14th Oct 2015 07:00
Press Release | 14 October 2015 |
Quantum Pharma Plc
("Quantum" or the "Company")
Exclusive Licensing Agreement with Futura Medical plc
Quantum Pharma Plc (AIM: QP.), the growing service-led niche pharmaceutical manufacturer, developer and supplier to the health and care sectors, today announces that it has signed an exclusive agreement with Futura Medical plc (AIM: FUM) the healthcare company which is focused on advanced transdermal technology, to manufacture and make available MED2002, Futura's novel treatment for erectile dysfunction, as an unlicensed medicine (special) in the UK (the "Agreement").
Under the terms of the Agreement, Quantum has been granted exclusive rights to manufacture and supply MED2002 as a special in the UK. In return Quantum will pay to Futura undisclosed royalty payments on the sale of the product.
A special is an unlicensed medicine which is prescribed to a patient when the licensed form of a drug does not meet their specific clinical need, or when there is no licensed form of drug available on the market suitable to treat their condition. Specials are requested and prescribed for treatment by appropriately qualified doctors under their own authority.
Quantum Pharmaceutical is the leading manufacturer and supplier of specials and special obtains to retail pharmacies and wholesalers in the UK. Quantum's significant experience within the specials marketplace enabled the Company to work with Futura to develop manufacturing processes, testing methods, product development and production scalability to allow MED2002 to be made available as a special.
It is estimated by Futura that 7.5% of patients who suffer from erectile dysfunction cannot be prescribed PDE5 inhibitors, such as Viagra®, owing to contraindications with other medicines they take. MED2002 is designed to meet this currently unmet need.
In the most recent data published by the NHS spending on drugs to treat erectile dysfunction in General Practice in England exceeded £80 million per annum1.
The Agreement is a related party transaction pursuant to Rule 13 of the AIM Rules for Companies as Quantum and Futura share the same Non-Executive Chairman, John Clarke. The Directors of Quantum, with the exception of Mr Clarke who has taken no part in the negotiation of the Agreement other than to effect the introduction between the parties to it, consider, having consulted with Zeus Capital, Quantum's Nominated Adviser, that the terms of the Agreement are fair and reasonable insofar as Quantum's shareholders are concerned.
Andrew Scaife, CEO of Quantum Pharma, said: "We are very pleased to be working with Futura to make MED2002 available on prescription as a special whilst Futura seeks to gain its marketing authorisation. MED2002 is a new and exciting product designed by Futura to meet an unmet medical need in the significant erectile dysfunction market."
The promotion of unlicensed medicines is prohibited by Human Medicines Regulations 2012. As such, this announcement contains only the factual information necessary to be disclosed to allow the Company to comply with its obligations under the AIM Rules for Companies. It is not intended to be nor should be treated as an advertisement, promotion or endorsement of MED2002 for any medicinal purposes.
1. http://www.nhsbsa.nhs.uk/PrescriptionServices/Documents/PPDPrescribingAnalysisCharts/Endocrine_National_Mar_12.pdf
- Ends -
For further information:
Quantum Pharma Plc |
|
Andrew Scaife, Chief Executive Officer | Tel: +44 (0) 1207 279 404 |
Martin Such, Chief Financial Officer | www.quantumpharmaplc.com
|
Zeus Capital Limited (Nominated Adviser & Broker) |
|
|
|
Andrew Jones / Nick Cowles / Jamie Peel | Tel: +44 (0) 161 831 1512 |
Dominic Wilson / John Goold | Tel: +44 (0) 20 3829 5000 |
| www.zeuscapital.co.uk |
|
|
Media enquiries:
Abchurch Communications |
|
Jamie Hooper / Alex Shaw | Tel: +44 (0) 20 7398 7719 |
www.abchurch-group.com |
Notes to Editors
Quantum Pharma is a service-led, niche pharmaceutical manufacturer, developer and supplier to the retail pharmacy, pharmaceutical wholesale, hospital, homecare and care home markets. Quantum Pharma operates through eight business units offering a portfolio of innovative and complementary products and services to primary and secondary care providers.
Quantum Pharmaceutical manufactures and supplies specials and special obtains for pharmacy chains, pharmaceutical wholesalers, hospitals and independent pharmacies in the UK.
Colonis a product development business which takes niche pharmaceutical products through the regulatory pathway to achieve licensed and/or regulated status.
Lamda a full service contract development specialist with customers across Europe.
Quantum Aseptic Services manufactures aseptically prepared sterile intravenous products, either individually for named patients or in batches.
UL Medicines sources and supplies unlicensed imported medicines and specials to hospitals, community pharmacies and wholesalers in the UK and overseas.
NuPharm offers product development, clinical trials product manufacture, and outsourced manufacture for solid and liquid dose batch-made specials and niche licensed medicines.
Biodose® a medicines delivery system that accommodates liquid and solid medication, supporting medicines administration and adherence for 50,000 patients, their carers and clinicians with Biodose Services® delivering pre-prepared medication regimes to care homes.
For further information, please visit www.quantumpharmagroup.com.
Related Shares:
Quantum Pharma