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14 Apr 2009 07:00
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FOR RELEASEΒ |
14th AprilΒ 2009 |
SYNTOPIX GROUP PLC
("Syntopix" or "the Company")
SignsΒ exclusiveΒ evaluationΒ agreementΒ
Syntopix Group plcΒ (AIM: SYN),Β theΒ specialityΒ pharmaceuticalΒ research andΒ development companyΒ focused onΒ topical treatment ofΒ dermatological diseases,Β is pleased to announce that it has signed anΒ exclusiveΒ evaluationΒ agreementΒ withΒ a major consumer healthcare company. In this agreement, Syntopix willΒ make availableΒ theΒ Company's library of compoundsΒ forΒ evaluationΒ Β of theirΒ Β applicationΒ inΒ a number of areasΒ as candidates for developmentΒ into commercial products.
The financial details ofΒ theΒ 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.Β Commercialisation of a compound would be subject to a licence agreement to be negotiated separately.Β
Syntopix'Β focus remains the development of prescription and OTC products for theΒ topicalΒ treatment of dermatological diseases. This agreement highlights the Company's strategy ofΒ leveragingΒ its compound library and intellectual property intoΒ consumer healthcareΒ markets.
Dr Stephen Jones, Syntopix' Chief Executive Officer, said:Β "I am delighted that Syntopix has entered into this agreement withΒ Β one of the world's largest consumer healthcare companies.Β We continue to identifyΒ potential marketsΒ forΒ to the antimicrobial expertise of Syntopix, and we believe that our technology has the potential to improve the effectiveness ofΒ many healthcare brands.Β Our core focus remains the development of products for theΒ topicalΒ treatment of dermatological diseases,Β though this agreementΒ furtherΒ highlightsΒ our ability to leverage our assets intoΒ consumer healthcare"
Enquiries
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Syntopix Group plc |
+Β 44 (0) 845 125 9204 |
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Dr Rod Adams, Chairman |
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Dr Stephen Jones, Chief Executive Officer |
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Zeus Capital |
+ 44 (0)Β 161 831 1512 |
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Ross Andrews Bobby Fletcher |
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Notes to editors
About Syntopix Group plc
SyntopixΒ isΒ 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 theΒ UniversityΒ ofΒ LeedsΒ 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 12Β pendingΒ UKΒ 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 theΒ InstituteΒ ofΒ Pharmaceutical InnovationΒ in Bradford, giving access to the expertise in skin biology, formulation and toxicology at the universities of Bradford andΒ 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 visitΒ www.syntopix.com.
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