Proactiveinvestors
Syntopix making progress towards antimicrobial commercialisation
In its first-half results, the Syntopix Group (AIM: SYN) said it is making progress as it continues to attract a number of commercial opportunities following last year’s completion of a Phase II clinical study and its evaluation agreement with a major consumer healthcare company. The company recently appointed a new chairman, and it is finalising plans for a proposed fundraising which will enable the company to progress these opportunities.
“Our established partnerships with major consumer healthcare companies, the interest being generated from our Phase II clinical study, together with the depth of Syntopix's compound library, positions us well for the next twelve months of development activity and securing licensing deals for products”, Syntopix chief executive Dr Stephen Jones commented.
Syntopix is a specialised research and development business, focusing on the discovery of topical antimicrobials for healthcare and pharmaceutical applications.
An antimicrobial is a substance that kills or inhibits the growth of micro-organisms such as bacteria, fungi, or protozoans. Antimicrobial drugs either kill or prevent the growth of these microbes. The company’s strategy concentrates on repositioning known antimicrobial compounds, or beneficial combinations of compounds, that have a history of use in humans.
Syntopix's main development focus is on three core compounds, SYN0126, SYN1113 and SYN0017, each of which has multiple potential application across a number of large consumer healthcare markets including skincare, hair-care and oral health.
The company’s primary focus and area of expertise continues to be the treatment of acne. According to Syntopix, Antibiotics have been the main treatment for mild to moderately severe acne over many years, but the bacteria causing acne has become more resistant to antibiotics, compromising efficacy. By combining non-antibiotic antimicrobials with complementary agents, Syntopix says its acne products overcome the problem of antibiotic resistance and therefore have an enhanced therapeutic efficacy.
Syntopix has over 1,800 compounds in its R&D library, with the most advanced lead compounds now entering commercialisation. Syntopix currently has 24 core families of patents/applications, of which 11 are granted in the UK, and they are all at various stages of application in key international territories.
Following an evaluation agreement with a major consumer healthcare company last year for a synergistic pair of antimicrobials, Syntopix has applied for patent protection. The combination is being evaluated for use in a major consumer healthcare brand.
Last year, Syntopix reported a Phase II ‘proof-of-concept’ clinical study in subjects with acne-prone skin. The company said that these results continue to attract interest, and it is in discussions with several major healthcare companies. The company said it hopes to conclude these discussions in the near future and will announce developments as appropriate.
In addition to Acne treatment, its topical antimicrobials have been attracting considerable interest from other areas of consumer healthcare market, the company said. Other applications for Syntopix antimicrobials include oral healthcare applications and the treatment/prevention of body odour.
To enhance the company’s development as it advances its topical antimicrobials into commercialisation, Syntopix has appointed a new chairman. As announced in February, Tom Bannatyne’s investment experience is expected to provide the company with a stronger City presence and strategic guidance through the new phase of the group's development.
Furthermore, to provide the additional working capital required to progress the commercial opportunities available, Syntopix is finalising plans for an equity fundraising, and it expects to make an announcement in respect of details shortly.
In terms of its development programme, Syntopix is continuing to move its lead compounds from research into clinical development. SYN1113 is the lead candidate for the next human use study in subjects with acneic skin and once development work is complete, the company intends to commence the study in the autumn. Additionally a ‘proof-of-principle’ study is planned for compounds that may be of use in oral care. The compounds for the study are currently being confirmed, and subsequently the study should start over the summer.
Syntopix noted that it continues to work with Procter & Gamble (NYSE: PG), and it is developing good relationships with all of its partner companies.
In the six-months ended 31 January 2010, Syntopix derived sales revenues from commercial deals with pharmaceutical companies. H1 revenues were £104,000, compared to £85,000 in the comparative period in 2008/09. The company narrowed its net loss to £453,000 during the period compared with £577,000 a year earlier.
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