Futura Medical PLC (LON:FUM) has signed a licensing agreement with one of the UK’s leading consumer healthcare companies to commercialise its fast-acting pain relief gel.
The deal is with German group STADA, which owns Huddersfield-based Thornton & Ross.
T&R will manufacture, market and distribute Futura’s TPR100 here in Britain for the lifetime of the product's patents, which run to at least 2028.
The magic of TPR100 lies not with the painkiller, which is the common anti-inflammatory diclofenac; the DermaSys delivery mechanism is the key as it allows the drug to permeate rapidly through the skin.
A “delighted” chief executive James Barder said: “This agreement is an important milestone for Futura as it marks the first commercial validation of the company's pain relief portfolio.
“We look forward to working with Thornton & Ross on the initial manufacturing scale-up of TPR100, followed by its registration and subsequent commercial launch."
The company’s lead product is MED2002, a fast acting gel for men with erectile dysfunction. It has also developed a condom that uses the technology.
Speaking to Proactive, he noted that Stada was in the top 15 generic pharmaceutical groups in the world with sales of over €2bn.
"They (Stada) will also be doing all the manufacturing scale -up and all the costs associated with that," he said, adding he expects submission for UK regulatory approval later this year.
"I think 2017 is going to be a very exciting year," he told reporter Charlotte Kan.
On the launch of CSD500, the group's erectogenic condom, for sale in Saudi Arabia under the brand name Futura Max Manex Super, he said it was also very exciting.
He said the firm believes there was an opportunity to get up to 10% market share for the product in Saudi and the MENA Middle East and North Africa (MEA) region.
Shares added 0.88% to stand at 57.5p.