Syntopix hopes for commercial deals
木曜日, 7 1月 2010
Bradford-based drug developer Syntopix Group is looking to continue its progress this year by raising up to £2m in an equity issue to break into the commercial market.
The group is hoping to secure deals with major healthcare companies to drive its research on skin conditions such as acne.
Syntopix, which is already working with consumer product firm Procter & Gamble, reported its pre-tax losses decreased to £1.25m from £1.53m in 2009 compared with the previous year.
The firm is hoping to raise between £1 million and £2 million in the first half of this year from an equity issue and is "excited" about potential deals.
Chief executive Dr Stephen Jones said: "The big guys are taking us seriously and what we are most excited about is the continued business we do with blue chip companies."
Turnover at the AIM listed firm increased by 34.8% to £190,000 from £141,000.
Dr Jones added it was a "year of continued progress" for the company, which has a market capitalisation of £6 million.
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