LONDON: Futura Medical plc, a pharmaceutical company developing a portfolio of innovative products based on its proprietary, transdermal DermaSys® drug delivery technology and currently focused on sexual health and pain, made a joint venture collaboration with CBDerma Technology Limited to explore the application of Futura’s advanced proprietary transdermal drug delivery technology, DermaSys® for delivery of Cannabidiol.
All Intellectual Property will be owned jointly by the Company and CBDerma Technology Limited.
CBDerma Technology is a company that has been established and funded to specifically exploit the therapeutic potential of Cannabis. The company’s management, backers and advisors have extensive knowledge, expertise and investments in plant derived product manufacturing. Cannabidiol is a major component of the cannabis plant and is generally regarded as non-addictive and non-psychoactive, making it ideal for consideration as a topically delivered molecule for local or regional (non-systemic) use.
Initial development costs are expected to be in the region of US$ 1 million and will cover all development costs incurred by the Company during the next 15 months in order to develop and optimise a DermaSys®- cannabidiol formulation as well as establishing early ex-vivo proof of concept studies likely to include certain disease states most suited for local or regional (non-systemic) topical treatment such as pain relief. The Company does not expect this project’s initial development to have any material impact on cashflow as Futura’s financial share of the project will be delivered from its expertise and existing internal resources.
DermaSys® provides rapid and targeted local delivery of active pharmaceutical ingredients at therapeutic levels through the skin to the required site of action with a high level of safety. It is a versatile and bespoke technology that can be tailored to suit the specific active compound being used and the therapeutic indication. Each product is formulated to maximise its benefits for patients and consumers and can be developed for the prescription and consumer healthcare markets as appropriate.
James Barder, CEO of Futura Medical said: “Futura’s core strength lies in our research and development capabilities, particularly in the application of our proprietary Dermasys® transdermal delivery system which enables targeted and controlled delivery of drugs through the skin. The benefits and applications of cannabis and cannabidiol in both the medical and consumer markets are well known and expanding rapidly. However, optimised and targeted topical delivery of the active ingredients remains a problem. We believe that our Dermasys® technology has the potential to solve these issues, advancing product development and expanding indications and use of Cannabidiol.”
Edited by Kiran Khan