Syntopix reduces losses

Operating losses at the Bradford-based company, which is a spin-out from Leeds University, fell from 1.29m to 1.11m for the year to the end of July.

New commercial agreements generated revenues worth 151,000 but this was down from 190,000 the previous year.

The company has seen its cash balance rise to 1.74m after a successful share placing raised 2m for the firm which develops chemical compounds used in acne, gingivitis and body odour treatments.

Syntopix develops compounds which combat skin disorders, oral disease and body odour.

Chief executive Stephen Jones said: "Syntopix's ongoing strategy and approach to identifying new antimicrobial compounds places the group in a strong commercial position. The acne, oral hygiene, hair care and deodorant markets are all multi-billion pound global opportunities.

"We have selectively added to our compound library over the year and have expanded our screening programmes to encompass a wider range of potential applications. Our library ensures we are in a strong position to work with the multiple brands and companies competing within each sector to address market demand.

"The group has signed a number of commercial contracts during the period which reflect the value our partners see in our library and clinical studies are currently underway for the most promising compounds."

He added: "The board is confident that these studies will deliver convincing data for existing and potential partners, establishing that Syntopix's compounds have a commercial future in the treatment of dermatological and consumer healthcare conditions."