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Futura Medical plc announced on 15 January 2024 an extension to its exclusive licensing agreement with Cooper Consumer Health. The agreement, originally signed in May 2022 for a five-year period, grants Cooper Consumer Health rights to commercialise Eroxon® in the European Economic Area, United Kingdom, and Switzerland, and is now extended until January 2029.
| Date | 15 Jan 2024 |
| Time | 07:00:02 |
| Category | Miscellaneous |
| ID | 5668Z |
15 January 2024
Futura Medical plc
("Futura" or the "Company")
Futura Medical extends collaboration with Cooper Consumer Health
Futura Medical plc (AIM: FUM) ("Futura" or the "Company"), the pharmaceutical company developing innovative sexual health products, today announces that it has extended until January 2029 its exclusive licensing agreement with Cooper Consumer Health ("Cooper"), a leading European independent self-care organisation, for the rights to commercialise Eroxon®, the Company's topical, gel-based Erectile Dysfunction ("ED") treatment, throughout the European Economic Area, United Kingdom and Switzerland.
The extension builds on an initial agreement signed in May 2022 for the exclusive rights to commercialise Eroxon in these territories for an initial five-year period. The terms of the agreement are otherwise unchanged with Futura remaining the Legal Manufacturer1 and responsible for the supply of Eroxon through its third-party contract manufacturers. Futura looks forward to continuing to grow its relationship with Cooper.
Eroxon has been approved as the first pan-European topical treatment for ED available without prescription. Initial launches commenced in March 2023 in the UK and Belgium, with further launches across Europe during 2024, including the key markets of Italy, Spain, France and Germany.
James Barder, Chief Executive Officer of Futura Medical said: "The award-winning launch of Eroxon was a key milestone in our partnership with Cooper and the success of our collaboration makes this extension an easy decision for both parties. We are committed to providing treatment to those suffering from ED and as such we continue the commercial roll-out of Eroxon across the world."
Bart Meermans, President of Cooper Consumer Health said: "Cooper's ambition is to become a leading European consumer healthcare platform. Eroxon is an exciting new innovation for the erectile dysfunction market and we look forward to working closely with Futura with the continuing launches of Eroxon across our markets."
1 Legal manufacturer means the organisation responsible for the design, manufacture, packaging and labelling of a device before it is placed on the market under that organisation's own name, regardless of whether these operations are carried out by that organisation or on its behalf by a third party contract manufacturer.
ENDS
For further information please contact:
Futura Medical plc
James Barder, Chief Executive Officer
Angela Hildreth, Finance Director and COO
Email: [email protected]
Tel: +44 (0) 1483 685 670
Nominated Adviser and Sole Broker:
Liberum
Phil Walker/ Richard Lindley/ Ben Cryer
Tel: +44 (0) 20 3100 2000
For media enquiries please contact:
Optimum Strategic Communications
Nick Bastin / Jonathan Edwards / Elena Bates
Email: [email protected]
Tel: +44 (0) 203 882 9621
About Futura Medical plc
Futura Medical plc (AIM: FUM), is a pharmaceutical company developing a portfolio of innovative sexual health products based on its proprietary, transdermal DermaSys® technology. Each DermaSys® formulation is separately patented and specifically tailored for the selected indication and application, as well as being optimised for clinical efficacy, safety, administration and patient convenience. The products are developed for the prescription and consumer healthcare markets as appropriate. Development and commercialisation strategies are designed to maximise product differentiation and value creation whilst minimising risk.
MED3000 is Futura's topical gel formulation that is a novel treatment for erectile dysfunction ("ED") through a unique evaporative mode of action and is sold in Europe and the UK under the brand name Eroxon®. Futura has conducted two Phase 3 studies using MED3000 in ED; the FM57 study which enabled Futura to be granted a CE Mark in 2021 and FM71 which enabled Futura to be granted US marketing authorisation. Both studies demonstrated that MED3000 presents an effective clinically proven treatment for ED with a rapid speed of onset and a favourable benefit versus risk profile ideally suited for an 'Over the Counter' classification.
Futura is based in Guildford, Surrey, and its shares trade on the AIM market of the London Stock Exchange. www.futuramedical.com
About Cooper Consumer Health Group
Cooper Consumer Health Group ("Cooper") is the largest independent selfcare organization in Europe that is active in the OTC consumer healthcare market with the development, manufacturing, selling and marketing of selfcare products (e.g. medicines, medical devices, cosmetics, biocides and food supplements) under its own or licensed brands.
The ambition of the group is to offer selfcare solutions to everyone based on a European brands portfolio. Cooper has proven its capacity to integrate new activities and aggregate talents by capitalising on the strengths and the structure of its group. www.cooperconsumerhealth.eu