Futura Medical PLC Signs UK Licensing Agreement in Pain Relief (7312T)
10 January 2017 - 6:00PM
UK Regulatory
TIDMFUM
RNS Number : 7312T
Futura Medical PLC
10 January 2017
For immediate release 10 January 2017
Futura Medical plc
("Futura" or the "Company")
Signs UK Licensing Agreement in Pain Relief
Futura Medical plc (AIM: FUM), the innovative healthcare company
focused on transdermal technology, is pleased to announce that it
has signed a licensing agreement with the UK subsidiary of STADA
Arzneimittel AG ("STADA"), the international healthcare group, for
the commercialisation of TPR100, the Company's novel diclofenac gel
for pain relief.
The licensing agreement was signed with Huddersfield-based
Thornton & Ross Ltd, which was acquired by STADA three years
ago and is one of the largest consumer health companies in the
UK.
Under the terms of the agreement, Thornton & Ross will
conduct the manufacturing scale-up of TPR100 and hold rights to
manufacture, market and distribute the product in the UK for the
lifetime of the product's patents, which run to at least 2028 in
the UK. Futura will receive an upfront payment and milestone
payments up to a certain limit along with royalties on product
sales. Further financial or other details are not being
disclosed.
TPR100, which benefits from the rapid skin permeation rates
offered by Futura's proprietary DermaSys(R) delivery system,
demonstrated statistically significant results in a 2015 clinical
study comparing the product against both placebo and currently
marketed products.
It is expected that no further clinical work will be required
ahead of a regulatory submission by Thornton & Ross for UK
marketing authorisation expected to be made in the second half of
2017.
Dieno George, Executive Vice President of Brands at STADA, said:
"Thornton & Ross is an ideal partner for Futura, with its
expertise in both OTC and Rx marketing and we are very excited to
bring TPR100 into our product portfolio. TPR100's topical
formulation, and positive trial results achieved to date, mean that
it has the potential to be a product that very successfully meets
patient needs."
James Barder, Futura's Chief Executive, commented: "We're
delighted to sign this licensing agreement with Thornton & Ross
for the UK rights to our topical diclofenac gel, TPR100. This
agreement is an important milestone for Futura as it marks the
first commercial validation of the Company's pain relief portfolio.
We look forward to working with Thornton & Ross on the initial
manufacturing scale-up of TPR100, followed by its registration and
subsequent commercial launch."
For further information:
Futura Medical plc + 44 (0) 1483 685 670
James Barder, Chief Executive
Mail to: James.Barder@futuramedical.com www.futuramedical.com
N+1 Singer +44 (0) 20 7496 3000
Aubrey Powell / Liz Yong
Brough Ransom - Sales
Buchanan + 44 (0) 20 7466 5000
Mark Court / Sophie Cowles
/ Stephanie Watson
Notes to editors:
About 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 (AIM: FUM).
www.futuramedical.com
About Stada Arzneimittel AG
STADA Arzneimittel AG is a publicly-listed company with
headquarters in Bad Vilbel, Germany. STADA focuses on a
multi-pillar strategy of generics and branded products (OTC) with
an increasingly international market orientation. The Group is the
only independent generics producer in Germany. STADA is represented
in more than 30 countries with approximately 50 sales companies
worldwide.
In financial year 2015, STADA achieved Group sales of Euro
2,115.1 million, adjusted earnings before interest, taxes,
depreciation and amortization (EBITDA) of Euro 389.4 million and
adjusted net income of Euro 165.8 million. As of December 31, 2015,
STADA employed 10,532 people worldwide.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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