5 December 2003
Futura Medical wins DTI Research and Development Grant
Futura Medical plc ("Futura"), the AIM-listed pharmaceutical and medical device group that develops innovative products for the sexual healthcare market, is pleased to announce that its subsidiary Futura Medical Developments Limited, has been awarded a Research Project Grant under the new Grant for Research and Development Scheme of the Department of Trade & Industry.
The grant will provide up to £75,000 for the initial stages of research and development of Futura’s FLD500 product.
Futura’s grant submission was assessed on its level of innovation, technical risk, the management team and the overall business proposition.
The award is the Department of Trade and Industry’s initiative, which recently replaced the Smart scheme, providing grants to help individuals and small and medium-sized businesses to research and develop technologically innovative products and processes.