Supporting the investment and a 50:50 joint collaboration to commercialize MED3000 in Greater China & South-East Asia
Futura Medical plc (AIM:FUM), an English pharmaceutical company developing a portfolio of innovative products based on its proprietary, transdermal DermaSys® drug delivery technology and currently focused on sexual health and pain, announced that it has entered into a financing transaction with Atlantis Investment Management Limited, a leading global asset manager.
In addition, Futura has entered into a licensing agreement with Pride Century Ventures, a special purpose vehicle owned by Co-High Investment Management Limited, for the rights to exclusively develop and commercialise the Company's topical, gel-based non-prescription Erectile Dysfunction treatment MED3000, in China and South East Asia.
Co-High will provide funding for the development, regulatory approval and marketing of MED3000 in the region and Futura will be entitled to 50% of regional profits from the commercialisation of MED3000 in the 50:50 Joint Collaboration.
The global Erectile Dysfunction prescription market is estimated to be approximately US$5 billion1 amongst the leading 15 markets, with the USA ranked first and China ranked third in value terms. MED3000 is expected to be approved for the EU market later this year, and a small confirmatory study is pending for US approval.
How Agio Capital & Business Solutions helped
Agio introduced Futura Medical to potential Chinese strategic partners and investors and supported the financial transaction from Atlantis Investment Management as well as the negotiations with Co-High Investment Management.
For more information read the full press release.