07 May 2008
AGM Statement
Futura Medical plc (AIM: FUM), the pharmaceutical group that develops innovative products for consumer healthcare, will hold its Annual General Meeting in London later today.
At the meeting, Dr William Potter, the Company’s Chairman, will make the following statement:
"We have been pleased with progress across our product development portfolio in the year to date. In respect of CSD500, the results of the clinical trial completed last summer have been accepted by the Competent Authority as supporting the proposed product claims and therefore no further clinical trials are anticipated. Discussions continue to resolve the outstanding issues and enable the Notified Body to issue the CE Mark for the product.
“CSD500, FLD500 and MED2002 are a related suite of products bearing the same active compound as well as the same commercial partner. The market positioning of these products is interdependent. We have agreed with our commercial partner to focus on the launch of CSD500 first whilst continuing to develop the clinical and commercial strategy for FLD500 and MED2002. In the meantime, design, formulation and packaging work continues for these products.
“We are particularly encouraged by recent preliminary results from a clinical study of TPR100, our topically applied pain relief product. In a comparative study with the international market-leading OTC product, TPR100, which uses our DermaSys® delivery platform, showed a substantial increase in the level of active compound, an analgesic, transported through the skin compared with the market-leading product. More information will be released once a full analysis of the data has been completed. Discussions are on-going in connection with the commercial rights to this product.
“In addition I would like to announce that, after six-and-a-half years with the company, Anthony Clayden will be stepping down as Finance Director from the end of May. I would like to thank Anthony for his very valuable contribution to Futura and to wish him well for his new role as Chief Financial Officer at a privately owned healthcare business.
“Derek Martin, Futura’s Financial Controller appointed in April 2007, will continue to oversee the finance function and will now assume the role of Company Secretary.
“We are confident that Futura will continue to make significant progress during the remainder of 2008 and beyond. We are a company on the threshold of revenues from CSD500 and from other product opportunities based on our core DermaSys® technology, the quality of which is underlined by the study results from our TPR100 programme.”
For any further information please contact:
Futura Medical plc
James Barder, Chief Executive
+44 (0) 1483 685 670
james.barder@futuramedical.co.uk
www.futuramedical.co.uk
Nominated Adviser:
Canaccord Adams Limited
Ryan Gaffney / Adria Da Breo
Tel: +44 (0) 20 7050 6500
For any media enquiries please contact:
Buchanan Communications Limited
Mark Court
markc@buchanan.uk.com
Rebecca Skye Dietrich
rebeccad@buchanan.uk.com
+44 (0) 20 7466 5000
Notes to Editors
Futura Medical plc
Futura Medical is a pharmaceutical group that develops innovative products for consumer healthcare. The Company is developing a portfolio of products and its strategy is to license their manufacture and distribution to major pharmaceutical and healthcare groups.
Futura is based in Guildford, Surrey, and its shares trade on the AIM market of
the London Stock Exchange.