Futura Medical PLC (AIM:FUM, OTC:FAMDF) has entered into a licensing agreement with world-leading consumer health company Haleon PLC (LSE:HLN, NYSE:HLN) for the exclusive US commercialisation rights to Futura’s topical, gel-based erectile dysfunction (ED) treatment MED3000.
AIM-listed Futura, whose sexual health-focused proprietary drug technology DermaSys is in clinical development, said it will receive an upfront payment of US$4mln (£3mln), followed by royalty payments on all MED3000 sales by Haleon.
Haleon will be responsible for all investments and activities related to the launch and marketing of the product in the US, while Futura will provide ongoing technical support for over-the-counter product development and commercialisation opportunities.
Erectile dysfunction is thought to affect at least one in five men globally.
Potential commercial and performance-driven sales under the deal are expected to be between US$5mln and US$45mln.
"The USA is the largest ED market in the world and we believe Haleon, with its strong capabilities in brand-building and marketing through an unrivalled breadth of channels, as well as its connections and market reach, makes it the ideal partner to introduce MED3000 to the millions of ED suffers in the USA who will soon be able to buy MED3000 in US pharmacies, without the need for a doctor's prescription,” said James Barder, chief executive of Futura Medical.