RE: $2.5mln due1 May 2026 06:28
In relation to Eroxon®, we have now been granted patents in both the USA and China until 2040. This provides incremental patent coverage to patents granted in Europe, Hong Kong and Taiwan. Other patents remain pending.
The new US continuation patent granted on 17 March 2026 contains claims whereby we are confident that this has triggered a US patent milestone receipt of US$2.5 million under the terms of the Group's existing license agreement with Haleon. we are engaged with Haleon regarding the interpretation and timing of this milestone under the terms of the agreement. This grant was a key Group objective and given that the United States is the largest global market for erectile dysfunction, it will provide an enhanced competitive position for both current and potential new formulations of Eroxon®. Additionally, the receipt of the milestone payment will extend the cash runway to December 2026, in line with previous expectations, supporting current development opportunities.