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Futura Medical PLC (AIM:FUM, OTC:FAMDF, FRA:GYX), the sexual health group behind the Eroxon erectile dysfunction gel, has begun a formal process that could see the sale of the business, or its assets. The move comes alongside a placing and subscription to raise approximately £1.6 million, which should fund it through to the conclusion of negotiations.

Futura Medical PLC (AIM:FUM, OTC:FAMDF, FRA:GYX)  has passed a series of operational milestones across its sexual health portfolio as it repositions for growth following a strategic review. The AIM-listed group behind Eroxon, the over-the-counter erectile dysfunction gel, appointed Market Performance Group as its new US commercial partner from 1 September, replacing Haleon after a two-month transition.