Futura Medical PLC (AIM:FUM, OTC:FAMDF) has inked an exclusive licensing deal for its erectile dysfunction (ED) gel covering South Korea.
It is teaming up with the local subsidiary of Menarini Group, a large Italian biopharma business.
Futura will support the effort to gain Korean marketing sign-off for MED3000, while its partner will be responsible for the costs associated with this push.
Futura chief executive James Barder said: “Menarini is a trusted partner in the region that is perfectly situated to market retail products, with local teams that have deep understanding and experience of the South Korean market as well as significant expertise and a track record in rapidly registering and launching new products. We look forward to collaborating closely with the team at Menarini.”
He said the company was continuing to build a strong and specialist distribution network for MED3000 across the globe focused on the key top 15 markets, especially where the product already has been granted regulatory approval.
“We look forward to providing further updates on commercialisation as soon as possible," Barder added.