Futura Medical PLC - Guildford, England-based pharmaceutical company - Enters into a licensing agreement with Labatec Pharma, a Swiss-based pharma company. The contract is for the rights to exclusively commercialise Futura's topical, gel-based erectile dysfunction treatment MED3000, in the Gulf Co-operation Council region as well as Jordan, Lebanon and Iraq. Futura says it is eligible to receive initial upfront payments, as well as undisclosed milestone payments based on regulatory approval. Initial licence agreement term is eight years, with the ability to extend for successive two-year terms by mutual consent.
Current stock price: 40.00 pence
Year-to-date change: more than doubled from 15.25p on December 31
By Evelina Grecenko; evelinagrecenko@alliancenews.com
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Futura Medical (FUM)