REG - Futura Medical PLC - Board Change

Futura MedicalAnnouncement

18/07/2023 11:15

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RNS Number : 3918G  Futura Medical PLC  18 July 2023

 

18 July 2023

Jeff Needham to succeed John Clarke as Non-Executive

Chairman of Futura Medical plc

 

Futura Medical plc (AIM: FUM) ("Futura" or the "Company"), a pharmaceutical
company developing a portfolio of innovative products based on its
proprietary, transdermal DermaSys® drug delivery technology focused on sexual
health, announces that Non-Executive Chairman, John Clarke has stepped down
and is succeeded by existing Non-Executive board member, Jeff Needham.

John joined Futura on 1 November 2011 and has been instrumental in driving the
Company's strategy and success in securing commercial partnerships. His
departure is part of a planned transition with Independent Non-Executive
Director, Jeff succeeding John as Chairman. Jeff has been a Non-Executive
Director of the Company since October 2021. A search for a new Non-Executive
Director is underway and an announcement will be made in due course. The
Company continues its progress in a pivotal year of success in broadening the
distribution and availability of MED3000 across different markets, worldwide.

James Barder, Chief Executive Officer of Futura, said: "John has been an
outstanding leader and has been instrumental in shaping the growth of Futura
since his appointment. On behalf of the board and the Futura team I would like
to thank him for his significant contributions and critical guidance and
leadership. We wish John all the best for the future and in his new roles
elsewhere. As the commercialisation of MED3000 continues to gather pace in the
US and globally, we are fortunate to have a natural successor on the board.
Jeff's extensive experience and expertise with the consumer healthcare
products industry, in particular in the US market, will be invaluable as
Futura enters an exciting new chapter in its development."

 

John Clarke, departing Chairman of Futura, commented: "Following yesterday's
announcement of the Company's US collaboration with global leading consumer
healthcare company, Haleon, and as the Company enters its next stage of
growth, it is the appropriate time for me, after twelve years to move on. It
has been a privilege to work with the Futura team, seeing transformational
progress, growth and execution. Achieving FDA approval for our lead product
MED3000 was a critical focus for me as Chairman, significantly de-risking
MED3000 and allowing the Company to negotiate a US commercialisation deal that
would make MED3000 available to consumers in the largest ED market worldwide.
It is now a pleasure to pass the baton to Jeff who I trust to continue to lead
the business on its next stage of growth and innovation."

-ENDS-

 

 

 

For further information, please contact:

 

Futura Medical plc

James Barder, Chief Executive Officer

Angela Hildreth, Finance Director and COO

Email: investor.relations@futuramedical.com
(mailto:Investor.relations@futuramedical.com)

Tel: +44 (0) 1483 685 670

www.futuramedical.com (http://www.futuramedical.com/)

 

Nominated Adviser and Sole Broker:

 

Liberum

Phil Walker/ Richard Lindley/ Ben Cryer

Tel: +44 (0) 20 3100 2000

 

For media enquiries please contact:

 

Optimum Strategic Communications

Hollie Vile/ Jonathan Edwards/ Zoe Bolt

Email: futuramedical@optimumcomms.com (mailto:futuramedical@optimumcomms.com)

Tel: +44 (0) 203 882 9621

 

About Futura Medical plc

 

Futura Medical plc (AIM: FUM), is a pharmaceutical company developing a
portfolio of innovative products based on its proprietary, transdermal
DermaSys® technology. Each DermaSys® formulation is separately patented and
specifically tailored for the selected indication and application, as well as
being optimised for clinical efficacy, safety, administration and patient
convenience. The products are developed for the prescription and consumer
healthcare markets as appropriate. Development and commercialisation
strategies are designed to maximise product differentiation and value creation
whilst minimising risk.

 

MED3000 is Futura's topical gel formulation that is a novel treatment for
erectile dysfunction (ED) through a unique evaporative mode of action. Futura
has conducted two Phase 3 studies using MED3000 in ED; FM57 study which
enabled Futura to be granted a CE Mark in 2021 and FM71 which enabled Futura
to be granted US marketing authorisation. Both studies demonstrated that
MED3000 presents an effective clinically proven treatment for ED with a rapid
speed of onset and a favourable benefit versus risk profile ideally suited for
an 'Over the Counter' classification.

 

Eroxon® is FDA approved in the US, CE marked in Europe and UKCA marked in
the UK as a clinically proven topical treatment for adult men with
erectile dysfunction under the brand Eroxon® with a key claim of "Helps you
get an erection within 10 minutes". Eroxon® is the agreed brand name in
certain regions such as the EU whereas MED3000 continues to be the internal
code name used by the Company and also in reference to countries where
regulatory approval or commercial distribution agreements have not yet been
achieved. www.eroxon.com (http://www.eroxon.com)

 

Futura is based in Guildford, Surrey, and its shares trade on the AIM market
of the London Stock Exchange. www.futuramedical.com
(http://www.futuramedical.com/) .

 

 

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