Licenses CSD500 in Portugal
22 March 2017
Futura Medical plc (AIM: FUM), the innovative healthcare company focused on advanced transdermal technology, is pleased to announce that it has signed an exclusive licensing agreement with F Lima SA ("F Lima") for the marketing and distribution of CSD500, Futura's novel erectogenic condom, in Portugal.
It is expected that F Lima, an established Portuguese business that distributes consumer brands into a broad range of retail outlets including supermarkets and pharmacies, will launch CSD500 under the Blue Diamond brand name as soon as practicable.
The agreement with F Lima marks Futura's eighth licensing agreement for CSD500, which continues to be licensed exclusively on a regional basis to create a global distribution network.
The financial details of the agreement with F Lima are not being disclosed although Futura will receive royalties on all sales, with certain minimum performance criteria and associated royalty payments in the first two years.
Rui Miguel Lima, F Lima's General Manager, said: "We are very excited by the opportunity that Futura's innovative condom gives us in Portugal. We believe that we will be able to build a strong condom brand through CSD500 owing to the product's unique characteristics and its ability to meet customer needs."
James Barder, Futura's Chief Executive, commented: "We are delighted to sign this agreement with F Lima for the marketing and distribution of CSD500 in Portugal. F Lima is a well-established company with a strong track record of building brands in consumer healthcare."
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Notes to editors:
About 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