Futura Medical Plc

July 06, 2005 05:21 ET

SSL International plc acquires exclusive rights to FLD500 from Futura Medical plc

GUILDFORD, ENGLAND--(CCNMatthews - July. 6, 2005) - Futura Medical plc ("Futura" or "the Company"), the AIM-listed pharmaceutical and medical device group that develops innovative products for the sexual healthcare market, today announced that SSL International plc ("SSL"), the consumer healthcare brands company and manufacturer and distributor of Durex™, the world's biggest-selling branded condom, has exercised its option for the global marketing and distribution rights for the Female Lubrication Device ("FLD500").

FLD500 will be marketed as a Durex™ condom targeted at women, who currently purchase approximately 40% of condoms sold within the UK and are therefore an important market. FLD500 incorporates a thin film on the outer surface leading to greater natural lubrication and heightened pleasure for women.

In addition, Futura has already signed an exclusive agreement with LRC Products Limited, a wholly owned subsidiary of SSL, for the global distribution rights for the Condom Safety Device ("CSD500"), which incorporates a gel in the teat of the condom to help healthy men maintain an erection during intercourse.

The terms of the agreement with SSL remain confidential, however these are essentially similar for both CSD500 and FLD500, except that there is no royalty advance in return for higher milestone payments in the case of FLD500.

James Barder, chief executive of Futura Medical, said: "This is a significant milestone in the progress of the company. We are delighted that SSL has confirmed its interest in the distribution rights for our second condom product. Our aim is to partner with major global companies to provide a strong launch platform for each of our products. We believe that SSL's market leading position with the Durex™ condom brand makes it the ideal partner for both CSD500 and FLD500."

Chris Bunniss, SSL's group marketing and innovations director, said: "Durex is no longer a brand associated purely with safer sex, but better sex too. We are constantly looking at the development of innovative products in the area of sexual enhancement. An example of this is the successful introduction of Performa, Pleasuremax and Tingle to our condom range, and which now account for a significant part of our business.

"Durex delivers quality and the female lubrication device has the potential to be a great product that will help to improve the sex lives of our customers."

Notes to Editors:

Futura Medical

Futura Medical is an AIM-listed pharmaceutical drug and medical device group developing innovative products for sexual health. The Company is developing a portfolio of products with the intention of licensing their manufacture and distribution to major pharmaceutical and healthcare groups. Several agreements have been signed.

Futura's primary focus is on Over the Counter ("OTC") products with particular appeal to men and women who are reluctant to discuss potentially embarrassing sexual matters with their doctors. The Company has three products in development and is in discussions to expand the pipeline.

CSD500 is a latex condom incorporating an erectogenic compound within its teat a gel to help healthy men maintain an erection throughout intercourse, thereby reducing the likelihood of condom slippage. An exclusive agreement for worldwide distribution has been signed with SSL International plc, the maker of Durex™.

FLD500, aimed primarily at female partners of male condom users, will help women maintain lubrication during intercourse, thereby reducing the risk of condom failure. SSL International plc has exclusive worldwide distribution rights.

In trials, MED2002, a locally applied gel for erectile dysfunction ("ED"), has shown dramatically improved dermal absorption rates and a dose-ranging study is currently being conducted prior to commencement of a Phase III study. Futura has entered into exclusive discussions with a major global pharmaceutical group for the worldwide development and marketing of MED2002.

A trial to assess the safety of MED2002 in angina patients has already been successfully completed. Subject to regulatory approval the Company intends to recruit men suffering from ED with mild to moderate angina into the Phase III trial. Normal medications taken by angina patients prevent the use of available ED treatments such as Viagra™, Cialis™ and Levitra™.

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