PET500 Agreement

RNS Number : 7562A

Futura Medical PLC

07 February 2011

 



For immediate release

7 February 2011

Futura Medical plc

("Futura" or "the Company")

Agreement with Ansell for the commercialisation of PET500

Futura Medical plc (AIM: FUM), the pharmaceutical group that develops innovative products for consumer healthcare, is pleased to announce that it has signed an exclusive worldwide agreement with Ansell Limited, one of the world's largest condom makers, for the commercialisation of PET500, Futura's novel product for enhanced sexual control.

PET500 is a topical spray that combines Futura's DermaSys^® AquaFree delivery system with a mild anaesthetic. It is designed to take effect rapidly and to delay male ejaculation. Ansell has already developed the strategy for the launch of the product, which is expected to take place as soon as practicable.

Under the terms of the agreement with Ansell, Futura will receive a significant royalty rate on sales and a modest upfront payment. The branding of the product will be developed by Ansell, which will also be responsible for the product's manufacture and for funding of all regulatory work.

Futura will work closely with Ansell on the successful completion of any clinical work in territories where regulators require additional data.

James Barder, Futura's Chief Executive, said: "We are delighted to announce this agreement for PET500 with Ansell, one of the world's major sexual health and well-being companies, and look forward to working closely with them and making a commercial success of PET500."

For any further information please contact:

Futura Medical plc
James Barder, Chief Executive	Tel: [phone]
mail to: [e-mail]	www.futuramedical.com
Nomura Code Securities Limited
Phil Walker / Giles Balleny	Tel:[phone]
For media enquiries please contact:
Buchanan Communications
Mark Court / Jessica Fontaine	Tel: [phone]

Notes to Editors

Futura Medical plc

Futura Medical is a pharmaceutical group that develops innovative products for consumer healthcare. The Company is developing a portfolio of products and its strategy is to license their manufacture and distribution to major pharmaceutical and healthcare groups.

Futura is based in Guildford, Surrey, and its shares trade on the AIM market of the London Stock Exchange.

www.futuramedical.com

 

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