Labatec Pharma SA announces Exclusive Licensing Agreement signed with Futura Medical to Commercialise MED3000 in the Gulf and Middle East Region

Published on 29 September 2021



Labatec Pharma SA (Labatec) has signed an exclusive licensing agreement with Futura Medical plc (AIM: FUM) (Futura), for the rights to commercialise the Company’s topical, gel-based Erectile Dysfunction (“ED”) treatment MED3000.

Under the terms of the agreement, which is for an initial 8-year period, Futura and Labatec will work together to gain marketing authorisation and commercialise MED3000 as a clinically proven treatment for Erectile Dysfunction in Jordan, Lebanon, Iraq and the GCC region of Saudi Arabia, the United Arab Emirates, Kuwait, Qatar, Oman and Bahrain.

Faisal Darwazeh, CEO of Labatec: “We are delighted to license Futura’s MED3000 for the GCC and other Middle Eastern countries. There is significant market potential in the region for MED3000 as a trusted, branded medicine for enhancing erectile performance. We are confident of generating significant value and long-term sustainable growth for both Futura and Labatec with this innovative, clinically proven product.”

James Barder, Chief Executive of Futura Medical: “This is our third commercial agreement for MED3000, and we are excited to be working with Labatec to expand the product’s market reach into Middle Eastern countries as we continue MED3000’s regulatory and commercial rollout worldwide. Labatec is a trusted medicines supplier in the region that is ideally placed to market both prescription and retail products, and its local teams have a deep understanding of regional markets and experience in rapidly registering and launching new products. We look forward to working closely with them.”

About Labatec

Labatec is a Swiss-based private pharmaceutical company, headquartered in Geneva, Switzerland. Our company has 50+ years experience in the production and supply of medicines to 11 countries comprising Switzerland, the Middle East and North Africa and expanding today in Europe. We aim to be a leading licensing partner in generic and specialty innovative medicines in our markets with an extensive portfolio of 70+ products in both the retail and hospital segments. We serve our communities by developing, manufacturing, and distributing high quality medicines covering major therapeutic areas such as musculo-skeletal, ophthalmology, anaesthetics, oncology, anti-infectives and women’s health.
Labatec Pharma is a privately owned business, founded in 1957 and acquired in 2008 by Dr. Samih Darwazah, founder of Hikma Pharmaceuticals PLC. www.labatecpharma.com

For further information please contact:
Labatec Pharma SA
Viktoria Stepanova, COO
Email: bd@labatec.com
Tel: +41 22 785 95 00 (Head Office)

For media enquiries please contact:
Labatec Pharma SA
Head of Press & Communications
Email: press@labatec.com
Tel: +41 22 785 95 00 (Head Office)

About Futura Medical plc

Futura Medical plc (AIM: FUM), is a pharmaceutical company developing a portfolio of innovative products based on its proprietary, transdermal DermaSys® technology. Current therapeutic areas are sexual health, including erectile dysfunction, and pain relief. Development and commercialisation strategies are designed to maximise product differentiation and value creation whilst minimising risk.

MED3000 is Futura’s topical gel formulation that is a breakthrough treatment for erectile dysfunction (ED) through a unique evaporative mode of action. MED3000 begins to work immediately in some patients, with 60% of patients seeing onset of their erection within 10 minutes of application. MED3000 is CE marked in Europe and the UK as a clinically proven topical treatment for adult men with erectile dysfunction.
Futura is based in Guildford, Surrey, and its shares trade on the AIM market of the London Stock Exchange. www.futuramedical.com

For further information please contact:
Futura Medical plc
James Barder, Chief Executive
Angela Hildreth, Finance Director and COO
Email: investor.relations@futuramedical.com
Tel: +44 (0) 1483 685 670

Nominated Adviser and Sole Broker:
Liberum
Richard Lindley/ Euan Brown/ Kane Collings
Tel: +44 (0) 20 3100 2000

For media enquiries please contact:
Optimum Strategic Communications
Mary Clark/ Eva Haas/ Hollie Vile
Email: futuramedical@optimumcomms.com
Tel: +44 (0) 203 922 0900
Full press release here:
https://polaris.brighterir.com/public/futura_medical/news/rns/story/rmnez9w


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