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4 March 2021 | 09:05am
StockMarketWire.com - Pharmaceutical company Futura Medical said it had entered into a licensing agreement with Pride Century Ventures to allow the latter to exclusively develop and commercialise the company s gel-based erectile dysfunction treatment MED3000, in China and South East Asia.
Under the collaboration, profits from sales of the drug in the region would be split 50-50.
Pride Century Ventures, a special purpose vehicle owned by Co-High Investment Management Limited, will provide funding currently estimated to be up to £4 million for development and regulatory approval of MED3000 in the region.
The company also raised up to £2 million from HT Riverwood Multi-Growth Fund from a debt and warrants offering.