Re Syntopix Group IPO

IP2IPO Group PLC
27 February 2006


For immediate release                                           27 February 2006

  SYNTOPIX GROUP PLC ANNOUNCES ITS INTENTION TO FLOAT ON THE AIM MARKET OF THE
                             LONDON STOCK EXCHANGE

IP2IPO Group plc (AIM: IPO) ('IP2IPO'), the intellectual property 
commercialisation company, is pleased to announce that Syntopix Group plc 
('Syntopix'), a drug discovery and development company focused on dermatological
diseases and a spin-out from University of Leeds, has today announced its 
intention to float on the AiM market of the London Stock Exchange plc by way 
of a Placing.  Prior to the Placing IP2IPO holds a 23.5% equity stake in 
Syntopix.

The press release issued today by Syntopix follows:

For immediate release                                          27 February 2006

                               SYNTOPIX GROUP PLC

                         ('Syntopix' or 'the Company')

       Intention to float on the AIM market of the London Stock Exchange

Syntopix Group plc, a drug discovery and development company focussed on
dermatological diseases, today announces its intention to join the AIM market of
the London Stock Exchange by way of a Placing.

Highlights:

   • Syntopix was formed in 2003 as a spin-out from the University of Leeds
     to commercialise the innovative research of the Company's two scientific
     founders, Dr Jon Cove and Dr Anne Eady, into antibiotic resistance and
     diseases of the skin.

   • The Company has a highly experienced scientific, commercial and
     non-executive team who between them have a proven track record of
     developing pharmaceutical products and technology and have links with
     large pharmaceutical companies.

   • The Company's Chairman is Gwyn Humphreys, a founder and chief
     executive of Bradford Particle Design, one of the UK's most
     successful spin-out companies sold for $200 million in January 2001
     to Inhale Therapeutic Systems Inc. Syntopix' Chief Executive Officer
     is Rod Adams, who has extensive experience in running and building
     healthcare companies, particularly in the field of dermatology.

   • Syntopix has a growing patent portfolio and a pipeline of
     nine drug candidates awaiting preclinical and clinical trials in
     acne and MRSA. The Company's novel approach involves the
     screening of a focussed library of compounds of known toxicity
     from which compounds are selected in combination as drug
     candidates or in which new indications are identified for
     existing drug compounds.

   • The Company believes that the dermatology market, which
     has global annual sales of more than $10 billion and clear
     evidence of unmet medical need, has suffered a lack of
     product innovation and many existing products suffer
     significant side effects. Syntopix' strategy seeks to reduce
     the cost and risk of successfully discovering and developing
     dermatology drugs by concentrating on change of use and
     combinations of known compounds.

   • The Company is seeking to raise approximately £6 million in a Placing of 
     shares to institutional investors and the proceeds will be used to finance 
     the Company's drug development programmes. Its shares are expected to 
     begin trading on AIM in March 2006.

   • KBC Peel Hunt Ltd is the Company's Nominated Adviser and Broker.


Commenting on the proposed flotation, Rod Adams, Syntopix' Chief Executive
Officer, said: 'Our innovative strategy has delivered drug candidates that have
the potential to address unmet medical need in the dermatology market. Flotation
on AIM will transform the development of the Company, allowing us to commence
preclinical and clinical trials and thereby build value for shareholders.'

For further information about Syntopix please contact:

Syntopix Group plc                                          0845 1259204

Gwyn Humphreys, Chairman
Rod Adams, Chief Executive Officer
www.syntopix.com

KBC Peel Hunt Ltd                                           020 7418 8900
Megan McIntyre

Buchanan Communications                                     020 7466 5000
Mark Court, Tim Anderson, Mary-Jane Johnson

Notes to editors

About Syntopix Group plc

Syntopix, a company focussed on the discovery and development of drugs for the
topical treatment of dermatological diseases, was founded in 2003 as a spin-out
from the University of Leeds by Dr Jon Cove and Dr Anne Eady, two of the leading
experts in skin microbiology, with initial funding from the Wellcome Trust.

Syntopix' strategy is to seek to reduce the risks and costs of drug discovery
and development by discovering novel uses for known compounds; by concentrating
on compounds and combinations of compounds that have a history of safe use; and
working with compounds that have known properties, for example antimicrobials
and anti-inflammatories. The Company currently has seven pending UK patent
applications.

Syntopix is currently focussed on acne and Staphylococcus aureus infections and
has identified a pipeline of lead drug candidates that it intends to take
through pre-clinical and, as appropriate, clinical trials. The Company intends
to out-license products to commercial partners on obtaining proof of principle
and to seek co-development partnerships.

The Company is based at the Institute of Pharmaceutical Innovation in Bradford,
giving access to the expertise in skin biology, formulation and toxicology at
the universities of Bradford and Leeds.

Syntopix' shareholders include Techtran Group Ltd, a subsidiary of IP2IPO Group
plc, the Wellcome Trust Ltd, the University of Leeds, White Rose Technology Ltd
and Ridings Early Growth Investment Company Ltd.

