Futura Medical Announces Agreement With Haleon To Commercialise MED3000 In U.S
Key highlights:
Futura to receive:
- An initial upfront payment of $4 million;
- Royalty payments on all sales of MED3000 by Haleon.
- Potential commercial and performance-driven sales milestone payments totalling between $5 million and $45 million payable over the course of several years
- Haleon is responsible for the future launch and ongoing regulatory, development, marketing, and commercialisation of MED3000 in the USA.
- Upon launch, MED3000 will represent the first OTC topical gel indicated for the treatment of ED.
Haleon Licensing Agreement
Under the terms of the agreement Haleon will commercialise MED3000 as the first and only clinically proven gel treatment for ED, available without the need for a doctor’s prescription (“OTC”) in the USA, the biggest consumer healthcare market globally.
Haleon will be responsible for all investment and activities related to the launch and marketing of the product in the USA. Futura will provide ongoing technical support for OTC product development and commercialisation opportunities.
The prevalence of ED disrupts the lives of at least 1 in 5 men globally with around 22 million men suffering ED in the USA, making the US market the largest ED market in the world. The majority of ED sufferers in the USA do not currently treat their condition. MED3000 will meet the needs of many of these ED sufferers by providing a safe, effective and fast-acting treatment that can be purchased without a prescription.
James Barder, Chief Executive of Futura Medical, said: “This agreement, with one of the world’s leading global consumer healthcare companies represents a major milestone for Futura, following on from our recent US FDA approval for MED3000 as the first OTC topical gel approved for ED. The USA is the largest ED market in the world and we believe Haleon, with its strong capabilities in brand-building and marketing through an unrivalled breadth of channels, as well as its connections and market reach makes it the ideal partner to introduce MED3000 to the millions of ED suffers in the USA who will soon be able to buy MED3000 in US pharmacies, without the need for a doctor’s prescription.”
MED3000 has previously been approved as the first pan-European clinically proven topical treatment for ED available OTC and is now available in Belgium and the UK.