Acne specialist Syntopix Group says more joint ventures are in the pipeline after agreeing a deal to develop antibacterial technology with consumer goods giant Procter & Gamble.
The Leeds University spin-out, now based at Bradford University's Institute of Pharmaceutical Innovation, yesterday announ-ced a joint agreement where Procter & Gamble will use Syntopix's antimicrobial technology in its over-the-counter and prescrip
tion products.
Procter & Gamble is behind household names including Pampers and Head and Shoulders.
Syntopix chief executive Dr Stephen Jones said: "I am delighted Syntopix has entered into this joint development agreement with Procter & Gamble, the world's largest consumer goods company.
"Procter & Gamble are sharing some of their technology with us that we are going to apply at our laboratories. Between the two companies we hope to come up with some promising lines for Procter & Gamble. We are looking at it as an opportunity to add value to both existing products as well as new ones.
"We believe that Syntopix's 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."
Syntopix, which is listed on the Alternative Investment Market (AIM) of the London Stock Exchange, was founded in 2003 by husband-and-wife team Dr Jon Cove and Dr Anne Eady, two of the leading experts in skin microbiology, with initial funding from The Wellcome Trust.
Syntopix concentrates on treatments for acne and prevention and treatment of superbug MRSA and employs 13 staff. It is also using its research on skin diseases to investigate other areas of healthcare, including wound therapy.
In December it agreed a similar deal with an unnamed oral healthcare firm to share technology. "Within six months we have had joint development agreements with two of the world's major healthcare companies, so we are very pleased," said Dr Jones. "It bodes well for the quality of the original research. The interest being expressed in the company is by virtue of the fact that the research has been done over 20 years."
The group is also in discussions with another healthcare firm with a view to further joint agreements or licensing of its technology.
Dr Jones said: "We are certainly opening discussions with another major consumer healthcare company. It's early days but we have high hopes. We are estimating 2010 for profitability."
No details were released as to the value of the deal, which took six months to finalise.
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