Futura Medical PLC
06 July 2005
Press announcement 6th July 2005
Futura Medical Plc
SSL International plc acquires exclusive rights to FLD500 from
Futura Medical plc
Futura Medical plc ('Futura' or 'the Company'), the AIM-listed pharmaceutical
and medical device group that develops innovative products for the sexual
healthcare market, today announced that SSL International plc ('SSL'), the
consumer healthcare brands company and manufacturer and distributor of
Durex(TM), the world's biggest-selling branded condom, has exercised its option
for the global marketing and distribution rights for the Female Lubrication
Device ('FLD500').
FLD500 will be marketed as a Durex(TM) condom targeted at women, who currently
purchase approximately 40% of condoms sold within the UK and are therefore an
important market. FLD500 incorporates a thin film on the outer surface leading
to greater natural lubrication and heightened pleasure for women.
In addition, Futura has already signed an exclusive agreement with LRC Products
Limited, a wholly owned subsidiary of SSL, for the global distribution rights
for the Condom Safety Device ('CSD500'), which incorporates a gel in the teat of
the condom to help healthy men maintain an erection during intercourse.
The terms of the agreement with SSL remain confidential, however these are
essentially similar for both CSD500 and FLD500, except that there is no royalty
advance in return for higher milestone payments in the case of FLD500.
James Barder, chief executive of Futura Medical, said: 'This is a significant
milestone in the progress of the company. We are delighted that SSL has
confirmed its interest in the distribution rights for our second condom product.
Our aim is to partner with major global companies to provide a strong launch
platform for each of our products. We believe that SSL's market leading
position with the Durex(TM) condom brand makes it the ideal partner for both
CSD500 and FLD500.'
Chris Bunniss, SSL's group marketing and innovations director, said: 'Durex is
no longer a brand associated purely with safer sex, but better sex too. We are
constantly looking at the development of innovative products in the area of
sexual enhancement. An example of this is the successful introduction of
Performa, Pleasuremax and Tingle to our condom range, and which now account for
a significant part of our business.
'Durex delivers quality and the female lubrication device has the potential to
be a great product that will help to improve the sex lives of our customers.'
For further information:
Futura Medical plc
James Barder, Chief Executive Tel: +44 (0) 1483 845 670
mail to: james.barder@futuramedical.co.uk www.futuramedical.co.uk
SSL International plc
Vanessa Munnings Tel: +44 (0) 1353 669939
Mail to: vanessa.munnings@myriadpr.com www.durex.co.uk
Media enquiries:
Abchurch
Peter Curtain / Samantha Robbins Tel: +44 (0) 20 7398 7700
mailto: samantha.robbins@abchurch-group.com www.abchurch-group.com
Notes to Editors:
Futura Medical
Futura Medical is an AIM-listed pharmaceutical drug and medical device group
developing innovative products for sexual health. The Company is developing a
portfolio of products with the intention of licensing their manufacture and
distribution to major pharmaceutical and healthcare groups. Several agreements
have been signed.
Futura's primary focus is on Over the Counter ('OTC') products with particular
appeal to men and women who are reluctant to discuss potentially embarrassing
sexual matters with their doctors. The Company has three products in
development and is in discussions to expand the pipeline.
CSD500 is a latex condom incorporating an erectogenic compound within its teat a
gel to help healthy men maintain an erection throughout intercourse, thereby
reducing the likelihood of condom slippage. An exclusive agreement for
worldwide distribution has been signed with SSL International plc, the maker of
Durex(TM).
FLD500, aimed primarily at female partners of male condom users, will help women
maintain lubrication during intercourse, thereby reducing the risk of condom
failure. SSL International plc has exclusive worldwide distribution rights.
In trials, MED2002, a locally applied gel for erectile dysfunction ('ED'), has
shown dramatically improved dermal absorption rates and a dose-ranging study is
currently being conducted prior to commencement of a Phase III study. Futura
has entered into exclusive discussions with a major global pharmaceutical group
for the worldwide development and marketing of MED2002.
A trial to assess the safety of MED2002 in angina patients has already been
successfully completed. Subject to regulatory approval the Company intends to
recruit men suffering from ED with mild to moderate angina into the Phase III
trial. Normal medications taken by angina patients prevent the use of available
ED treatments such as ViagraTM, CialisTM and Levitra(TM).
www.futuramedical.co.uk
This information is provided by RNS
The company news service from the London Stock Exchange
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