Sign up United Kingdom
Proactive Investors - Run By Investors For Investors

Futura Medical says discussions with commercial partner over erectile dysfunction drug are at an advanced stage

MED2002 is a rapid onset gel designed for those men where the current pill-based treatments aren’t appropriate, or carry significant side-effects
couple in bed
The company has also developed an 'erectogenic' condom line which has been launched in Saudi Arabia

Futura Medical PLC (LON:FUM) said negotiations over a deal with a partner that would help commercialise its breakthrough erectile dysfunction treatment are at an advanced stage.

MED2002 is a rapid onset gel designed for those men where the current pill-based treatments aren’t appropriate or carry significant side-effects.

The update on progress was provided in the company’s interim results statement.

Chairman John Clarke said: “Discussions towards the out-licensing of MED2002 advanced materially during the year and, as previously stated, we believe that a commercial out-licensing agreement will be announced in the first half of this year though, of course, the timing will also be determined by the detail of negotiations.”

Boost for investors 

The news will buoy shareholders and comes only a day after Futura said interim data indicated its lead drug can be administered in at least two higher-strength doses.

This has a knock-on positive impact for the imminent Phase III clinical trial of MED2002, which is hoped will rubber stamp its huge potential.

Futura’s main commercial product is an erectogenic condom, which was launched in Saudi Arabia with roll-outs in other countries underway or planned.

Skin-focused delivery mechanism

And the company is using its skin-based delivery mechanism to repurpose common painkillers diclofenac and ibuprofen into fast-acting gels.

The company has signed its first out-licensing deal for the technology, known as TPR100, and is in other commercial discussions.

The company’s proprietary technology, the foundation of its product and product candidates, is called DermaSys that delivers active ingredients through the skin in a more effective way than other gel-based systems.

WATCH: Futura Medical advancing commercial discussions and planning further launches

It is both versatile and bespoke in that it can be tailored to suit the specific active compound being used and the therapeutic indication.

For example, in pain relief, this translates into a deeper and longer duration of action, while for erectile dysfunction treatment it enables rapid onset.

Financially solid

Financially, Futura is on solid foundation with just under £8.4mln in the bank as at the year-end.

As is common for companies at this pivotal time in their development, Futura was loss-making for the six months to December 31. The net loss was £3.7mln – marginally above the deficit posted at the same point last year.

View full FUM profile View Profile

Futura Medical PLC Timeline

Related Articles

September 18 2018
The company is utilising technology and big data to tackle the growing healthcare crisis and personalise treatment options for preventative care.
Respiratory syncytial virus causes the common cold, for which there is no effective cure.
Dog skeleton with cannabis plant leaf
July 17 2018
The company's lead drug candidate is a cannabis-derived canine pain medication.

No investment advice

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

© Proactive Investors 2018

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use