Board Changes, Business Update & Notice of Results

Futura Medical

08/08/2025 07:00

RNS Number : 5061U

Futura Medical PLC

08 August 2025

 

8 August 2025

 

Futura Medical plc

("Futura" or the "Group")

 

Board Changes, Business Update and Notice of Interim Results

 

Futura Medical plc (AIM: FUM), is pleased to announce that, further to the Board Changes announced on 8 July 2025, Alex Duggan has been appointed to the Board of Directors as interim Chief Executive Officer. This follows the completion of all required due diligence and regulatory checks. Alex brings over 25 years of leadership experience in the Consumer Healthcare and Prescription (Rx) sectors. He has a proven track record of driving business transformation through M&A, operations and organic growth across global markets.

 

The Group also announces that Angela Hildreth has notified the Board of her intention to step down as Finance Director and Chief Operating Officer. Angela will remain in her role and as a Director of the Company during her six-month notice period, continuing to support the Group and overseeing an orderly handover of responsibilities once a successor has been appointed. The Board would like to thank Angela for her significant contribution and commitment to the business throughout her tenure.

 

Business Update

 

As a new product in a new category, Eroxon sales performance remains unpredictable and sales trends (including the impact of previous channel fill) remain challenging to identify and predict. The momentum of sales of Eroxon continues to be slower than originally anticipated, with varying degrees of traction across different territories.

 

Reflecting on this slower momentum, alongside the challenges and learnings from Eroxon's initial product launches, the Board, led by Alex Duggan, is conducting a thorough review of the current business and its commercial plans. This includes, but is not limited to, the Company's sales and marketing strategies for Eroxon as well as the costs associated with the business and other possible strategic options available to the Group.

 

The Board anticipates that it will be able to provide an initial update on its review of the business and strategy at the time of its interim results, which are currently expected to be published in late September. 

 

Andrew Unitt, Senior Independent Director, commented:

 

"We are pleased to formally welcome Alex to the Board. His experience and decisive leadership will undoubtably prove instrumental at this phase of the Group's development.

 

We are grateful to Angela for her many years of dedicated service to the Company, during which she oversaw a period of significant development. We wish her all the best in her next chapter."

 

Alex Duggan, CEO of Futura, commented:

 

"I am pleased to join the Board and to step into the interim CEO role at this pivotal juncture for the Group. I will be working closely with the Board and the wider team in my review of the business, its priorities, and its strategic options over the period ahead. Our priority is to deliver a clear strategy that will maximise value for shareholders, commercial partners and employees."

 

In accordance with Schedule 2 paragraph (g) of the AIM Rules for Companies, Alexander James Hanbury Duggan (aged 54 years) holds/has held the following directorships/partnerships in the last five years:

 

Current
Past 5 years
Cryotag Limited
Maelor Laboratories Limited
Appia Healthcare Limited
Alliance Pharmaceuticals Limited
AMD Consulting Limited
Proprietary Association of Great Britain
Opus Healthcare Limited
Alliance Pharma (Ireland) Limited
Alliance Pharmaceuticals SAS
Alliance Pharma France SAS
Alliance Pharmaceuticals GMBH
Alliance Pharma Srl
Alliance Pharmaceuticals Spain SL
Advanced Bio-Technologies, Inc
Alliance Pharma Inc
Alliance Pharmaceuticals (Asia) Ltd
Synthasia International Company Ltd
Alliance Pharma (Singapore) Pte Ltd
Alliance Pharmaceuticals (Thailand) Co., Ltd
Alliance Pharmaceuticals (Philippines) Corp
Alliance CHC (India) Pte Ltd

 

Alexander Duggan was a Director of The Paradigm Organisation Ltd, appointed on 26 June 1996. Following a court order to wind up the business on 21 October 1997, Alexander Duggan resigned as a Director on 24 October 1997 and the Company dissolved on 10 April 2000.

 

There are no further disclosures to be made pursuant to Schedule 2 paragraph (g) of the AIM Rules for Companies.

 

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
Alex Duggan
Interim Chief Executive Officer
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
Emma Thompson
+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 Erectile Dysfunction ("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 a number of healthcare industry awards and has won two to-date.

 

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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