Syntopix (LON:SYN), the skin products firm, said this morning it had signed a collaboration deal with an unnamed company that is a “a world leader in marketing home, health and personal care brands”.
“Under the terms of the agreement, we have granted the rights of first refusal to the company to negotiate a separate agreement for further development and eventual commercialisation of a compound that is currently under clinical evaluation,” Syntopix said in a stock exchange announcement.
It will receive payments throughout the clinical phase.
The group is a spin-out of the renowned Skin Research Centre at the University of Leeds.
Formed in 2003, it is based on the research of husband and wife team, Doctors Jon Cove and Anne Eady, both respected microbiologists.
Their academic work focused on the microbiology of skin, antibiotic resistance in skin bacteria and staphylococcus aureus as well as the causes of acne and eczema.
Currently Syntopix is working on products for the consumer healthcare and over-the-counter treatments markets as well carrying out research on prescription medicines for acne and the treatment and control of infections including those due to MRSA.