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Futura Medical
- BY: Andrew Hore |
- POSTED: 08/09/2009 |
Futura Medical says that it is on course to receive the CE Mark for its CSD500 condom that helps men to maintain a firm erection.
This sparked a 1.5p rise in the share price to 24p, which values the company at £15m.
Manufacturing is being moved to India. The CE Mark should be received before the end of the year and that will enable SSL International to launch the product commercially under the Durex brand.
In July 2009, Futura revealed an agreement with a major pharmaceutical company for the development of its TPR100 topically applied product for pain relief. There was an upfront fee of £50,000 from the pharma company and the evaluation period will last until later this year. TPR100 achieves better skin permeation than the market leader.
Interim results will be published on 23 September 2009.
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