The prince and the 'new viagra'

THE glamorous blonde linked to Prince Andrew has offered to put £1.5m into a firm making a rub-on Viagra-type cream - even though she faces a petition to have her bankrupted for debts over a quoted company's collapse.

Amanda Staveley wants to buy shares in Futura Medical Developments, which is about to be floated on the Alternative Investment Market. Futura, where she is a non-executive director, is about to pick a bank to sponsor an issue of shares on Aim.

Chief executive James Barder said: 'We are talking to institutions. A large number of shareholders and others have expressed interest in investing. Amanda is certainly interested, though I cannot confirm the figure.'

Staveley was invited to join the board of Futura after broker Collins Stewart raised £3m for the company's research into other products in 'the sexual dysfunction market'.

Staveley started dating Prince Andrew after he took the King of Jordan to visit companies at the Cambridge Science Park where she runs a struggling restaurant.

Her private companies have lost hundreds of thousands, but she struck it lucky when she sold half of Q.Ton, also based in Cambridge Science Park, to EuroTelecom for £750,000. Within six months of buying Q.Ton, EuroTelecom imploded. Now it is being investigated by the Stock Exchange and the Department of Trade and

Industry. After EuroTelecom's collapse, Staveley negotiated a deal with accountants PricewaterhouseCoopers to buy back a 49% stake in Q.Ton.

But despite requests from the accountants, she has failed to pay up. And three weeks ago, PWC filed to have her made bankrupt.

A spokesman for Staveley claimed that the petition, thought to involve tens of thousands of pounds, 'will be settled imminently'. He said: 'PWC has jumped the gun.'

Q.Ton's relationship with EuroTelecom was short and unhappy. Q.Ton became involved in a dispute with EuroTelecom over the installation of equipment at her restaurant and conference centre. She claimed the work was shoddy, though she stayed on the board of EuroTelecom after the row erupted until just before the company collapsed last year.

Futura's cream can be used by men with erectile dysfunction who cannot use Viagra pills because of other conditions.