Futura Medical plc, the pharmaceutical group that develops innovative products for consumer healthcare, announces that it has signed a development agreement with GlaxoSmithKline Consumer Healthcare (GSK) for the development of TPR100, the company's novel, topically applied product for pain relief.

Under the terms of the agreement GSK will fully fund and be responsible for all clinical and regulatory development. GSK will also pay modest annual payments to Futura whilst development work proceeds. Subject to satisfactory clinical outcomes and regulatory approvals both parties expect to enter into a commercial distribution agreement in due course.

James Barder, Futura's chief executive, said: "This agreement marks another important step in the development of Futura. It broadens the company's commercial relationships and sources of potential royalty income. In addition, it provides further endorsement of our DermaSys drug delivery technology and of our strengths in product development."

Futura Medical plc is a pharmaceutical group that develops innovative products for the consumer healthcare market with a strong expertise in sexual healthcare and pain relief management.