Futura Medical reports progress with R&D pipeline

4th Nov 2024 14:21

(Sharecast News) - Futura Medical announced encouraging progress in its product development pipeline on Monday, with successful proof-of-concept results for two new treatments addressing sexual dysfunction.

The AIM-traded company said it was expanding its product range beyond its flagship product, Eroxon, with the introduction of WSD4000, a potential over-the-counter treatment for sexual dysfunction in women, and Eroxon Intense, an enhanced formulation targeting men who desired a stronger sensation for erectile dysfunction.

It said WSD4000 addressed a significant gap in the market, as 40% to 50% of women experienced symptoms of sexual dysfunction, yet there were no approved topical OTC treatments available.

In a clinical study, 40% of women and 63% of post-menopausal women reported arousal with the preferred formulation.

Futura said it had validated WSD4000's concept with the FDA, with a follow-up meeting set to focus on the clinical study design.

Currently undergoing a home user study with 60 participants, the results were expected by the first quarter of 2025.

Futura filed a new patent for WSD4000 in February, and was engaging potential commercial partners while evaluating the product's market potential.

Eroxon Intense, aimed at men seeking a more intense sensorial effect, meanwhile built on the success of Eroxon.

In a crossover study, 67% of male participants preferred the new formulation.

Further consumer testing was planned for the first half of 2025, with regulatory approval in the EU and US anticipated by the end of next year.

Interest from Futura's commercial partners suggested Eroxon Intense could strengthen the product portfolio within the growing sexual health market.

Development costs for both products were covered within Futura's existing research and development budget, with the company maintaining its 2024 and 2025 financial guidance.

"I am delighted to announce that our highly experienced research and development team has wasted no time in focusing on developing exciting new innovation within the OTC sexual health area," said chief executive officer James Barder.

"Having successfully developed, commercialised and signed world class partnerships for our first product, Eroxon, we are excited to announce the next phase of our NPD roadmap."

Barder said the company had already made "significant strides" following the launch of Eroxon internationally, including in the US in October, delivering its maiden profit in the 2024 financial year.

"In a prudent manner, we are now looking to expand our range especially within the underserved clinically proven treatments for women with sexual dysfunction, whilst continuing to focus on the rollout of Eroxon® across various geographical markets."

At 1357 GMT, shares in Futura Medical were up 3.19% at 38.05p.

Reporting by Josh White for Sharecast.com.