Futura Medical plc has announced an expansion of its partnership with M8 Pharmaceuticals, Inc. The licensing agreement for Futura's product MED3000 has been extended to include an additional fourteen countries in the Central and South American region. The agreement builds on the existing partnership between the two companies, which initially covered Brazil and Mexico. As part of the extended agreement, Futura has received an upfront milestone payment from M8. The commercial terms and initial duration of the agreement remain unchanged. Futura continues to build a global distribution network for MED3000, a fast-acting treatment for erectile dysfunction.
James Barder, CEO of Futura, expressed his excitement about the expanded partnership, stating, "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." He also highlighted the company's successes in 2023 and its anticipation of new country launches in 2024.
Futura Medical plc is a pharmaceutical company focused on developing innovative products based on its proprietary transdermal DermaSys® technology. MED3000 is Futura's topical gel formulation for erectile dysfunction, which has demonstrated effectiveness and a rapid speed of onset in clinical studies. M8 Pharmaceuticals is a specialty biopharmaceutical company that licenses, markets, and distributes therapeutics in Brazil and Mexico.