Evocutis gears up for long-term growth

Wetherby-based Evocutis, which focuses on advanced laboratory and clinical evaluations of skincare products for the health and cosmetic markets, acquired independent commercial testing facility Leeds Skin earlier this year. It was then known as Syntopix Group, which was founded in 2003 as a spin-out from the Skin Research Centre at the University of Leeds.

In the year ended July 31, commercial deal revenues increased by more than 50 per cent to £230,000. The company delivered a full year operating loss of £1.219m, which was an increase on the £1.106m recorded the year before. The loss per share reduced to 0.90p, from 1.14p the year before.

Dr Stephen Jones, the company’s chief executive, said: “This year has been transformational for the business. The company increased revenues, progressed the product pipeline, and formed a new collaboration with the specialty pharma group, Sinclair IS Pharma.

“Additionally, the company acquired Leeds Skin, which brings into the business a unique skincare model for the testing and development of new dermatology products. Since the year end close, Leeds Skin has been integrated into the business, and the group has changed its name to Evocutis.

“The group enters the year with a cash balance of £2.32m and is well positioned for sustainable growth.

“The technology acquired with the Leeds Skin business provides us with immediate revenue streams, and in the longer term potential product sales and/or licensing deals particularly in the fields of acne and dry skin, offering the prospect of excellent long-term growth.”