The Institute of Pharmaceutical Innovation

Wednesday 15th April, 2009 Syntopix sign exclusive evaluation agreement

Syntopix Group based in the IPI incubator has signed an exclusive evaluation agreement with a major consumer healthcare company.

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”