Futura Medical (FUM)

Sector:

Pharma and Biotech

Index:

FTSE AIM All-Share

32.80p
   
  • Change Today:
    -0.70p
  • 52 Week High: 67.60
  • 52 Week Low: 13.00
  • Currency: UK Pounds
  • Shares Issued: 287.15m
  • Volume: 30,740
  • Market Cap: £94.19m
  • RiskGrade: 479

Futura Medical inks licensing deal with Labtec Pharma

By Josh White

Date: Monday 27 Sep 2021

LONDON (ShareCast) - (Sharecast News) - Transdermal drug delivery technology company Futura Medical has entered into a licensing agreement with Labatec Pharma, a Switzerland-based specialty pharma company focussed on commercialisation in the Europe and Middle East and North Africa (MENA) regions, it announced on Monday.
The AIM-traded firm said the deal was for the rights to exclusively commercialise its topical, gel-based erectile dysfunction (ED) treatment MED3000 in the Gulf Cooperation Council (GCC) region as well as Jordan, Lebanon and Iraq.

It said it would be eligible for initial upfront payments, as well as undisclosed milestone payments based on regulatory approval.

Labatec would pay an agreed price to Futura for the manufacture and supply of MED3000 by Futura's contract manufacturing organisation, plus royalties on all sales.

Futura said Labatec would be responsible for all local MED3000 development and regulatory costs in the GCC and Levant markets, as well as all launch and marketing expenses.

The initial licence agreement term would be eight years, with the ability to extend for successive two-year terms by mutual consent.

"This is our third commercial agreement for MED3000, and we are excited to be working with Labatec to expand the product's market reach into Middle East countries as we continue MED3000's regulatory and commercial rollout worldwide," said Futura chief executive officer James Barder.

"Labatec is a trusted medicines supplier in the region that is ideally placed to market both prescription and retail products, and its local teams have a deep understanding of regional markets and experience in rapidly registering and launching new products."

Faisal Darwazeh, CEO of Labatec, added that the company was "delighted" to license Futura's MED3000 for the GCC and other Middle East countries.

"We feel that there is significant market potential in the region for MED3000 as a trusted, branded medicine for enhancing erectile performance, optimally through pharmacy sales and are confident of generating significant value and long term sustainable growth for both Futura and Labatec with this innovative, clinically proven product," Darwazeh said.

At 1626 BST, shares in Futura Medical were down 1.62% at 39.45p.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Futura Medical Market Data

Currency UK Pounds
Share Price 32.80p
Change Today -0.70p
% Change -2.09 %
52 Week High 67.60
52 Week Low 13.00
Volume 30,740
Shares Issued 287.15m
Market Cap £94.19m
RiskGrade 479

Futura Medical Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
52.76% below the market average52.76% below the market average52.76% below the market average52.76% below the market average52.76% below the market average
55.1% below the sector average55.1% below the sector average55.1% below the sector average55.1% below the sector average55.1% below the sector average
Price Trend
17.84% above the market average17.84% above the market average17.84% above the market average17.84% above the market average17.84% above the market average
6.67% above the sector average6.67% above the sector average6.67% above the sector average6.67% above the sector average6.67% above the sector average
Income Not Available
Growth Not Available

What The Brokers Say

Strong Buy 1
Buy 0
Neutral 0
Sell 0
Strong Sell 0
Total 1
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Futura Medical Dividends

No dividends found

Trades for 03-Dec-2021

Time Volume / Share Price
10:12 1,807 @ 33.20p
10:06 3,500 @ 32.41p
08:52 5,433 @ 32.80p
08:51 10,000 @ 32.71p
08:15 5,000 @ 32.81p

Futura Medical Key Personnel

CEO James Henry Barder
Finance Director Angela Hildreth

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