Futura Medical PLC Futura Announces Joint Venture Collaboration (7339L)
10 Septiembre 2019 - 1:01AM
UK Regulatory
TIDMFUM
RNS Number : 7339L
Futura Medical PLC
10 September 2019
Futura Signs Joint Venture Collaboration To Explore Transdermal
Delivery of Cannabidiol DermaSys(R)
10 September 2019
Futura Medical plc (AIM: FUM) (the "Company"), a pharmaceutical
company developing a portfolio of innovative products based on its
proprietary, transdermal DermaSys(R) drug delivery technology and
currently focused on sexual health and pain, is pleased to announce
a joint venture collaboration with CBDerma Technology Limited to
explore the application of Futura's advanced proprietary
transdermal drug delivery technology, DermaSys(R) for delivery of
Cannabidiol. All Intellectual Property will be owned jointly by the
Company and CBDerma Technology Limited.
CBDerma Technology is a company that has been established and
funded to specifically exploit the therapeutic potential of
Cannabis. The company's management, backers and advisors have
extensive knowledge, expertise and investments in plant derived
product manufacturing. Cannabidiol is a major component of the
cannabis plant and is generally regarded as non-addictive and
non-psychoactive, making it ideal for consideration as a topically
delivered molecule for local or regional (non-systemic) use.
Initial development costs are expected to be in the region of
US$ 1 million and will cover all development costs incurred by the
Company during the next 15 months in order to develop and optimise
a DermaSys(R)- cannabidiol formulation as well as establishing
early ex-vivo proof of concept studies likely to include certain
disease states most suited for local or regional (non-systemic)
topical treatment such as pain relief. The Company does not expect
this project's initial development to have any material impact on
cashflow as Futura's financial share of the project will be
delivered from its expertise and existing internal resources.
DermaSys(R) provides rapid and targeted local delivery of active
pharmaceutical ingredients at therapeutic levels through the skin
to the required site of action with a high level of safety. It is a
versatile and bespoke technology that can be tailored to suit the
specific active compound being used and the therapeutic indication.
Each product is formulated to maximise its benefits for patients
and consumers and can be developed for the prescription and
consumer healthcare markets as appropriate.
James Barder, CEO of Futura Medical said: "Futura's core
strength lies in our research and development capabilities,
particularly in the application of our proprietary Dermasys(R)
transdermal delivery system which enables targeted and controlled
delivery of drugs through the skin. The benefits and applications
of cannabis and cannabidiol in both the medical and consumer
markets are well known and expanding rapidly. However, optimised
and targeted topical delivery of the active ingredients remains a
problem. We believe that our Dermasys(R) technology has the
potential to solve these issues, advancing product development and
expanding indications and use of Cannabidiol."
ENDS
For further information please contact:
Futura Medical plc
James Barder, Chief Executive
Angela Hildreth, Finance Director and COO
Email: Investor.relations@futuramedical.com
Tel: +44 (0) 1483 685 670
Nominated Adviser and Sole Broker:
Liberum
Bidhi Bhoma/ Euan Brown/ Kane Collings
Tel: +44 (0) 20 3100 2000
For media enquiries please contact:
Optimum Strategic Communications
Mary Clark/ Eva Haas/ Hollie Vile
Email: futuramedical@optimumcomms.com
Tel: +44 (0) 203 950 9144
Notes to editors:
About Futura Medical plc
Futura Medical plc (AIM: FUM), is a pharmaceutical company
developing a portfolio of innovative products based on its
proprietary, transdermal Dermasys(R) drug delivery technology.
These products are optimised for clinical efficacy, safety,
administration and patient convenience and are developed for the
prescription and consumer healthcare markets as appropriate.
Current therapeutic areas are sexual health, including erectile
dysfunction, and pain relief. Development and commercialisation
strategies are designed to maximise product differentiation and
value creation whilst minimising risk.
The first European Phase 3 study for MED2005, referred to as
"FM57", is a 1,000 patient, dose-ranging, multi-centre, randomised,
double blind, placebo-controlled, home use, parallel group study of
MED2005 0.2%, 0.4% and 0.6% Glyceryl Trinitrate for the treatment
of erectile dysfunction with an open label extension. FM57 is
progressing on track, with headline data expected by the end of
2019.
Futura is based in Guildford, Surrey, and its shares trade on
the AIM market of the London Stock Exchange.
www.futuramedical.com
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END
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