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Futura medical in talks over TPR100 licensing deal, looks forward to “highly significant” 2010

Last updated: 09:27 16 Dec 2009 GMT, First published: 10:27 16 Dec 2009 GMT

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Futura Medical (AIM: FUM) said commercial negotiations over its pain relief product TPR100 were underway with a major pharmaceutical business following the completion of in vitro studies, while enhanced sexual control product PET500 could now be marketed in the US without any additional clinical data being required.


PET500, which delays ejaculation for a period of approximately eight minutes, had been modified to comply with the FDA’s (Food and Drug Administration) monograph and could be marketed in the US without any further clinical data, which the company said “reinforced its commercial attractiveness,” adding that discussions with potential partners were ongoing.


Negotiations are also in place over TPR100 after the conclusion of in vitro studies conducted by a major pharmaceutical company, which paid an upfront fee in July to gain exclusive rights to carry out such studies. The company agreed to pay a further upfront fee of £50,000, while the commercial terms of a licensing deal are being negotiated, which may or may not result in a commercialisation agreement for rights to TPR100 in certain territories.


Future said that clinical tests have shown that TPR100 achieves between 30 to 40 times higher bioavailability than those shown by the current market-leading product and that TPR100's speed of permeation brings potential benefits including rapid onset of action of pain relief. TPR100's active ingredient is a non-steroidal anti-inflammatory drug (NSAID) delivered through the skin by Futura's DermaSys technology, which is also used in PET500.


“We look forward to updating our shareholders further in 2010, which promises to be a highly significant year for Futura,” said Chief Executive of Futura James Barder.


Shares in Futura rallied 14% on the news

 

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