Futura Medical plc is a pharmaceutical group that develops innovative products for the consumer healthcare market.
Our business strategy is centered on selecting and developing products with regard to five key criteria:
- Return on Investment: we focus on consumer healthcare products that offer the potential for a significant return on the costs of development.
- Product Profile: we focus on topically applied medicines, either stand-alone or in combination with a medical device. We only incorporate existing chemical entities into our products which gives our development activities a lower risk profile.
- Over The Counter ("OTC"): our aim is to produce safe and effective OTC products made available to consumers on a general retail basis or through chemists without the need for a doctor's prescription.
- Strong Intellectual Property: the products are underpinned by our developing and retaining valuable intellectual property including know-how, patents and trademarks to protect their commercial position.
- Licensing: we aim to out-license our products during their development to established pharmaceutical and healthcare groups which offer the best potential commercial opportunities.
The Group's activities have been funded by a combination of share issues, research and development tax credits, interest and government grants. As at 11 March 2011, share issues totalled £19.94 million net of costs. As at 31 December 2010, other funding sources have contributed a further £2.75 million.
Business operations
Futura Medical plc is the holding company whose shares trade on the AIM market of the London Stock Exchange.
Futura Medical plc owns 100% of the shares of Futura Medical Developments Limited. Futura Medical Developments Limited is the trading company which undertakes all development work and holds the intellectual property rights and distribution agreements.
The company is based at The Surrey Research Park in Guildford, Surrey, UK. We employ a small, focused and dedicated team plus two non-executive directors. To complement our team, we use a network of consultants and advisers who are experts in their fields. This helps control our fixed costs whilst maximising our knowledge base. Similarly, we outsource product manufacture and clinical trial activities.
We develop and retain our intellectual property including manufacturing rights, patents and trademarks.
Our products, once approved by the relevant regulatory authorities, will be brought to market through licensing agreements with partners that already have significant distribution networks. In return we will receive royalty payments based on the sales of our products via these distribution partners.