Last checked at 20 Jul 2009 07:00
| For immediate release | 20 July 2009 |
Futura Medical plc
("Futura" or "the Company")
Evaluation agreement for the development and commercialisation of TPR100
Futura Medical plc (AIM: FUM), the pharmaceutical group that develops innovative products for consumer healthcare, is pleased to announce that it has signed an evaluation agreement with a major pharmaceutical company in connection with the development and commercialisation of TPR100, a novel, topically applied product for pain relief.
Futura will receive an upfront £50,000 payment from the major pharmaceutical company, which intends to carry out further in vitro studies on TPR100 during the evaluation period.
The evaluation period, which will commence immediately and continue until later this year, may, or may not, result in a commercialisation agreement for rights to TPR100 in certain territories.
The active ingredient in TPR100 is a well characterised non-steroidal anti-inflammatory drug ("NSAID") and it is delivered through the skin by Futura's DermaSys® technology, a highly efficient trans-dermal delivery system that facilitates rapid absorption.
Clinical tests have shown that TPR100, which is designed to be an over-the-counter product, achieves skin permeation rates between 30 to 40 times higher than that achieved by the current market-leading product. TPR100's rapid absorption brings potential benefits including a more rapid onset of action of pain relief.
James Barder, Futura's Chief Executive, said: "This evaluation agreement with a major pharmaceutical company reflects the solid progress we have made to date on the development of TPR100, our fast-acting, topically applied pain relief product. The evaluation agreement follows a period of detailed due diligence by the major pharmaceutical company and we are hopeful that ultimately it will result in the commercialisation of the product whilst the modest payment will meet key patent filing costs associated with TPR100 due shortly."
For any further information please contact:
| Futura Medical plc | |
| James Barder, Chief Executive | Tel: +44 (0) 1483 685 670 |
| mail to: james.barder@futuramedical.co.uk | www.futuramedical.co.uk |
| Canaccord Adams |
|
| Ryan Gaffney / Adria Da Breo-Richards | Tel: +44 (0) 20 7050 6500 |
| For media enquiries please contact: | |
| Buchanan Communications | |
| Mark Court / Rebecca Skye Dietrich / Stasa Filiplic | Tel: +44 (0) 20 7466 5000 |
Notes to Editors
Futura Medical plc
Futura Medical is a pharmaceutical group that develops innovative products for consumer healthcare. The Company is developing a portfolio of products and its strategy is to license their manufacture and distribution to major pharmaceutical and healthcare groups.
Futura is based in Guildford, Surrey, and its shares trade on the AIM market of the London Stock Exchange.
www.futuramedical.co.uk