Raising £12m through £10m placing and £2m retail offer
Lighthouse | 17 May 2021
Trinity Delta view: The MED3000 CE Mark, received on April 30, effectively removed regulatory risk for the European markets (plus other geographies that recognise the CE Mark). In these regions, the emphasis switches to commercial execution, with a number of agreements addressing these regions expected to be struck in the coming six months. The US regulatory risks remain, albeit reduced following extensive discussions with the FDA. Pending the outcome of the placing we suspend our valuation and forecasts. Our previous valuation was £190.3m, equivalent to 74.3p per share.
17 May 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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