28 March 2014

Futura Medical plc (AIM: FUM), the innovative healthcare company focused on advanced transdermal technology, is pleased to announce its preliminary results for the year ended 31 December 2013.

Highlights

  • CSD500 - Significant commercial, technical and regulatory progress:
    • Multiple licensing deals signed, covering key geographic areas including North America, key European countries, Middle East and North Africa, the Nordic region and China
    • Formal award of CE mark from EU regulators
    • Formal award of ISO 13485 certification of quality management system
    • Major product and supply chain improvements to increase shelf life and reduce cost of goods
  • PET500 - Launched in the USA by Ansell under the brand name EPIC®
  • Pain Relief - Two new products added to the portfolio
  • Net loss of £2.21 million (2012: net loss of £2.18 million) with net cash outflow in year of £1.83 million (2012: net cash inflow of £0.23 million)
  • Cash resources of £0.99 million at 31 December 2013 (31 December 2012: £2.82 million); tax credit receivable £0.31 million at 31 December 2013 (31 December 2012: £0.26 million)
  • Successful post year end fundraising of £12.0 million (before expenses) to provide additional working capital and build greater value in our product pipeline

James Barder, Futura's Chief Executive, commented: "After a year of solid progress across our product portfolio, 2014 will be a landmark year for Futura during which we expect to receive our first recurring revenues. We already have our first product PET500 (brand name EPIC®) on the market in the USA and expect the launch of CSD500 on a multi-country basis later this year. Following our recent fundraising, we are ideally positioned to drive value for the Company and to generate returns for shareholders."

The annual report and accounts are available on the Company's website at
www.futuramedical.com

The full results are available to download in PDF format.

A meeting for analysts will be held at 10am this morning, 28 March 2014, at the offices of Buchanan, 107 Cheapside, London EC2V 6DN. For further details contact Buchanan on 020 7466 5000.

 

For further information please contact:

Futura Medical plc
James Barder, Chief Executive
+44 (0) 1483 685 670
james.barder@futuramedical.com
www.futuramedical.com

Nominated Adviser:
N+1 Singer
Aubrey Powell / Liz Yong / Thomas Smale
Tel: +44 (0) 20 7496 3000

For media enquiries please contact:

Buchanan Communications Limited
Mark Court / Sophie Cowles /
Stephanie Watson
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.

www.futuramedical.com