Contrary to the perceptions given by the increased awareness of erectile dysfunction ("ED"), premature ejaculation ("PE") is probably the most common form of male sexual dysfunction. The Global Study of Sexual Attitudes and Behaviour, published in 2003, reported an overall global prevalence rate in men of 21.4%. This suggests that the potential market opportunity for a treatment for PE could exceed the size of the ED market.
PE is a complex and often overlooked sexual disorder. Whilst ED sufferers now have access to treatments, information and support, there is currently only one clinically proven licenced treatment for PE (an oral, prescription only product, available in two countries) and relatively little information and support available to PE sufferers. In these respects the situation is similar to that of ED sufferers pre-Viagra®.
PE can be difficult to define. The American Urological Association use the following definition: "ejaculation that occurs sooner than desired either before or shortly after penetration, causing distress to either one or both partners". Unlike ED it is a problem encountered by men of all ages, with no significant variation linked to age. Many men will have encountered the problem of premature ejaculation occasionally or on a situational basis, for example when dating a new partner or when going through stressful times.
Following market research conducted by Futura, PET500 has been designed to meet the requirements of men who suffer from occasional early ejaculation as well as men suffering from clinically diagnosed premature ejaculation. In considering how to market the product and subject to local regulatory requirements, we believe that 'enhanced sexual control' is a more attractive marketing positioning for the product. Many men who, if medically assessed, might be diagnosed as suffering from premature ejaculation would not consider themselves as suffering from this condition or seek medical treatment due to the stigma associated with the indication of premature ejaculation. We believe that a clinically proven product to treat premature ejaculation but which is marketed as a product to 'enhance sexual control' will provide a much wider potential market for the product and have greater acceptability from sufferers of premature ejaculation.
In 2011, we signed an exclusive worldwide agreement with Ansell Ltd for the distribution rights to PET500.