REG - Futura Medical PLC - Board Changes

Futura MedicalAnnouncement

Tue 07:00

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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                                         investor.relations@futuramedical.com

                                                       (mailto:Investor.relations@futuramedical.com)
                                Finance Director and COO

                                                       +44 (0)1483 685 670

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

 Panmure Liberum                Emma Earl, Will Goode, Mark Rogers (Corporate Finance)  +44 (0)20 3100 2000

 Nominated Adviser              Rupert Dearden (Corporate Broking)

 and Broker

 Alma Strategic Communications  Rebecca Sanders-Hewett                                  +44 (0)20 3405 0205

                                Sam Modlin                                              futura@almastrategic.com

                                Will Ellis Hancock

 

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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