logo-loader
viewFutura Medical PLC

Futura Medical says discussions with commercial partner over erectile dysfunction drug are at an advanced stage

MED2002 is a rapid onset gel designed for those men where the current pill-based treatments aren’t appropriate, or carry significant side-effects

couple in bed
The company has also developed an 'erectogenic' condom line which has been launched in Saudi Arabia

Futura Medical PLC (LON:FUM) said negotiations over a deal with a partner that would help commercialise its breakthrough erectile dysfunction treatment are at an advanced stage.

MED2002 is a rapid onset gel designed for those men where the current pill-based treatments aren’t appropriate or carry significant side-effects.

The update on progress was provided in the company’s interim results statement.

Chairman John Clarke said: “Discussions towards the out-licensing of MED2002 advanced materially during the year and, as previously stated, we believe that a commercial out-licensing agreement will be announced in the first half of this year though, of course, the timing will also be determined by the detail of negotiations.”

Boost for investors 

The news will buoy shareholders and comes only a day after Futura said interim data indicated its lead drug can be administered in at least two higher-strength doses.

This has a knock-on positive impact for the imminent Phase III clinical trial of MED2002, which is hoped will rubber stamp its huge potential.

Futura’s main commercial product is an erectogenic condom, which was launched in Saudi Arabia with roll-outs in other countries underway or planned.

Skin-focused delivery mechanism

And the company is using its skin-based delivery mechanism to repurpose common painkillers diclofenac and ibuprofen into fast-acting gels.

The company has signed its first out-licensing deal for the technology, known as TPR100, and is in other commercial discussions.

The company’s proprietary technology, the foundation of its product and product candidates, is called DermaSys that delivers active ingredients through the skin in a more effective way than other gel-based systems.

WATCH: Futura Medical advancing commercial discussions and planning further launches

It is both versatile and bespoke in that it can be tailored to suit the specific active compound being used and the therapeutic indication.

For example, in pain relief, this translates into a deeper and longer duration of action, while for erectile dysfunction treatment it enables rapid onset.

Financially solid

Financially, Futura is on solid foundation with just under £8.4mln in the bank as at the year-end.

As is common for companies at this pivotal time in their development, Futura was loss-making for the six months to December 31. The net loss was £3.7mln – marginally above the deficit posted at the same point last year.

Quick facts: Futura Medical PLC

Price: 11.875 GBX

AIM:FUM
Market: AIM
Market Cap: £29.17 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Futura Medical PLC named herein, including the promotion by the Company of Futura Medical PLC in any Content on the Site, the Company receives...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Futura Medical kicks off work on Phase III trial for erectile dysfunction gel

James Barder, chief executive of Futura Medical PLC (LON:FUM), tells Proactive they've begun preparatory work on the first Phase III efficacy trial for MED2002 - their topical gel for erectile dysfunction (ED). The study will recruit approximately 1,000 patients with mild, moderate and...

on 27/4/18

2 min read