Gunsynd Regulatory News (GUN)

14 Apr 2009 07:00



SYNTOPIX GROUP PLC

("Syntopix" or "the Company")

Signs exclusive evaluation agreement 

Syntopix Group plc (AIM: SYN), the speciality pharmaceutical research and development company focused on topical treatment of dermatological diseases, is pleased to announce that it has signed an exclusive evaluation agreement with a major consumer healthcare company. In this agreement, Syntopix will make available the Company's library of compounds for evaluation  of their  application in a number of areas as candidates for development into commercial products.

The financial details of the agreement are confidential, although Syntopix will receive an upfront payment at the start of the exclusivity period and further payments for any compounds subject to additional evaluation. Commercialisation of a compound would be subject to a licence agreement to be negotiated separately. 

Syntopix' focus remains the development of prescription and OTC products for the topical treatment of dermatological diseases. This agreement highlights the Company's strategy of leveraging its compound library and intellectual property into consumer healthcare markets.

Dr Stephen Jones, Syntopix' Chief Executive Officer, said: "I am delighted that Syntopix has entered into this agreement with  one of the world's largest consumer healthcare companies. We continue to identify potential markets for to the antimicrobial expertise of Syntopix, and we believe that our technology has the potential to improve the effectiveness of many healthcare brands. Our core focus remains the development of products for the topical treatment of dermatological diseases, though this agreement further highlights our ability to leverage our assets into consumer healthcare"

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About Syntopix Group plc

Syntopix is a group focused on the discovery and development of drugs for the topical treatment of dermatological diseases. 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 Group currently has 12 pending 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 Group intends to out-license products to commercial partners on obtaining proof of principle and to seek co-development partnerships.

The Group 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 further information please visit www.syntopix.com.