Futura Medical PLC AGM Statement (1964R)

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RNS Number : 1964R

Futura Medical PLC

13 June 2018

 
  For immediate release                                   13 June 2018 
 

Futura Medical plc

("Futura" or the "Company")

AGM Statement

Futura Medical plc (AIM: FUM), the innovative healthcare company focused on advanced transdermal technology, will hold its Annual General Meeting ("AGM") in London later today.

Futura's Chairman, John Clarke, will make the following statement at the AGM.

"We continue to make good progress in the development and commercialisation of our pipeline of product opportunities.

"Our plans for our first Phase III clinical study of MED2002, the Company's novel gel for erectile dysfunction ("ED") remain on track and we expect to commence first patient dosing by the end of September. The design of the study incorporates feedback from regulators and from potential commercial partners with whom the Company remains at an advanced stage of discussions. This feedback has, for example, highlighted the importance of the initial commercial target markets being men who are dissatisfied by the slow onset of action of PDE5 inhibitors or by side-effects and contraindications, such as those men with ED who are prescribed nitrates.

"Completion of a significant out-licensing agreement for MED2002 remains a top priority for the Company and, whilst negotiations proceed, we will continue to maintain the momentum in the product's development.

"On our novel condom, CSD500, we are pleased to announce that the product has recently received regulatory approval in Kuwait, enabling our commercial partner in the MENA region to launch in Kuwait as soon as practicable. This follows the previous launch in the Kingdom of Saudi Arabia, from which repeat orders continue to be generated. In a number of other countries, the steps towards CSD500 launches are also underway. We continue in commercial discussions with potential partners for CSD500 for those territories where a commercial partner is not currently appointed.

"On TPR100, our diclofenac gel for topical pain relief, we await the UK regulatory dossier submission to the MHRA by Thornton & Ross, a UK subsidiary of STADA. The completion and submission of the dossier, which is substantial, remains a priority and we will provide a further update once the dossier has been filed.

"Futura has a strong balance sheet, an experienced team, an exciting product portfolio and a particularly valuable asset in MED2002, which has the potential to be the world's fastest-acting ED treatment. We look forward to providing further updates in the current financial year."

For any further information please contact:

 
  Futura Medical plc 
  James Barder, Chief Executive              Tel: [phone] 
  mail to: [e-mail]       www.futuramedical.com 
 
  N+1 Singer (Nominated Adviser and 
   Broker) 
  Aubrey Powell / Liz Yong                   Tel:[phone] 
 
  For media enquiries please contact: 
  Buchanan 
  Mark Court / Sophie Wills / Tilly          Tel: [phone] 
   Abraham 
 

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

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June 13, 2018 02:01 ET (06:01 GMT)