Syntopix Group Business Update : News from McNeill.org.uk

Syntopix Group Business Update

30 September 2011
Syntopix Group Business Update

Syntopix Group plc has released a business update.

Syntopix Group plc (AIM:SYN), the dermatological experts delivering healthcare innovation to the cosmetic, consumer healthcare and pharmaceutical industries, is pleased to provide a business update for the period ended 31 July 2011 ahead of the Group's final results which will be announced on Tuesday, 29 November 2011.

As announced on 27 September 2011, the Group will be holding a General Meeting on 20 October 2011 at which shareholders will vote on a special resolution proposing that the name of the Group is changed to Evocutis plc.

Following the acquisition of Leeds Skin in May 2011, the Board is pleased to announce that the integration of that business with Syntopix is in line with the Board's expectations. The Company is progressing with the development of a new brand to reflect the strengths of the combined business; and the businesses are now located at one specialised facility in Wetherby, Yorkshire.

The combined Group now has three business divisions:

1. Clinical Research Services in dermatology
2. LabSkinTM - a proprietary human skin model to certify the efficacy of dermatology products
3. Consumer skin care products

Dr Steve Jones, CEO of Syntopix, commented: "We are pleased to report that the reorganisation of the business is complete, following the acquisition of Leeds Skin in May 2011, and we are now leveraging the considerable synergy of the customer bases from the two companies. We believe that the three facets of the business will enable the Company to generate revenues in the immediate, mid, and long-term.

"Our Clinical Research Services division is revenue generating, and has an impressive blue-chip client base.

"The LabSkinTM division has already developed and validated its first model to assess the efficacy of anti-dandruff products. Further skin model systems are in validation and development, and will be announced in due course. The LabSkinTM model will enable our customers to generate qualitative data on their compounds and products which, we believe, surpasses other laboratory-based research, and will allow for more scientific and evidence-based labelling.

"In the longer term, the business is developing a range of skin care products. The first range will be moisturisers for all aspects of dry skin.

"In conclusion, this is an extremely exciting time for the business. The bringing together of Syntopix and Leeds Skin has created a business that is sustainable with near term revenues, and we believe will have significant long-term upsides. We look forward to updating shareholders on further progress in due course."Syntopix Group plc (AIM:SYN), the dermatological experts delivering healthcare innovation to the cosmetic, consumer healthcare and pharmaceutical industries, today announces that a Circular containing details of a proposed change of name of the Company from Syntopix Group plc to Evocutis plc, including the Notice of the General Meeting, was posted to shareholders on 26 September 2011. The General Meeting will be held at 1.00pm on 20 October 2011 at the offices of IP Group plc, 24 Cornhill, London, EC3V 3ND.

Copies of the Circular, including the Notice of General Meeting will be available on the Company's website, www.syntopix.com and from the registered office, Leeds Skin Building, Sandbeck Lane, Wetherby, LS22 7TW.