Futura Medical PLC (LON:FUM) has commenced a Phase III study for its MED2002 erectile dysfunction treatment, while its CSD500 erectogenic condom received shelf life approval from regulators.
The AIM-listed pharmaceuticals firm said in an update that the MED2002 trial, which is expecting its first patients to enter study within the next month, would involve 1,000 patients with headline data expected by the end of 2019.
READ: Futura Medical moves closer to commercialisation of TPR100 pain relief gel
The company said that following the completion of the trial, it would seek to partner or sell the asset, adding that advanced licensing discussions had indicated that potential commercial partners were likely to pay more for the product after the trial data had been generated.
Meanwhile, the firm said its CSD500 erectogenic condom had received approval for a two-year shelf life, adding that discussions were ongoing with a number of current and potential distribution partners regarding markets to sell the product.
The regulatory clearance for CSD500 also allowed greater research & development (R&D) focus on the “far greater potential” of its MED2002 asset, Futura said.
WATCH: Futura kicks off phase III study of ED gel
Regarding its TPR100 pain relief gel, the company said it was partnered with consumer healthcare company Thornton & Ross for manufacturing and distribution, adding that it had received expressions of interest that would expand the geographical reach of TPR100 following regulatory authorisation in the UK.
James Barder, chief executive of Futura, said the focus on MED2002 and TPR100 would allow the company to achieve the most value to shareholders, adding that the company was exploring “options for additional funding” as it progressed with the Phase III trial.
The company will release its half-year results on 26 September.