Haleon to commercialise MED3000 in the US
Lighthouse | 17 July 2023
Trinity Delta view: We knew 2023 was going to be pivotal for Futura Medical, and this earlier than expected US commercialisation partnership is the third major event so far (following Eroxon’s successful maiden launch in Europe, as confirmed at the June investor event, and FDA clearance of MED3000 as a unique OTC treatment for ED). The quality of Haleon as a commercial partner is beyond doubt and, in our view, validates the entire MED3000 investment case. Our valuation, once seemingly ambitious, is £270m, equivalent to 94p per share; however, we expect to review this as soon as forecasting visibility improves.
17 July 2023
Futura Medical is an R&D driven small pharma company, with a novel DermaSys transdermal delivery platform. The lead programme, a topically applied gel (MED3000), has been approved as an OTC product for ED (erectile dysfunction) in Europe and the US.
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