FUM

Futura Medical PLC

Health Care First-pass screen £4.86m

210/1000 Overall fit

AI beneficiary 35% 5

Operating leverage 25% 35

Valuation 25% 30

Downside protection 15% 22

First-pass take

Pre-revenue pharmaceutical company with zero AI exposure, focusing on niche ED treatment. Early-stage execution risk (FDA approval pending), going concern uncertainty noted, and substantial cash burn (£6.3m annual) against £4m cash reserves.

Flags

loss-makingpre-revenuegoing-concernfda-pendingpartner-dependentno-aimicro-cap