Futura has been working with retained specialised corporate advisers on active commercial discussions with potential licensing and marketing partners in line with an agreed process being managed by the advisers.
In March 2021 Futura signed its first commercial deal with the announcement of an investment and joint collaboration with Co-High Investment Management and certain subsidiaries of Atlantis Group to commercialise MED3000 in China and South East Asia.
Futura is making steady progress on commercial discussions for MED3000 marketing rights in multiple other regions. Currently a number of interested parties have made submissions at the non-binding offer stage with further offers expected, although there can be no guarantee of deal completion at this stage. Futura is committed to prioritising commercial deals that will deliver long-term and sustainable value to the Company allowing a long-lasting growth franchise to be built around the pipeline of Dermasys® formulated products and in particular MED3000.
As part of building the commercial proposition for MED3000 and supporting its regulatory approval in countries such as the US, Futura has developed an illustrative pack that licensing partners can select to use at their discretion.
Co-High licensing agreement – China and South East Asia
In March 2021 Futura entered into an agreement with Co-High. Under the terms of the agreement, Futura and Co-High will work together to develop and commercialise MED3000 as a clinically proven OTC treatment for ED throughout South East Asia. Co-High will provide funding currently estimated to be up to £4 million for the expected remaining R&D work required to gain approval of MED3000 throughout the region. Futura will be entitled to 50% of profits from the commercialisation of MED3000 including any profits derived from local partner agreements within the Region.