30 June 2010
TPR100 Agreement with GSK
Futura Medical plc Signs Development Agreement with GlaxoSmithKline plc for TPR100
Futura Medical plc (AIM: FUM), the pharmaceutical group that develops innovative products for consumer healthcare, announces that it has signed a development agreement with GlaxoSmithKline Consumer Healthcare (GSK) for the development of TPR100, the Company's novel, topically applied product for pain relief.
Under the terms of the agreement GSK will fully fund and be responsible for all clinical and regulatory development. GSK will also pay modest annual payments to Futura whilst development work proceeds. Subject to satisfactory clinical outcomes and regulatory approvals both parties expect to enter into a commercial distribution agreement in due course.
James Barder, Futura's Chief Executive, said: "This agreement marks another important step in the development of Futura. It broadens the Company's commercial relationships and sources of potential royalty income. In addition, it provides further endorsement of our DermaSys® drug delivery technology and of our strengths in product development."
For further information please contact:
Futura Medical plc
James Barder, Chief Executive
Tel: +44 (0) 1483 685 670
james.barder@futuramedical.com
www.futuramedical.com
Nominated Adviser:
Nomura Code Securities Limited
Phil Walker / Giles Balleny
Tel: +44 (0) 20 7776 1200
For media enquiries please contact:
Buchanan Communications Limited
Mark Court / Stasa Filiplic / George Prassas
Tel: +44 (0) 20 7466 5000