By Anthony O. Goriainoff

Futura Medical said Monday that it will receive an initial upfront $4 million payment as part of the licensing agreement reached with Haleon for the rights to exclusively commercialize its erectile dysfunction treatment, MED3000.

The U.K. pharmaceutical developer focused on sexual health and pain relief said potential commercial and performance-driven sales milestone payments totaling between $5 million and $45 million are payable over the course of several years.

It added that Haleon will be responsible for the future launch as well as the continuing regulatory, development, marketing, and commercialization of MED3000 in the U.S.

"MED3000 has previously been approved as the first pan-European clinically proven topical treatment for ED available over the counter and is now available in Belgium and the U.K." the company said

Write to Anthony O. Goriainoff at anthony.orunagoriainoff@dowjones.com

(END) Dow Jones Newswires

July 17, 2023 02:33 ET (06:33 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.
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