Futura plans private placing to raise

Published: 27-Aug-2001


Futura Medical is to raise £3 million through a private placing. The UK company, which has developed a topical cream for the treatment of erectile dysfunction (MED2001), hopes that an application will be made within 12 months to admit the company to the London Alternative Investment Market (AIM).

Futura plans to license the manufacturing, marketing and distribution of MED2001 to leading manufacturers in the global pharmaceuticals market.

Phase III development trials are expected to be underway in the UK and France by the end of the year.

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