Licenses CSD500 to Church & Dwight
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For immediate release |
2 April 2013 |
Futura Medical PLC
("Futura" or the "Company")
Futura licenses CSD500 to Church & Dwight
Futura Medical plc (AIM: FUM), the pharmaceutical group that develops innovative products for consumer healthcare, announces that it has signed a licensing deal with Church & Dwight Co Inc, the major US consumer products group whose brands include Trojan® condoms, for the marketing and distribution of CSD500, Futura's novel condom.
Trojan® is the number one condom brand in North America and the world's second biggest condom brand by product sales.
Under the terms of the agreement, Church & Dwight will hold the rights to manufacture, market and distribute CSD500 in North America and in a number of key European territories.
The financial details of the agreement are not being disclosed although Futura will receive an upfront payment and royalties on all product sales along with certain minimum performance guarantees.
Adrian Huns, Church & Dwight's President of International Consumer Products, commented: "CSD500 is a genuinely novel condom that marks a major breakthrough in condom technology. We look forward to working with Futura on the successful completion of the required approvals necessary ahead of the launch in Europe and North America of a completely new type of condom from a highly trusted brand."
James Barder, Futura's Chief Executive, commented: "We are delighted to sign this pivotal agreement with Church & Dwight for the marketing of CSD500 as a Trojan®-branded condom in North America and in key territories in Europe. Trojan® is one of the world's biggest condom brands and the number one brand in North America."
"The agreement is in line with the Board's preferred strategy of licensing CSD500 on a geographic basis to condom distributors that hold leading positions in their regions. We continue to negotiate CSD500 rights for other major territories and believe that this strategy will create optimal value for shareholders."
For further information:
Futura Medical plc |
+ 44 (0) 1483 685 670 |
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James Barder, Chief Executive |
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Mail to: James.Barder@futuramedical.com |
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Nomura Code Securities Limited |
+ 44 (0) 20 7776 1200 |
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Phil Walker / Giles Balleny |
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Buchanan |
+ 44 (0) 20 7466 5000 |
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Mark Court / Fiona Henson / Sophie Cowles |
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Notes to editors:
About 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.
This information is provided by RNS
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