Syntopix Group plc - Signs joint development agreement with Procter & Gamble
03 Jul 2007
Syntopix Group plc (AIM: SYN) the speciality pharmaceutical
research and development
company focused on dermatological diseases, is pleased to announce
that it has entered into a joint development agreement with Procter
& Gamble, the world's largest consumer goods product
company.
Under the terms of the agreement, Syntopix and Procter &
Gamble will investigate the use
of Syntopix' novel antimicrobial technology with the objective of
improving the efficacy of one of Procter & Gamble's major
consumer healthcare brands.
Financial details of the agreement are confidential though
Procter & Gamble will have the
opportunity to commercialise the Syntopix technology developed
under the joint development agreement.
This latest agreement emphasises Syntopix' strategy of
leveraging its compound library and
intellectual assets into markets outside of dermatological disease
and into broader consumer healthcare markets. This agreement
follows an agreement announced in December 2007 with another major
consumer healthcare company.
Dr Stephen Jones, Syntopix' Chief Executive Officer, commented: "I am delighted that Syntopix has entered into this joint development agreement with Procter & Gamble, the world's largest consumer goods product company. We believe that Syntopix' antimicrobial technology has the potential to improve the effectiveness of consumer healthcare brands and it is particularly pleasing to sign this agreement with a company such as Procter & Gamble.
"This agreement validates our strategy of broadening the number of potential markets available to the antimicrobial expertise of Syntopix to include consumer healthcare, as well as the over the counter and prescription markets associated with treating dermatological conditions."
Enquiries
Syntopix Group
plc
+ 44 (0) 845 125 9204
Dr Rod Adams, Chairman
Dr Stephen Jones, Chief Executive Officer
Buchanan Communications
Limited
+ 44 (0) 20 7466 5000
Mark Court
Catherine Breen
KBC Peel Hunt
Ltd
+ 44 (0) 20 7418 8900
Capel Irwin
Notes to editors
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 3 granted patents and 12 further pending patent applications.
Syntopix is currently concentrating on acne and Staphylococcus
aureus infections 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.
