Futura Medical shares rise on ED licensing deal with Haleon

Shares in Futura Medical gained on Monday after the company said it signed a licensing deal with consumer heath care giant Haleon for the rights to exclusively commercialise its topical, gel-based erectile dysfunction treatment MED3000 in the USA.

Futura will receive an initial upfront payment of $4m, royalty payments on all sales of MED3000 by Haleon and potential commercial and performance-driven sales milestone payments totalling between $5m and $45m payable over the course of several years