For further information please visit www.syntopix.com.


For more information about IP2IPO please contact:

IP2IPO                                                      020 7489 5200
Alan Aubrey, Chief Executive Officer

Buchanan Communications                                     020 7466 5000
Tim Anderson, Mark Court, Mary-Jane Johnson

Notes for editors:

About IP2IPO
IP2IPO is an intellectual property (IP) company that specialises in
commercialising university technology. The Company was founded in 2001 and
listed on the AIM Market of the London Stock Exchange plc in October 2003.
IP2IPO's first partnership was with the University of Oxford. In return for an
investment of £20 million, IP2IPO has acquired 50 per cent of the University of
Oxford's equity in spin-out companies and technology licenses based on
intellectual property created at the Chemistry Department until 2015. In
November 2003, IP2IPO created a £5 million seed capital fund for investing in
spin-out companies across the University of Oxford, not just those originating
within the Chemistry Department.

In March 2002, IP2IPO entered into a second long-term partnership with the
University of Southampton. Under the terms of this partnership, IP2IPO is
committed to working with the University of Southampton in the identification
and facilitation of spin-out companies from across the University of Southampton
and to investing £5 million in early-stage University of Southampton spin-out
companies over a four year period in return for equity stakes in those
companies. In addition, IP2IPO also received a 20 per cent stake in Southampton
Asset Management Limited, a company that has been formed to hold the
University's equity stakes in its spin-out companies. The partnership has a term
of at least 25 years.

IP2IPO entered into its third long-term partnership in May 2003 with King's
College London. IP2IPO works with King's College London to help identify and
progress commercialisation opportunities as well as invest £5 million in seed
capital in spin-out companies from King's College London over a five year period
in return for equity stakes in those companies. In addition, IP2IPO receives 20
per cent of King's College London's equity in spin-out companies and technology
licenses. The partnership has a term of 25 years.

In October 2003, IP2IPO announced a fourth partnership with the Centre for Novel
Agricultural Products ('CNAP'), based at the University of York. CNAP is a
flagship research centre that specialises in plant and microbial gene discovery.
Under the terms of the partnership a new company, Amaethon Limited, has been
created which has the right to commercialise CNAP's IP for 25 years. IP2IPO has
invested £1.15m in Amaethon Limited in return for a 40 per cent. equity stake in
Amaethon Limited (the remaining equity being owned by the University of York)
and will also invest in the spin-out companies based on CNAP's IP which Amaethon
Limited creates.

In June 2004, IP2IPO acquired Top Technology Ventures Limited, an investment
adviser to early stage technology funds. This combines IP2IPO's expertise in the
creation of new ventures based on world leading university IP with Top
Technology's focus on making early stage venture capital investments.

In January 2005, IP2IPO acquired Techtran, a company set up in 2002 to
commercialise university intellectual property under a long-term technology
commercialisation contract with the University of Leeds. Under the terms of the
contract Techtran receives a significant (30 per cent.) interest in spin-out
companies created and technology licences negotiated, in return for the
provision of technology transfer services to the University.

In May 2005, IP2IPO announced the launch of LifeUK, a new subsidiary company.
LifeUK, which has since been renamed Modern Biosciences, will in-license life
science intellectual property created by medical researchers at universities
with which IP2IPO already has partnerships, other universities in the UK and
similar academic and charitable research institutions. Modern Biosciences'
objective is to further develop the intellectual property which it in-licenses
with a view to creating substantial value either by subsequently licensing these
development programmes to the pharmaceutical industry or via the creation of new
ventures.

In December 2005, IP2IPO entered into its sixth long-term partnership with the
University of Bristol. IP2IPO will work with the University of Bristol to help
identify and progress commercialisation opportunities as well as invest an
initial £5 million in seed capital in spin-out companies from the University of
Bristol over a five year period in return for equity stakes in those companies.
In return, IP2IPO will receive 13.3 per cent of equity spin-out companies from
the University of Bristol at the time that the spin-out company is established
prior to investment. The partnership has a term of 25 years.

In February 2006 IP2IPO announced that it had entered into an exclusive
long-term partnership with the University of Surrey. Under the terms of the
partnership, IP2IPO has agreed to work with the University of Surrey to identify
and facilitate the formation of spin-out companies from across the University
and to invest an initial fund of up to £5 million in such companies in return
for equity stakes in them. In addition, IP2IPO will receive 13.3% of the equity
in spin-out companies from the University at the time that the company is
established prior to investment. The partnership has a term of 25 years.

To date, 5 spin-out companies from the IP2IPO portfolio have listed on the AIM
Market of London Stock Exchange plc: Offshore Hydrocarbon Mapping plc, Synairgen
plc, VASTox plc, Proximagen Neuroscience plc and GETECH Group plc. There has
been one trade sale: Toumaz Technology Limited was sold to Nanoscience Inc.




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