MED2002 Update

Futura Medical PLC
14 May 2007

For immediate release                                                14 May 2007

                               Futura Medical Plc
                          ('Futura' or 'the Company')
                   GSK returns development rights for MED2002

Futura Medical plc (AIM: FUM), the pharmaceutical group that develops innovative
products for the consumer healthcare market, announces that GlaxoSmithKline has
decided to return development rights for MED2002 to Futura.  Current priorities
within GSK meant that they were unlikely in the near future to approve a
marketing agreement for MED2002, Futura's topically applied gel for erectile
dysfunction.

Futura's agreement with GSK for the negotiation of global distribution rights
for the provision of pain relief using Futura's trans-dermal delivery technology
is unaffected by the decision to return MED2002 to the Company.

During the period of exclusivity with GSK, Futura has continued to advance
MED2002 considerably in key areas such as onset of action, safety profile and
aesthetics.

Prior to arrangements with GSK, Futura received a significant amount of interest
in an earlier formulation of MED2002 from potential development partners and
distributors. The Company therefore will reopen discussions with potential
licensees with the benefit of the considerable improvements to the product.

James Barder, Futura Medical's Chief Executive, said: 'Whilst we are clearly
disappointed by the decision, the progress in the development of MED2002 has
been significant. We are therefore confident in our ability to secure new
commercial arrangements on favourable terms for the final development and
marketing of MED2002.'

For any further information please contact:

Futura Medical plc                                     Tel: [phone]
James Barder, Chief Executive                            www.futuramedical.co.uk
mail to: [e-mail]

Canaccord Adams                                        Tel: [phone]
Mark Ashurst
Tyler Broda

For any media enquiries please contact:
Buchanan Communications                               Tel: [phone]
Mark Court / Rebecca Dietrich

Notes

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.co.uk

                      This information is provided by RNS
            The company news service from the London Stock Exchange