Syntopix Interim Results

08 March 2011
Syntopix Interim Results

Syntopix Group plc announce interim results

Syntopix Group plc (AIM: SYN), the speciality pharmaceutical research and development company focused on topical antimicrobial innovations for products in the medicine and consumer healthcare markets, today announces its interim results for the six months ended 31 January 2011.

Financial Highlights

  • Increased sales revenue from commercial agreements to £161,000 (2009: £104,000)
  • Operating loss of £559,000 (2009: £517,000)
  • Loss per share reduced to 4.7p (2009: 5.9p)
  • Cash balance of £1,068,000 as at 31 January 2011
Operational Highlights

  • Lead compound, SYN1113, compared favourably versus a global brand in recent clinical study against acne
  • SYN1113 currently under exclusivity agreement with global consumer healthcare company
  • Entered into partnership agreements with Sinclair Pharma and Beiersdorf AG among others
  • Grown compound library to over 3,000 candidates
  • Won challenge to develop new microemulsions for skincare products, backed by Intelligent Formulation

Dr Stephen Jones, Chief Executive Officer, commented: "I am pleased to report higher revenues in the first half of this year than the last full year as our antimicrobial compound library grows and our screening programmes broaden our data. Our compounds continue to be of wide interest to the pharmaceutical and healthcare industry and we have signed a number of exclusivity deals across the acne, oral hygiene and deodorant markets. We are also pleased to be involved in joint development projects with several of our partners, demonstrating that our partners see the value of the expertise within the Group.

"The Board is currently exploring ways in which Syntopix can expand its business offering and strengthen its revenue streams, and we believe that 2011 could be a transformational year for the Group. I look forward to updating shareholders in due course."

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