Futura expands partnership with M8 Pharmaceuticals for remainder of Central and South American region

Futura Medical plc (AIM: FUM) (“Futura” or the “Company”), the pharmaceutical company developing innovative sexual health products, is pleased to announce that M8 Pharmaceuticals, Inc ("M8") has taken up its rights to extend its licensing agreement from Brazil and Mexico to market MED3000 in a further fourteen countries throughout the Central and South American region.

Futura’s commercial agreement with M8 included an option, which has been exercised, to take up exclusive development and commercialisation rights for MED3000 throughout South and Central America. Futura has received an undisclosed upfront milestone payment from M8 as part of the extended agreement. The extension builds on the agreement signed in August 2021 for the rights to exclusively develop and commercialise MED3000 in Brazil and Mexico, the two biggest countries and healthcare markets in South and Central America and the announcement in October 2023 that M8 has received approval for MED3000 to be marketed in Mexico as a topical treatment for ED available OTC without the need for a prescription under the Eroxon® brand.

Apart from the geographic expansion, the commercial terms and initial duration of the agreement remain unchanged as Futura continues to build a global distribution network for its breakthrough fast acting and clinically proven treatment for erectile dysfunction.

James Barder, Chief Executive Officer of Futura said: “This is another major step forward in the execution of Futura’s strategy. M8 is an excellent partner with dedicated brand-building and marketing experience, as well as scale and strong pharmaceutical connections in South and Central America and we look forward to working closely with them across the Latin American region.

“This agreement builds on a string of major successes that Futura has realised in 2023.  We continue to be excited as the fundamentals of the Company continue to strengthen. Futura is well positioned as we look forward to a significant number of new country launches in 2024 across the world.”