A SKIN gel designed to boost male potency has been approved by UK and European regulators leading to a sharp rise in the shares of its maker.
AIM-listed Futura Medical has seen its stock price increase by over 200% after securing approval for over-the-counter sales of MED3000 – with hopes it will secure US approval within weeks.
And, following successful trials using MED3000’s proprietary gel-based DermaSys with CBD, Futura plans to target the skin care, cosmetics, pain and inflammation markets with its CBD100 range.
CBD Market Growing Rapidly
James Barder, CEO of Surrey-based Futura Medical, told BusinessCann: “Our studies demonstrated highly-efficient penetration of cannabidiol into and through the skin, superior to an established, marketed, comparator product.
“Futura is in discussions with our joint venture partner over both the next steps from a development and also commercial standpoint, and we hope to update the market soon.
“The market for cannabidiol products is growing rapidly, and is primarily driven by the increase in the usage of cannabidiol in medical applications, supplements, beverages and skin care.”
MED3000 is being seen as the biggest recent breakthrough in the treatment of erectile dysfunction working within 10 minutes – six times faster than the market leader Viagra.
‘Better Than Blue Pill’
This follows a successful clinical trial during which 1,000 participants, in 60 centres across nine countries, experienced ‘even better outcomes than anticipated’. Futura says it is on course for full certification by the end of May.
Futura’s shares rose from 18p to over 60p following the announcement of EU and UK approval last week; March 18.
Mr Barder added: “An intellectual property filing has now been made covering various unique aspects of the CBD100 gel formulation.
“The EU is set to provide a regulatory update for cannabidiol use in cosmetics during this year, and Futura believe that a gel that has been formulated using strict pharmaceutical development principles with strong delivery characteristics, stability and high quality could be a very attractive commercial proposition when compared to current market incumbents in either cosmetic or more traditional pharmaceutical markets for cannabidiol such as pain and inflammation.”
Transdermal delivery is Futura’s speciality. DermaSys is a gel-based technology based on ‘volatile solvent and, or, penetration enhancer components’ tailored to suit the specific therapeutic indication, speed of onset and duration of action for each product.
The company’s portfolio includes pain relievers TPR100 and TIB200, formulated with diclofenac and ibuprofen, respectively, and shown to provide fast, effective and long-lasting relief when delivered using DermaSys, says Futura.
