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24 September 2007

Interim Results for the six months ended 30 June 2007

Futura Medical plc (AIM: FUM), the pharmaceutical and medical device group, is pleased to announce its Interim Results for the six months ended 30 June 2007.

Highlights in the year to date

• Substantial progress across the Company as it moves close to the commercial launch of its lead product, CSD500
• CSD500 - statistically significant trial results from the user study, reinforcing the product’s commercial potential
• MED2002 - Global development and licensing agreements signed with SSL International plc for the Company’s topically applied gel for erectile dysfunction
• TPR100 - Exclusivity agreement signed with GlaxoSmithKline Consumer Healthcare to negotiate for global rights
• South East England Development Agency (“SEEDA”) grant awarded of up to £200k for product development
• Pre-tax loss of £1.2 million for the six months ended 30 June 2007 (six months ended 30 June 2006: pre-tax loss of £1.0 million – as restated)
• Cash of £2.7 million at 30 June 2007 (31 December 2006: £3.8 million)

Commenting on the results James Barder, Futura’s Chief Executive, said: “The positive trial results from the CSD500 user study have set the scene for the successful commercial launch by SSL International plc of the product as a Durex® branded condom, once EU marketing approval has been received. We were delighted to achieve another major milestone for the Company earlier this month when SSL acquired the global rights to MED2002, our topically applied gel for the treatment of erectile dysfunction.”

For full details you can download the PDF

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