Business
Re: Global Rights
Re: Global Rights.
About this update from Futura Medical Plc
[{"type":"text","content":"\n Futura Medical PLC\n09 December 2005\n\n\nFor immediate release 9 December 2005\n\n\n Futura Medical plc\n in final discussions on global rights for MED2002\n\n\nFutura Medical plc (AIM: FUM), the pharmaceutical drug and medical device group\nthat develops innovative products for the sexual healthcare market, announces\nthat it has extended the exclusivity period with the major global pharmaceutical\ngroup (MGPG) with which it is negotiating global rights for MED2002*, the\nCompany's non-prescription topical gel for the treatment of erectile\ndysfunction.\n\nHeads of agreement are now being finalised, which are intended to be legally\nbinding. In addition, MGPG is providing extensive technical, regulatory and\nclinical resources to assist Futura in finalising plans for the Phase III\nclinical programme for MED2002, which is planned to start in 2006.\n\nThe exclusivity period, which was initially entered into in March 2005, is being\nextended by 45 days from 31 December 2005 in order to finalise the heads of\nagreement and obtain MGPG's executive approval.\n\nJames Barder, Chief Executive of Futura, said: 'Both parties have worked very\nclosely together during 2005 to conclude all the necessary evaluation work on\nMED2002, culminating in our recent announcements of positive pharmacokinetics\nand pharmacodynamic studies. An enormous amount of progress has been achieved\nover a short period of time since the results of the studies were made available\nin early November, and we are happy to grant a short extension to the\nexclusivity period. By the end of the extended exclusivity period we expect to\nannounce the identity of our partner and highlights of the joint development\nprogramme and commercial arrangements after negotiations and approvals have been\ncompleted.'\n\n\n*MED2002 is the term used by Futura to describe all of the Company's different\ngel formulations for application directly to the penis for the treatment of male\nerectile dysfunction. Futura may code certain formulations, for identification\npurposes, by altering the final digit. E.g. MED2001 or MED2004.\n\nFor further information:\n Futura Medical plc\n James Barder, Chief Executive Tel: +44 (0) 1483 845 670\n mail to: [email protected] www.futuramedical.co.uk\n\nMedia enquiries:\n Buchanan Communications\n Mark Court / Tim Anderson / Rebecca D...