Futura Medical PLC's (LON:FUM) James Barder talks to Proactive London's Katie Pilbeam to explain the plans for their £12mln fundraise.
Firstly, manufacturing scale up, the firm needs to commit to certain capex to fully automate production. They have also retained corporate advisers and are expecting to announce further distribution agreements during the remainder of 2021 in addition to the Asia agreement they announced in early March.
Also following the clear guidance from the FDA regarding the protocol they have been able to accurately cost the study at £3 million.
And finally to strengthen balance sheet and fund all required activities for the company through until at least US MED3000 launch.