£2million Placing for Syntopix Group plc
1st April 2010
Zeus Capital is pleased to announce that they recently advised on Syntopix Group plc’s fundraising of £2 million from private and institutional investors.
Zeus Capital has acted as Nominated Adviser and Broker to the Bradford based company which is focused on topical antimicrobial innovations for products in the medicine and consumer healthcare markets since September 2008.
The proceeds of the placing will be used by the Group to undertake further human use studies with its lead compounds, which the Group expects to commence during 2010, as additional working capital to fund the Group’s ongoing research and business development activities and for maintaining and further developing the Company’s intellectual property portfolio.
Since its admission to AIM in March 2006 and the subsequent placing in August 2008, Syntopix has continued to progress its drug development programme in dermatology and to enhance its profile amongst prospective partners. The Group has continued to work on the discovery of compounds and combinations of compounds for use in the treatment of acne, oral hygiene and hair care. Its library of compounds now stands at 2,200 compounds and continues to grow.