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LONDON (Alliance News) - Futura Medical PLC Chairman John Clarke said Wednesday the company continues to make "good progress" both in product development and commercialisation.
In his annual general meeting statement, Clarke added that the Surrey-based healthcare company expects to start phase III of its MED2002 clinical study in September.
MED2002 is the company's gel for the treatment of erectile dysfunction, about which Futura is in advanced discussions with potential commercial partners.
"Completion of a significant out-licensing agreement for MED2002 remains a top priority for the company and, whilst negotiations proceed, we will continue to maintain the momentum in the product's development," Clarke added.
Furthermore, the company's condom CSD500 received regulatory approval in Kuwait, where it will be launched "as soon as practicable", Clarke added.
Futura Medical shares were trading 4.1% lower at 33.10 pence each.