Last checked at 30 Jun 2010 07:00
| For immediate release | 30 June 2010 |
Futura Medical plc
("Futura" or "the Company")
Signs Development Agreement
with GlaxoSmithKline plc for TPR100
Futura Medical plc (AIM: FUM), the pharmaceutical group that develops innovative products for consumer healthcare, announces that it has signed a development agreement with GlaxoSmithKline Consumer Healthcare (GSK) for the development of TPR100, the Company's novel, topically applied product for pain relief.
Under the terms of the agreement GSK will fully fund and be responsible for all clinical and regulatory development. GSK will also pay modest annual payments to Futura whilst development work proceeds. Subject to satisfactory clinical outcomes and regulatory approvals both parties expect to enter into a commercial distribution agreement in due course.
James Barder, Futura's Chief Executive, said: "This agreement marks another important step in the development of Futura. It broadens the Company's commercial relationships and sources of potential royalty income. In addition, it provides further endorsement of our DermaSys® drug delivery technology and of our strengths in product development."
For any further information please contact:
| Futura Medical plc |
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| James Barder, Chief Executive | Tel: +44 (0) 1483 685 670 |
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| mail to: james.barder@futuramedical.com | www.futuramedical.com |
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| Nomura Code Securities Limited |
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| Phil Walker / Giles Balleny | Tel:+44 (0)20 7776 1200 |
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| For media enquiries please contact: |
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| Buchanan Communications |
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| Mark Court / Stasa Filiplic / George Prassas | 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.com