Futura Medical Regulatory News (FUM)

27 Jul 2007 07:00

Futura Medical PLC27 July 2007 For immediate release 27 July 2007 Futura Medical Plc ("Futura" or "the Company") Receives £200,000 SEEDA grant for DermaSys(R) product Futura Medical plc (AIM: FUM), the pharmaceutical group that develops innovativeproducts for the consumer healthcare market, is pleased to announce that it hasbeen awarded a Grant for Research & Development of £200,000 from the South EastEngland Development Agency (SEEDA) to support the development of a pipelineproduct that uses the Company's novel DermaSys(R) trans-dermal deliverytechnology. SEEDA, the Regional Development Agency responsible for the sustainable economicdevelopment of the South East of England, awarded the grant after a thoroughreview of the application to develop a specific product in relation to theDermaSys(R) technology. The Grant for the R&D scheme is a Department ofInnovation, Universities and Skills (DIUS) national programme, where grants areawarded following assessment of the potential to achieve a technological advancein a new product or process. Jeff Alexander, SEEDA Executive Director for Global Competitiveness, said: "Iwish Futura Medical every success with the development of this product using theDermaSys(R) technology. SEEDA's Grant for Research & Development scheme isdesigned to assist this kind of innovative product development." James Barder, Futura Medical's Chief Executive, said: "We are delighted to havebeen awarded this grant from SEEDA, which represents a further endorsement todevelop both the technical and commercial qualities of our DermaSys(R) drugdelivery technology." DermaSys(R) is the brand name for Futura's versatile gel technology for therapid delivery of drugs through the skin, which the Company is continuing toassess against a wide range of generic drugs suited to topical delivery. 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 Tel: +44 (0) 20 7050 6500 Mark Ashurst For any media enquiries please contact: Buchanan Communications Tel: +44 (0) 020 7466 5000 Mark Court / Rebecca Dietrich Notes Futura Medical plc Futura 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 About SEEDA The South East England Development Agency (SEEDA) is the Government fundedAgency responsible for the sustainable economic development of the South East ofEngland - the driving force of the UK's economy. Our aim is to create aprosperous, dynamic and inspirational region by helping businesses compete moreeffectively, training a highly skilled workforce, supporting and enabling ourcommunities while safeguarding our natural resources and cherishing our richcultural heritage. The Regional Economic Strategy (RES) for South East England 2006 -2016: a worldclass region achieving sustainable prosperity, has three headline targets: Global Competitiveness: Achieving an average annual increase in GVA (Gross ValueAdded) per capita of at least 3%. Smart Growth: Increasing productivity per worker by an average 2.4% annually,from £39,000 in 2005 to at least £50,000 by 2016 (in constant prices). Sustainable Prosperity: Reducing the rate of increase in the region's ecologicalfootprint (from 6.3 global hectares per capita in 2003, currently increasing at1.1% per capita per annum), stabilizing it and seek to reduce it by 2016. For further press information please contact: Francesca Fogell, SEEDA Marketing& PR Manager, tel, 01483 484275, email, francescafogell@seeda.co.uk www.seeda.co.uk This information is provided by RNS The company news service from the London Stock Exchange