Futura Medical PLC (AIM:FUM, OTC:FAMDF) CEO James Barder speaks to Thomas Warner from Proactive London after announcing the signing of an agreement with Haleon to market Futura's topical, gel-based erectile dysfunction treatment MED3000. Barder says he's absolutely delighted with the agreement, which gives Futura access to the world's largest market for erectile dysfunction treatments.
He gives a brief overview of the agreement, highlighting a $4 million upfront payment and milestone payments ranging from $5 million to $45 million. Barder emphasised the achievability of these milestones and mentioned that a royalty on all sales was also part of the agreement.
In related news, Futura Medical announced a change in leadership with Non-Executive Chairman John Clarke stepping down to be succeeded by existing Non-Executive board member, Jeff Needham. Barder says that Needham has "real, relevant experience as we look to launch in the biggest market in the world with MED3000."
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