Futura Medical PLC Futura expands partnership with M8 Pharmaceuticals (5498S)
November 07 2023 - 1:00AM
UK Regulatory
TIDMFUM
RNS Number : 5498S
Futura Medical PLC
07 November 2023
November 7(th) , 2023
Futura Medical plc
("Futura" or the "Company")
Futura expands partnership with M8 Pharmaceuticals
for remainder of Central and South American region
Futura Medical plc (AIM: FUM) ("Futura" or the "Company"), the
pharmaceutical company developing innovative sexual health
products, is pleased to announce that M8 Pharmaceuticals, Inc
("M8") has taken up its rights to extend its licensing agreement
from Brazil and Mexico to market MED3000 in a further fourteen
countries throughout the Central and South American region.
Futura's commercial agreement with M8 included an option, which
has been exercised, to take up exclusive development and
commercialisation rights for MED3000 throughout South and Central
America. Futura has received an undisclosed upfront milestone
payment from M8 as part of the extended agreement. The extension
builds on the agreement signed in August 2021 for the rights to
exclusively develop and commercialise MED3000 in Brazil and Mexico,
the two biggest countries and healthcare markets in South and
Central America and the announcement in October 2023 that M8 has
received approval for MED3000 to be marketed in Mexico as a topical
treatment for ED available OTC without the need for a prescription
under the Eroxon (R) brand.
Apart from the geographic expansion, the commercial terms and
initial duration of the agreement remain unchanged as Futura
continues to build a global distribution network for its
breakthrough fast acting and clinically proven treatment for
erectile dysfunction.
James Barder, Chief Executive Officer of Futura said : " This is
another major step forward in the execution of Futura's strategy.
M8 is an excellent partner with dedicated brand-building and
marketing experience, as well as scale and strong pharmaceutical
connections in South and Central America and we look forward to
working closely with them across the Latin American region .
"This agreement builds on a string of major successes that
Futura has realised in 2023. We continue to be excited as the
fundamentals of the Company continue to strengthen. Futura is well
positioned as we look forward to a significant number of new
country launches in 2024 across the world."
ENDS
For further information please contact:
Futura Medical plc
James Barder, Chief Executive Officer
Angela Hildreth, Finance Director and COO
Email: Investor.relations@futuramedical.com
Tel: +44 (0) 1483 685 670
www.futuramedical.com
Nominated Adviser and Sole Broker:
Liberum
Phil Walker/ Richard Lindley/ Ben Cryer
Tel: +44 (0) 20 3100 2000
For media enquiries please contact:
Optimum Strategic Communications
Nick Bastin / Jonathan Edwards/ Zoe Bolt / Elena Bates
Email: futuramedical@optimumcomms.com
Tel: +44 (0) 203 882 9621
About Futura Medical plc
Futura Medical plc (AIM: FUM), is a pharmaceutical company
developing a portfolio of innovative products based on its
proprietary, transdermal DermaSys(R) technology. Each DermaSys(R)
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. Development and
commercialisation strategies are designed to maximise product
differentiation and value creation whilst minimising risk.
MED3000 is Futura's topical gel formulation that is a novel
treatment for erectile dysfunction (ED) through a unique
evaporative mode of action. Futura has conducted two Phase 3
studies using MED3000 in ED; FM57 study which enabled Futura to be
granted a CE Mark in 2021 and FM71 which enabled Futura to be
granted US marketing authorisation. Both studies demonstrated that
MED3000 presents an effective clinically proven treatment for ED
with a rapid speed of onset and a favourable benefit versus risk
profile ideally suited for an 'Over the Counter'
classification.
About M8 Pharmaceuticals
M8 is a specialty biopharmaceutical company headquartered and
incorporated in the USA focused on licensing, marketing and
distributing innovative and established therapeutics in the two
largest South and Central American markets: Brazil and Mexico. M8
aims to become the preferred pharmaceutical partner for the
licensing of high-value innovative and proven therapies across our
main therapeutic areas CNS, Respiratory, Cardiometabolic,
Rheumatology, Gastroenterology, Onco-hematology and Orphan
Diseases. M8 is a Montreux Equity Partners portfolio company.
For more information, please visit: www.moksha8.com
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END
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