Gunsynd Regulatory News (GUN)

12 Nov 2009 07:00

Syntopix Group plc

("Syntopix" or "the Company")

Business update

Syntopix Group plc (AIM:SYN), the speciality research and development company focused on the discovery of topical antimicrobials for healthcare and pharmaceutical applications, is pleased to provide the following business update. 

Following positive feedback from a number of potential licensing partners and the strong results from its Phase II cosmetic study announced today, Syntopix has made the strategic decision to focus its development efforts around three specific core compounds: SYN0126, SYN1113 and SYN0017, in order to accelerate commercialisation.  These are the most advanced compounds in the portfolio and the Company has identified key areas that should significantly enhance the value of each compound and enable rapid delivery to the market.  Each has multiple potential uses across a number of large consumer healthcare markets including skincare, hair care and oral care. 

Syntopix will continue its screening programme to identify antimicrobial compounds for use in over-the-counter (OTC) and cosmetic products especially those used in skin care, oral care and chewing gum.

Syntopix continues to develop a strong working relationship with Procter & Gamble (P&G) and is in close collaboration to develop antimicrobials for use in an undisclosed 'major consumer healthcare brand'. The Company has also announced that it has renewed its exclusivity and evaluation agreement with another 'major consumer healthcare company' announced on 14 April 2009. Although financial details of the renewal are confidential, Syntopix will continue to receive payments for any compounds subject to additional evaluation. Commercialisation of a compound would be subject to a license agreement under separate cover.

Syntopix is also pleased to announce that it has had its tenth UK patent granted, GB2449973, which further protects one of its lead compounds SYN0126 and provides for a technology which could greatly improve the efficacy of cosmetic products for spot-prone skin. To date, Syntopix has submitted 22 core patent applications of which 12 have reached the Patent Cooperation Treaty stage, the point at which patent protection is sought in key international territories to support global exploitation of the invention. The Syntopix compound SYN0126 is protected by three core patent applications which at present cover all major global territories.

Stephen Jones, Chief Executive Officer of Syntopix, said: "We believe that our strategy of delivering clinically proven formulations to the cosmetic and consumer markets will enable Syntopix to gain early revenue streams whilst providing 'ownable technologies' to our partners.  Syntopix has already attracted the interest of two major consumer healthcare companies and we are confident that the positive results from the latest study will lead to further commercial deals in the near future. We continue to strengthen our pipeline and we believe 2010 will be a very exciting year for the Company."

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  Notes to editors

Syntopix is a specialised research and development business, focusing on topical antimicrobial innovations for products in consumer healthcare and pharmaceutical markets. The Company was founded in 2003 as a spin-out from the University of Leeds by Dr Jon Cove and Dr Anne Eady, two of the leading experts in skin microbiology, with initial funding from The Wellcome Trust.

Syntopix' strategy is to seek to reduce the risks and costs of drug discovery and development by discovering novel uses for known compounds. The Company concentrates on compounds and combinations of compounds that have a history of use in man; and that have well characterised properties, for example antimicrobials and anti-inflammatories. The Company currently has 10 granted UK patent applications.

Syntopix is currently concentrating on acne and has identified a pipeline of lead drug candidates that it intends to take through pre-clinical and, as appropriate, clinical trials. The Company intends to out-license products to commercial partners on obtaining proof of principle and to seek co-development partnerships.

The Company is based at the Institute of Pharmaceutical Innovation in Bradford, giving access to the expertise in skin biology, formulation and toxicology at the universities of Bradford and Leeds.

Syntopix' shareholders include Techtran Group Limited (a subsidiary of IP Group plc), The Wellcome Trust Limited, University of Leeds Limited and Ridings Early Growth Investment Company Limited. Syntopix joined the AIM market of the London Stock Exchange in March 2006.

For more information, please visit our website at www.syntopix.com.

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