\n\n\nFor media enquiries please contact:\n\n\n \n\n\n\n\n \n\n\n \n\n\n\n\nBuchanan Communications\n\n\n \n\n\n\n\nMark Court / Jessica Fontaine\n\n\nTel: +44 (0) 20 7466 5000\n\n\n\n\n \n \nNotes ...