Futura Medical PLC
10 February 2006
For immediate release 10 February 2006
Futura Medical plc
in final approval process for MED2002
Futura Medical plc (AIM: FUM), the pharmaceutical drug and medical device group
that develops innovative products for the sexual healthcare market, announces
that the negotiated commercial terms and clinical development program for
MED2002 are now going through the formal approval process within the major
global pharmaceutical group (MGPG). This process will complete after the expiry
of the current exclusivity period.
Futura has agreed to extend the exclusivity period to allow the MGPG to complete
its decision-making process in the near term.
James Barder, Futura's Chief Executive, said: 'I am delighted to report that we
are now in the formal approval process within the global pharmaceutical group
and I look forward to updating shareholders in due course.'
For further information:
Futura Medical plc
James Barder, Chief Executive Tel: +44 (0) 1483 845 670
mail to: james.barder@futuramedical.co.uk www.futuramedical.co.uk
Media enquiries:
Buchanan Communications
Mark Court / Tim Anderson / Rebecca Dietrich Tel: +44 (0) 20 7466 5000
Notes to Editors:
Futura Medical plc
Futura Medical is an AIM-listed pharmaceutical drug and medical device group
developing innovative products for sexual health. The Company is developing a
portfolio of products with the intention of licensing their manufacture and
distribution to major pharmaceutical and healthcare groups. Exclusive
worldwide distribution agreements have already been signed in respect of
Futura's two condom safety products, CSD500 and FLD500, with SSL International
plc, the makers of Durex(TM) condoms.
Futura recently announced the results of pharmacokinetic and pharmacodynamic
studies which showed an excellent safety profile and statistically significant
efficacy on the reformulated gel for erectile dysfunction, MED2003.
Futura's primary focus is on Over the Counter (OTC) products with particular
appeal to men and women who are reluctant to discuss potentially embarrassing
sexual matters with their doctors.
In March 2005 Futura announced it had entered into exclusive discussions until
31st December 2005 with a major global pharmaceutical group on a proposed
agreement for the worldwide development and marketing of MED2002 which was
subsequently extended to the 14 February 2006.
This was to allow time for discussions, joint co-operation and certain
development work on MED2002 to be completed with a view to entering into a
potential global distribution agreement.
Phase III trials are scheduled to commence in 2006.
For further information please visit: www.futuramedical.co.uk
This information is provided by RNS
The company news service from the London Stock Exchange