6th Jul 2005 07:00
Futura Medical PLC06 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 pharmaceuticaland medical device group that develops innovative products for the sexualhealthcare market, today announced that SSL International plc ("SSL"), theconsumer 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 currentlypurchase approximately 40% of condoms sold within the UK and are therefore animportant market. FLD500 incorporates a thin film on the outer surface leadingto greater natural lubrication and heightened pleasure for women. In addition, Futura has already signed an exclusive agreement with LRC ProductsLimited, a wholly owned subsidiary of SSL, for the global distribution rightsfor the Condom Safety Device ("CSD500"), which incorporates a gel in the teat ofthe condom to help healthy men maintain an erection during intercourse. The terms of the agreement with SSL remain confidential, however these areessentially similar for both CSD500 and FLD500, except that there is no royaltyadvance in return for higher milestone payments in the case of FLD500. James Barder, chief executive of Futura Medical, said: "This is a significantmilestone in the progress of the company. We are delighted that SSL hasconfirmed its interest in the distribution rights for our second condom product.Our aim is to partner with major global companies to provide a strong launchplatform for each of our products. We believe that SSL's market leadingposition with the Durex(TM) condom brand makes it the ideal partner for bothCSD500 and FLD500." Chris Bunniss, SSL's group marketing and innovations director, said: "Durex isno longer a brand associated purely with safer sex, but better sex too. We areconstantly looking at the development of innovative products in the area ofsexual enhancement. An example of this is the successful introduction ofPerforma, Pleasuremax and Tingle to our condom range, and which now account fora significant part of our business. "Durex delivers quality and the female lubrication device has the potential tobe a great product that will help to improve the sex lives of our customers." For further information:Futura Medical plcJames Barder, Chief Executive Tel: +44 (0) 1483 845 670mail to: [email protected] www.futuramedical.co.uk SSL International plcVanessa Munnings Tel: +44 (0) 1353 669939Mail to: [email protected] www.durex.co.uk Media enquiries:AbchurchPeter Curtain / Samantha Robbins Tel: +44 (0) 20 7398 7700mailto: [email protected] www.abchurch-group.com Notes to Editors: Futura Medical Futura Medical is an AIM-listed pharmaceutical drug and medical device groupdeveloping innovative products for sexual health. The Company is developing aportfolio of products with the intention of licensing their manufacture anddistribution to major pharmaceutical and healthcare groups. Several agreementshave been signed. Futura's primary focus is on Over the Counter ("OTC") products with particularappeal to men and women who are reluctant to discuss potentially embarrassingsexual matters with their doctors. The Company has three products indevelopment and is in discussions to expand the pipeline. CSD500 is a latex condom incorporating an erectogenic compound within its teat agel to help healthy men maintain an erection throughout intercourse, therebyreducing the likelihood of condom slippage. An exclusive agreement forworldwide distribution has been signed with SSL International plc, the maker ofDurex(TM). FLD500, aimed primarily at female partners of male condom users, will help womenmaintain lubrication during intercourse, thereby reducing the risk of condomfailure. SSL International plc has exclusive worldwide distribution rights. In trials, MED2002, a locally applied gel for erectile dysfunction ("ED"), hasshown dramatically improved dermal absorption rates and a dose-ranging study iscurrently being conducted prior to commencement of a Phase III study. Futurahas entered into exclusive discussions with a major global pharmaceutical groupfor the worldwide development and marketing of MED2002. A trial to assess the safety of MED2002 in angina patients has already beensuccessfully completed. Subject to regulatory approval the Company intends torecruit men suffering from ED with mild to moderate angina into the Phase IIItrial. Normal medications taken by angina patients prevent the use of availableED 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 ExchangeRelated Shares:
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