Futura Medical soars as EU clears way for marketing of company's erectile dysfunction gel
"The recommendation to approve MED3000 in Europe is a huge milestone for Futura in the development of MED3000"
Company
LON:FUM
Futura Medical specialises in the development and global commercialisation of innovative sexual health products, including lead product Eroxon®. The company's core strength lies in its research, development and commercialisation of topically delivered gel formulations in sexual health products.
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"The recommendation to approve MED3000 in Europe is a huge milestone for Futura in the development of MED3000"
Deep Dive - Futura Medical PLC
Futura Medical has created a technology called DermaSys that delivers active pharmaceuticals through the skin barrier rapidly and effectively
It has brought in new funds and found a co-development partner
The pharma company has submitted a final detailed clinical study protocol to the FDA and a meeting has been scheduled for February to agree on details of a statistical analysis plan for the MED3000 treatment
In an update, investors were told discussions were taking place with a “growing number” of potential partners interested in helping Futura exploit the commercial potential of MED3000 as an over-the-counter treatment
The company has developed a fast-acting erectile dysfunction product that could be sold over the counter
Ther group has done so by securing a positive audit opinion for the quality management systems (QMS) around its sexual health product MED3000
It has just completed initial laboratory and optimisation work on the new product
Approval is being sought for MED3000 to be sold over-the-counter without a prescription
The update was provided in a statement accompanying the firm's annual meeting
The broker said with the right commercialisation partner, the firm's erectile dysfunction treatment could take a 15% market share in the US and EU
Futura has filed for a further pre-submission meeting with the FDA to follow up the initial presentation of existing clinical evidence from the FM57 study to the FDA in February
The company expects the second meeting with the US food and drug regulator to take place in the coming months
“Following positive feedback after consultations with regulators we are confident MED3000 has a well-defined path to approval as a medical device as a clinically proven ED [erecrtile dsyfunction] therapy,” said chief executive James Barder
The March 26 gathering will hear from Ken James, the company’s head of research and development
In the update, it also said a meeting is lined up with American regulators this quarter
Archive
A glance at some of the day's highlights from the Proactive Investors newswire
The issue of new shares is being 'cornerstoned' by Swiss Private Bank Lombard Odier, while a retail tranche will be done via the financial platform Primary Bid
The delivery mechanism for the company's erectile dysfunction drug appeared to have a clinically significant impact on men with the condition