Board Changes

Futura Medical

08/07/2025 07:00

RNS Number : 0675Q

Futura Medical PLC

08 July 2025

 

8 July 2025

 

Futura Medical plc

("Futura" or the "Group")

Board Changes

 

Futura Medical plc (AIM: FUM), the consumer healthcare Group behind Eroxon®, that specialises in the development and global commercialisation of innovative and clinically proven sexual health products, announces that following discussions between the Board and its largest shareholder concerning its desire to see fresh leadership, Jeff Needham and James Barder have agreed to step down from the Board as Non-Executive Chair and Chief Executive Officer respectively with immediate effect.

 

The Board has proposed that Alex Duggan be appointed as Interim Chief Executive Officer and to the Board of Directors. Alex brings over 25 years of experience in Consumer Healthcare and Prescription (Rx) sectors, having successfully scaled global businesses across Europe, Asia, North America, and Latin America. Most recently, Alex served as Chief Commercial & Corporate Development Officer at Alliance Pharmaceuticals, a UK-based consumer healthcare company. During his tenure, the company was privatised and sold at a substantial premium. Alex played a pivotal role in Alliance's transformation, in particular leading the growth of its Consumer Healthcare business by c.70x with both organic and inorganic growth strategies. Previously Alex has held multiple leadership positions within consumer healthcare organizations and served as a Board Member of the Proprietary Association of Great Britain (PAGB), the UK trade association representing manufacturers of branded over-the-counter medicines, self-care medical devices, and food supplements.

 

Alex is expected to join the Company in early August. He will work with Angela Hildreth (Finance Director & Chief Operating Officer) and the Board to ensure an orderly handover of the CEO responsibilities and to conduct a review of the current business. The appointment is subject to completion of due diligence checks by the Company's Nominated Adviser. A further announcement regarding the appointment, including the disclosures required under the AIM Rules for Companies, will be made once the due diligence checks are complete.

 

Alex Duggan, Futura's incoming Interim Chief Executive Officer commented: "I'm pleased to be joining Futura on an interim basis to review the business performance and develop the future strategy. The patented technology behind the Eroxon® brand, along with the pipeline of new products in development, should hold strong potential for broad global consumer appeal. I look forward to reviewing the current commercial plans, results of the initial market launches and working with the team to shape a strategy that maximises value for shareholders, commercial partners, and employees."

 

Andrew Unitt, Senior Independent Non-Executive commented: "The Board looks forward to working with Alex and leveraging the considerable experience he brings as a business leader and director with over 25 years in Consumer Healthcare and prescription medicine. I would also like to thank both Jeff and James for their significant efforts in enabling Eroxon® to now be available over the counter in 25 countries across the world. The Board recognises this is a significant achievement."

 

James Barder commented: "Building the Group to what it is today has been a long challenging journey and one that I am proud of. We have worked hard to develop a product that is effective, addresses an unmet market need and can be commercialised. We have successfully commercialised Eroxon in multiple territories, signed significant partnerships to take the product to market and delivered the Group's first revenues and profit. I leave the business with my best wishes."

 

The information communicated in this announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014 as amended by the Market Abuse (Amendment) (EU Exit) Regulations 2019.

 

Contacts:

Futura Medical plc
Angela Hildreth
Finance Director and COO
investor.relations@futuramedical.com
+44 (0)1483 685 670
www.futuramedical.com
Panmure Liberum
Nominated Adviser
and Broker
Emma Earl, Will Goode, Mark Rogers (Corporate Finance)
Rupert Dearden (Corporate Broking)
+44 (0)20 3100 2000
Alma Strategic Communications
Rebecca Sanders-Hewett
Sam Modlin
Will Ellis Hancock
+44 (0)20 3405 0205
futura@almastrategic.com


 

Notes to Editors:

Futura Medical plc (AIM: FUM) is the developer of innovative sexual health products, including lead product Eroxon® and products WSD4000 and Eroxon® Intense. Our core strength lies in our research, development and commercialisation of topically delivered gel formulations in sexual health products.

Sexual health issues are prevalent in both men and women. ED impacts 1 in 5 men globally across all adult age brackets, with approximately half of all men over 40 experiencing ED and 25% of all new diagnoses being in men under 40. Around 60% of women experience at least one symptom of sexual dysfunction, and only one in four women seek professional help, and remain chronically underserved.

Eroxon®, Futura's clinically proven lead product, has been developed for the treatment of ED. The highly differentiated product, which is the only topical gel treatment for ED available over the counter and helps men get an erection in ten minutes, addresses significant unmet needs in the ED market. Eroxon® has been nominated for and won a number of healthcare industry awards.

Futura has distribution partners in place in a number of major consumer markets including Haleon in the US, the largest market for ED in the world, and Cooper Consumer Health in Europe.

 

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