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On 7 October 2024, Futura Medical plc announced that a $5.0 million milestone payment has been triggered. This payment is due from Haleon following the distribution of Eroxon® online pre-orders and its availability in US retailers, and is expected to be received by the Company shortly.
| Date | 7 Oct 2024 |
| Time | 07:00:03 |
| Category | Corporate updates |
| ID | 0567H |
7 October 2024
Futura Medical plc
("Futura", "the Group" or the "Company")
Further milestone payment triggered post US launch
Futura Medical plc (AIM: FUM), the consumer healthcare company behind Eroxon®, that specialises in the development and global commercialisation of innovative and clinically proven sexual health products, announces that following Haleon's distribution of online pre-orders and the availability of Eroxon® in retailers in the US, the next milestone payment due under the agreement with Haleon of $5.0m has been triggered and is expected to be received by the Company shortly.
Contacts:
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Futura Medical plc
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James Barder Chief Executive Officer Angela Hildreth Finance Director and COO
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+44 (0)1483 685 670
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Panmure Liberum Nominated Adviser and Broker
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Emma Earl, Will Goode, Mark Rogers (Corporate Finance) Rupert Dearden (Corporate Broking) |
+44 (0)20 3100 2000
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Stifel Nicolaus Europe Limited Joint Broker
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Alan Selby Ben Maddison
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+44 (0)207 710 7600
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Alma Strategic Communications |
Rebecca Sanders-Hewett Sam Modlin Will Ellis Hancock |
+44 (0)20 3405 0205 |
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Notes to Editors:
Futura Medical plc (AIM: FUM) is the developer of innovative sexual health products, including lead product Eroxon. Our core strength lies in our research, development and commercialisation of topically delivered gel formulations in sexual health products.
Eroxon, Futura's clinically proven lead product, has been developed for the treatment of Erectile Dysfunction ("ED"). The highly differentiated product, which is the only topical gel treatment for ED available over the counter and helps men get an erection in ten minutes, addresses significant unmet needs in the ED market.
ED impacts 1 in 5 men globally across all adult age brackets, with approximately half of all men over 40 experiencing ED and 25% of all new diagnoses being in men under 40.
Futura has distribution partners in place in a number of major consumer markets including Haleon in the US, the largest market for ED in the world, and Cooper Consumer Health in Europe. Eroxon has been nominated for a number of healthcare industry awards and has won two to-date.