Futura Medical Regulatory News (FUM)

7 May 2008 07:00

Futura Medical PLC07 May 2008 For immediate release 7 May 2008 Futura Medical Plc ("Futura" or "the Company") AGM Statement Futura Medical plc (AIM: FUM), the pharmaceutical group that develops innovativeproducts for consumer healthcare, will hold its Annual General Meeting in Londonlater today. At the meeting, Dr William Potter, the Company's Chairman, will make thefollowing statement: "We have been pleased with progress across our product development portfolio inthe year to date. In respect of CSD500, the results of the clinical trialcompleted last summer have been accepted by the Competent Authority assupporting the proposed product claims and therefore no further clinical trialsare anticipated. Discussions continue to resolve the outstanding issues andenable the Notified Body to issue the CE Mark for the product. "CSD500, FLD500 and MED2002 are a related suite of products bearing the sameactive compound as well as the same commercial partner. The market positioningof these products is interdependent. We have agreed with our commercial partnerto focus on the launch of CSD500 first whilst continuing to develop the clinicaland commercial strategy for FLD500 and MED2002. In the meantime, design,formulation and packaging work continues for these products. "We are particularly encouraged by recent preliminary results from a clinicalstudy of TPR100, our topically applied pain relief product. In a comparativestudy with the international market-leading OTC product, TPR100, which uses ourDermaSys(R) delivery platform, showed a substantial increase in the level ofactive compound, an analgesic, transported through the skin compared with themarket-leading product. More information will be released once a full analysisof the data has been completed. Discussions are on-going in connection with thecommercial rights to this product. "In addition I would like to announce that, after six-and-a-half years with thecompany, Anthony Clayden will be stepping down as Finance Director from the endof May. I would like to thank Anthony for his very valuable contribution toFutura and to wish him well for his new role as Chief Financial Officer at aprivately owned healthcare business. "Derek Martin, Futura's Financial Controller appointed in April 2007, willcontinue to oversee the finance function and will now assume the role of CompanySecretary. "We are confident that Futura will continue to make significant progress duringthe remainder of 2008 and beyond. We are a company on the threshold of revenuesfrom CSD500 and from other product opportunities based on our core DermaSys(R)technology, the quality of which is underlined by the study results from ourTPR100 programme." For further information: Futura Medical plcJames Barder, Chief Executive Tel: +44 (0)1483 685 670mail to: james.barder@futuramedical.co.uk www.futuramedical.co.uk --------------------------Canaccord AdamsRyan Gaffney / Adria Da Breo Tel: +44 (0)20 7050 6500 Media enquiries:Buchanan CommunicationsMark Court / Rebecca Skye Dietrich Tel: +44 (0)20 7466 5000 Notes to EditorsFutura Medical plcFutura Medical is a pharmaceutical group that develops innovative products forconsumer healthcare. The Company is developing a portfolio of products and itsstrategy is to license their manufacture and distribution to majorpharmaceutical and healthcare groups. Futura is based in Guildford, Surrey, and its shares trade on the AIM market ofthe London Stock Exchange.www.futuramedical.co.uk This information is provided by RNS The company news service from the London Stock Exchange