TPR100 Agreement with GSK

RNS Number : 4910O

Futura Medical PLC

30 June 2010

 

 

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
James Barder, Chief Executive	Tel: +44 (0) 1483 685 670
mail to: james.barder@futuramedical.com	www.futuramedical.com
Nomura Code Securities Limited
Phil Walker / Giles Balleny	Tel:+44 (0)20 7776 1200
For media enquiries please contact:
Buchanan Communications
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

 

 

 

This information is provided by RNS

The company news service from the London Stock Exchange