Syntopix to expand into new areas

The company, which was spun out of the University of Leeds and is based in Bradford, plans to start a study this summer into compounds that can be used in oral care.

The group is also in discussions with several major healthcare companies about its latest clinical study into acne.

Syntopix has entered into an evaluation agreement with one company for a major consumer acne brand, which it is in the process of patenting.

The group continues to work with Procter & Gamble and said it is developing a good relationship with all its partner companies.

In the six months to January 31, the group reduced its operating loss from 660,000 to 520,000.

Chief executive Dr Stephen Jones said: "The Group is pleased to report continued progress. 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."

The group said it expects the planned equity fund raising will allow it to progress "a number of exciting opportunities from our pipeline".