6 July 2005
SSL International plc acquires exclusive rights to FLD500 from Futura Medical plc
Futura Medical plc ("Futura" or "the Company"), the AIM-listed pharmaceutical and medical device group that develops innovative products for the sexual healthcare market, today announced that SSL International plc ("SSL"), the consumer healthcare brands company and manufacturer and distributor of Durex®, the world's biggest-selling branded condom, has exercised its option for the global marketing and distribution rights for the Female Lubrication Device ("FLD500").
FLD500 will be marketed as a Durex® condom targeted at women, who currently purchase approximately 40% of condoms sold within the UK and are therefore an important market. FLD500 incorporates a thin film on the outer surface leading to greater natural lubrication and heightened pleasure for women.
In addition, Futura has already signed an exclusive agreement with LRC Products Limited, a wholly owned subsidiary of SSL, for the global distribution rights for the Condom Safety Device ("CSD500"), which incorporates a gel in the teat of the condom to help healthy men maintain an erection during intercourse.
The terms of the agreement with SSL remain confidential, however these are essentially similar for both CSD500 and FLD500, except that there is no royalty advance in return for higher milestone payments in the case of FLD500.
James Barder, chief executive of Futura Medical, said: "This is a significant milestone in the progress of the company. We are delighted that SSL has confirmed its interest in the distribution rights for our second condom product. Our aim is to partner with major global companies to provide a strong launch platform for each of our products. We believe that SSL's market leading position with the Durex® condom brand makes it the ideal partner for both CSD500 and FLD500."
Chris Bunniss, SSL's group marketing and innovations director, said: "Durex® is no longer a brand associated purely with safer sex, but better sex too. We are constantly looking at the development of innovative products in the area of sexual enhancement. An example of this is the successful introduction of Performa, Pleasuremax and Tingle to our condom range, and which now account for a significant part of our business.
"Durex® delivers quality and the female lubrication device has the potential to be a great product that will help to improve the sex lives of our customers."