18 July 2023
Jeff Needham to succeed John Clarke as Non-Executive
Chairman of Futura Medical plc
Futura Medical plc (AIM: FUM) ("Futura" or the "Company"), a pharmaceutical company developing a portfolio of innovative products based on its proprietary, transdermal DermaSys® drug delivery technology focused on sexual health, announces that Non-Executive Chairman, John Clarke has stepped down and is succeeded by existing Non-Executive board member, Jeff Needham.
John joined Futura on 1 November 2011 and has been instrumental in driving the Company's strategy and success in securing commercial partnerships. His departure is part of a planned transition with Independent Non-Executive Director, Jeff succeeding John as Chairman. Jeff has been a Non-Executive Director of the Company since October 2021. A search for a new Non-Executive Director is underway and an announcement will be made in due course. The Company continues its progress in a pivotal year of success in broadening the distribution and availability of MED3000 across different markets, worldwide.
James Barder, Chief Executive Officer of Futura, said: "John has been an outstanding leader and has been instrumental in shaping the growth of Futura since his appointment. On behalf of the board and the Futura team I would like to thank him for his significant contributions and critical guidance and leadership. We wish John all the best for the future and in his new roles elsewhere. As the commercialisation of MED3000 continues to gather pace in the US and globally, we are fortunate to have a natural successor on the board. Jeff's extensive experience and expertise with the consumer healthcare products industry, in particular in the US market, will be invaluable as Futura enters an exciting new chapter in its development."
John Clarke, departing Chairman of Futura, commented: "Following yesterday's announcement of the Company's US collaboration with global leading consumer healthcare company, Haleon, and as the Company enters its next stage of growth, it is the appropriate time for me, after twelve years to move on. It has been a privilege to work with the Futura team, seeing transformational progress, growth and execution. Achieving FDA approval for our lead product MED3000 was a critical focus for me as Chairman, significantly de-risking MED3000 and allowing the Company to negotiate a US commercialisation deal that would make MED3000 available to consumers in the largest ED market worldwide. It is now a pleasure to pass the baton to Jeff who I trust to continue to lead the business on its next stage of growth and innovation."
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For further information, please contact:
Futura Medical plc
James Barder, Chief Executive Officer
Angela Hildreth, Finance Director and COO
Email: investor.relations@futuramedical.com
Tel: +44 (0) 1483 685 670
Nominated Adviser and Sole Broker:
Liberum
Phil Walker/ Richard Lindley/ Ben Cryer
Tel: +44 (0) 20 3100 2000
For media enquiries please contact:
Optimum Strategic Communications
Hollie Vile/ Jonathan Edwards/ Zoe Bolt
Email: futuramedical@optimumcomms.com
Tel: +44 (0) 203 882 9621
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. Each DermaSys® formulation is separately patented and specifically tailored for the selected indication and application, as well as being optimised for clinical efficacy, safety, administration and patient convenience. The products are developed for the prescription and consumer healthcare markets as appropriate. 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 novel treatment for erectile dysfunction (ED) through a unique evaporative mode of action. Futura has conducted two Phase 3 studies using MED3000 in ED; FM57 study which enabled Futura to be granted a CE Mark in 2021 and FM71 which enabled Futura to be granted US marketing authorisation. Both studies demonstrated that MED3000 presents an effective clinically proven treatment for ED with a rapid speed of onset and a favourable benefit versus risk profile ideally suited for an 'Over the Counter' classification.
Eroxon® is FDA approved in the US, CE marked in Europe and UKCA marked in the UK as a clinically proven topical treatment for adult men with erectile dysfunction under the brand Eroxon® with a key claim of "Helps you get an erection within 10 minutes". Eroxon® is the agreed brand name in certain regions such as the EU whereas MED3000 continues to be the internal code name used by the Company and also in reference to countries where regulatory approval or commercial distribution agreements have not yet been achieved. www.eroxon.com
Futura is based in Guildford, Surrey, and its shares trade on the AIM market of the London Stock Exchange. www.futuramedical.com.
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