Futura Medical PLC
01 July 2004
1st July 2004
Futura Medical plc
Sale of royalty rights
On 19th January 2004 Futura Medical plc ('Futura' or 'the Company'), the
AIM-listed pharmaceutical and medical device group that develops innovative
products for the sexual healthcare market, announced the settlement of an
intellectual property dispute with CST Medical Limited ('CST').
Under the settlement agreement with CST ('agreement'), certain intellectual
property was transferred to Futura together with 10 per cent of the issued share
capital of CST which has since been diluted by subsequent fundraising by CST.
In addition Futura agreed to receive a royalty in respect of sales of the Vielle
stimulator up to 31 December 2008.
On 25th June 2004 CST agreed to sell its existing Vielle operation, in respect
of United Kingdom and Republic of Ireland, to DDD Limited, the pharmaceutical,
toiletries and household brands company.
Futura now announces that, on 1st July, it agreed the sale of its royalty rights
with CST in respect of the UK and the Republic of Ireland for a one-off cash
payment of £125,000 and certain costs. Futura retains its stake in CST along
with the royalty rights on sales of the Vielle stimulator in territories outside
the United Kingdom and Republic of Ireland.
For further information:
Futura Medical plc
James Barder, Chief Executive Tel: +44 (0) 1483 685 670
mailto:james.barder@futuramedical.co.uk www.futuramedical.co.uk
Media enquiries:
Bankside
Peter Curtain / Alex Tweed Tel: +44 (0) 20 7444 4140
mailto:alexandra.tweed@bankside.com www.bankside.com
This information is provided by RNS
The company news service from the London Stock Exchange