13 May 2014
Futura Medical plc (AIM: FUM), the innovative healthcare company focused on advanced transdermal technology, will hold its Annual General Meeting in London later today.
At the meeting Futura's Chairman, John Clarke, will make the following statement:
"We continue to make significant progress at Futura with our main focus currently being on product launches during 2014 and 2015.
"PET500, our innovative spray for enhanced sexual control, is now available in more than 850 stores throughout the USA, where the product is now also available online. PET500 is licensed worldwide to Ansell Limited and marketed in the USA under the brand name EPIC®.
"Launch plans for CSD500, our novel condom containing an erectogenic gel, are progressing well and we currently expect the first country launch by the end of Q3, 2014. We anticipate this will be followed by several country specific launches during the remainder of 2014 with further launches during 2015. These launches will include countries within Europe, Middle East and North Africa, assuming timely regulatory approvals where applicable, and involve all our previously announced licensing agreements in these regions.
"We have recently signed an agreement with an established condom distributor in the Benelux region to distribute CSD500 under a Futura brand. We also have further licensing agreements under discussion and CSD500 could potentially be launched in South America by early 2015.
"We have recently submitted an application to the relevant regulatory body to refine the manufacturing process of CSD500, which, if successful, will further extend the shelf life and may lead to a reduction in cost of goods. In addition, we have started to gain regulatory approvals outside of Europe to support our launch plans in other territories.
"The recent fundraising has allowed us to accelerate the development of our AGM Statement and of MED2002, our topical treatment for erectile dysfunction. We expect clinical studies to start in respect of these programmes before the end of the year.
"This is an important and exciting year for Futura. By the year end, at least two of our products are set to be generating recurring revenues from a number of different countries. We look to the future with confidence."
For further information please contact:
Aubrey Powell / Liz Yong / Thomas Smale
Tel: +44 (0) 20 7496 3000
For media enquiries please contact:
Buchanan Communications Limited
Mark Court / Sophie Cowles /
Tel: +44 (0) 20 7466 5000
Notes to Editors
Futura Medical plc
Futura Medical is a pharmaceutical group that develops innovative products for consumer healthcare. The Company is developing a portfolio of products and its strategy is to license their manufacture and distribution to major pharmaceutical and healthcare groups.
Futura is based in Guildford, Surrey, and its shares trade on the AIM market of the London Stock Exchange.