3rd Jul 2008 07:00
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For immediate release |
3 July 2008 |
SYNTOPIX GROUP PLC
("Syntopix" or "the Company")
Syntopix signs Joint Development Agreement with Procter & Gamble
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
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Syntopix Group plc |
+ 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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Buchanan Communications Limited |
+ 44 (0) 20 7466 5000 |
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Mark Court |
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Catherine Breen |
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KBC Peel Hunt Ltd |
+ 44 (0) 20 7418 8900 |
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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.
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