Futura Medical hails positive regulatory momentum
- Futura Medical agrees third commercial deal for fast-acting erectile gel
- How Futura Medical turned MED3000 into a near-billion pound opportunity
- Futura Medical: More deals will follow after LatAm agreement, says City broker
- Futura Medical reaches licensing deal for erectile dysfunction gel in Brazil and Mexico
Quick facts: Futura Medical PLC
Price: 39.4 GBX
Market Cap: £113.11 m
About the company
Futura Medical PLC is a pharmaceutical company developing a portfolio of innovative products based on its proprietary, transdermal DermaSys technology.
Each DermaSys formulation is separately patented and specifically tailored for the selected indication and application, as well as being optimised for clinical efficacy, safety, administration and patient convenience.
The products are developed for the prescription and consumer healthcare markets as appropriate.
Current therapeutic areas are sexual health, including erectile dysfunction, and pain relief.
How it is doing
It has teamed up with a Swiss company called Labatec Pharma, which will oversee the regulatory sign-off of the product in the Gulf Co-operation Council (GCC) region as well as Jordan, Lebanon and Iraq.
Under the terms of the eight-year deal, Futura said it would be eligible for undisclosed upfront and milestone payments, with Labtec incurring the development, regulatory and marketing costs.
The relationship can be extended by two years by mutual consent.
Futura Medical PLC (AIM:FUM) said the first patient has been recruited for a confirmatory trial of its fast-acting gel for erectile dysfunction (ED) supporting the regulatory submission for the product in the US.
The pharma group said the FM71 evaluation of Futura’s MED3000 and the non-clinical human factors study are now progressing in parallel with completion expected in the second quarter of next year.
Insight: How Futura Medical turned MED3000 into a near-billion pound opportunity
What the brokers say
That at least is the opinion of City broker Liberum, which reiterated its ‘buy’ recommendation and 102p a share price target following the tie-up with m8 Pharmaceuticals.
“Futura is talking to many more potential partners as it works to build the global commercialisation landscape, and we expect more licensing agreements to be signed in the coming months,” said Liberum in a note to clients.
What management says
Futura Medical PLC (AIM:FUM) chief executive James Barder joined Proactive's Stephen Gunnion with news of a licensing deal which should see its fast-acting erectile dysfunction gel introduced to Brazil and Mexico.
Barder telling Proactive that it will receive payments on all sales of its MED3000 treatment by m8 Pharmaceuticals.
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...
In exchange for publishing services rendered by the Company on behalf of named herein, including the promotion by the Company of in any Content on the Site, the Company receives from said issuer annual cash...FOR OUR FULL DISCLAIMER CLICK HERE