MED3000 receives CE Mark as a Class II(b) device
Lighthouse | 30 April 2021
Trinity Delta view: Although MED3000’s imminent approval in Europe was flagged in March, the receipt of the official documentation paves the way for commercialisation discussions for a number of geographies to proceed at pace. The timings remain uncertain, but we would expect to see a number of deals in place within the next six months. For these geographies, the key sensitivity shifts from regulatory risk to execution risk, particularly the nature and scope of the commercialisation agreements. Our valuation model employs conservative assumptions and values Futura Medical at £190.3m which, following the full conversion of the loan notes held by HT Riverwood Multi-Growth Fund (Atlantis Group) earlier this month, is equivalent to 74.3p per share.
30 April 2021
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 in Europe as a medical device for ED (erectile dysfunction), with the US awaiting a final confirmatory study.
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