REG - Futura Medical PLC - Futura expands partnership with M8 Pharmaceuticals

Futura MedicalAnnouncement

07/11/2023 07:00

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RNS Number : 5498S  Futura Medical PLC  07 November 2023

 

November 7(th), 2023

 Futura Medical plc

("Futura" or the "Company")

Futura expands partnership with M8 Pharmaceuticals

for remainder of Central and South American region

Futura Medical plc (AIM: FUM) ("Futura" or the "Company"), the pharmaceutical
company developing innovative sexual health products, is pleased to announce
that M8 Pharmaceuticals, Inc ("M8") has taken up its rights to extend its
licensing agreement from Brazil and Mexico to market MED3000 in a further
fourteen countries throughout the Central and South American region.

Futura's commercial agreement with M8 included an option, which has been
exercised, to take up exclusive development and commercialisation rights for
MED3000 throughout South and Central America. Futura has received an
undisclosed upfront milestone payment from M8 as part of the extended
agreement. The extension builds on the agreement signed in August 2021 for the
rights to exclusively develop and commercialise MED3000 in Brazil and Mexico,
the two biggest countries and healthcare markets in South and Central America
and the announcement in October 2023 that M8 has received approval for
MED3000 to be marketed in Mexico as a topical treatment for ED available
OTC without the need for a prescription under the Eroxon® brand.

Apart from the geographic expansion, the commercial terms and initial duration
of the agreement remain unchanged as Futura continues to build a global
distribution network for its breakthrough fast acting and clinically proven
treatment for erectile dysfunction.

James Barder, Chief Executive Officer of Futura said: "This is another major
step forward in the execution of Futura's strategy. M8 is an excellent partner
with dedicated brand-building and marketing experience, as well as scale and
strong pharmaceutical connections in South and Central America and we look
forward to working closely with them across the Latin American region.

"This agreement builds on a string of major successes that Futura has realised
in 2023.  We continue to be excited as the fundamentals of the Company
continue to strengthen. Futura is well positioned as we look forward to a
significant number of new country launches in 2024 across the world."

 

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

Nick Bastin / Jonathan Edwards/ Zoe Bolt / Elena Bates

Email: 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.

About M8 Pharmaceuticals

M8 is a specialty biopharmaceutical company headquartered and incorporated in
the USA focused on licensing, marketing and distributing innovative and
established therapeutics in the two largest South and Central American
markets: Brazil and Mexico. M8 aims to become the preferred pharmaceutical
partner for the licensing of high-value innovative and proven therapies across
our main therapeutic areas CNS, Respiratory, Cardiometabolic, Rheumatology,
Gastroenterology, Onco-hematology and Orphan Diseases. M8 is a Montreux Equity
Partners portfolio company.

For more information, please visit: www.moksha8.com (http://www.moksha8.com)

 

 

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