Last checked at 6 Dec 2013 07:00
For immediate release | 6 December 2013 |
Futura Medical PLC
("Futura" or the "Company")
Futura licenses CSD500 to Ansell in China
Futura Medical plc (AIM: FUM), the innovative healthcare company focused on advanced transdermal technology, announces that it has signed an exclusive licensing agreement with Ansell Limited, a global leader in protection solutions, for the marketing and distribution of CSD500, Futura's novel condom, in China.
Ansell is a leading condom distributor in China including the country's second largest condom brand, Jissbon. The financial details of the agreement with Ansell are not being disclosed although Futura will receive milestone payments and royalties on product sales along with certain minimum performance guarantees.
Ansell and Futura will work together to achieve regulatory approval in China for CSD500. Futura is currently in dialogue with the relevant Chinese regulatory authorities to identify any further clinical work required prior to the submission of a regulatory dossier for marketing authorisation.
This agreement with Ansell is in line with Futura's strategy of licensing CSD500 to condom distributors that hold leading positions in specific geographic regions.
The agreement builds on Futura's existing relationship with Ansell, which already holds worldwide marketing rights to Futura's novel spray for enhanced sexual control, PET500.
Peter Carroll, Ansell's President and General Manager - Sexual Wellness Global Business Unit, said: "We are very pleased to be strengthening our relationship with Futura by licensing rights to CSD500 in China, a region in which we have a major presence. CSD500 is a highly novel condom which we believe could have significant market potential in China."
James Barder, Futura's Chief Executive, commented: "We are delighted to sign this exclusive agreement with Ansell for the marketing and distribution of CSD500 in China, where Ansell has a strong market position through its Jissbon brand. China is potentially the world's biggest market for condoms and we therefore look forward to working with Ansell to progress the product to launch."
For further information:
Futura Medical plc | + 44 (0) 1483 685 670 |
James Barder, Chief Executive | |
Mail to: James.Barder@futuramedical.com | www.futuramedical.com |
Cenkos Securities | + 44 (0) 20 7397 8927 |
Bobbie Hilliam | |
| |
Buchanan | + 44 (0) 20 7466 5000 |
Mark Court / Fiona Henson / Sophie Cowles |
Notes to editors:
About 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.com
About Ansell
Ansell is a world leader in providing superior health and safety protection solutions that enhance human well-being.
With operations in North America, Latin America/Caribbean, EMEA and Asia, Ansell employs more than 13,000 people worldwide and holds leading positions in the personal protective equipment and medical gloves market, as well as in the sexual health and well-being category worldwide. Ansell operates in four main business segments: Medical Solutions, Industrial Solutions, Specialty Markets and Sexual Wellness.
Information on Ansell and its products can be found at www.ansell.com.