Syntopix Group says that it plans a fundraising this year.
The skin treatments developer had £894,000 in the bank at the end of July 2009. There was a cash outflow from operations of £1.05m during the financial year.
Syntopix has identified two potential treatments for acne and it needs the extra cash to turn these into potential products.
Syntopix has signed a joint development agreement with Procter & Gamble, which wants to use Syntopix’s antimicrobial technology to enhance one of its existing products. There is no news about this collaboration.
Revenues improved from £141,000 to £190,000 in the year to July 2009.
During 2008, Syntopix raised £1.48m at 75p a share.
At 77p a share, Syntopix is valued at £5.98m.
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