Futura Medical out-licenses MED3000 for key Latin American markets

1 September 2021

Shares of Futura Medical (AIM: FUM) moved higher yesterday, as it announced that it has entered into a licensing agreement with m8 Pharmaceuticals, a specialty biopharmaceutical company focused on commercialization in Latin America, for the rights to exclusively develop and commercialize the company's topical, gel-based erectile dysfunction (ED) treatment MED3000, in Brazil and Mexico.

Commercial Highlights:

Futura to receive payments on all sales of MED3000 from m8;
Futura is also eligible to receive up to $8.5 million in milestone payments based on deliverable sales volumes, including a small initial upfront payment
m8 is responsible for all local MED3000 development and regulatory costs in Brazil and Mexico as well as marketing expenses and ongoing pharmacovigilance and safety within the region
m8 is a specialty biopharmaceutical company, headquartered and incorporated in the USA and focused on licensing, marketing and distributing innovative and established therapeutics in the two largest Latin America markets: Brazil and Mexico.

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