Syntopix Admission to AIM

IP2IPO Group PLC
23 March 2006




For immediate release                                              23 March 2006

                                IP2IPO GROUP PLC


                     SYNTOPIX GROUP PLC SUCCESSFUL PLACING
                              AND ADMISSION TO AIM



IP2IPO Group plc (AIM: IPO) ('IP2IPO'), the intellectual property
commercialisation company, is pleased to note that today is the first day of
trading on AIM of ordinary shares of 10p each ('Ordinary Shares') in Syntopix
Group plc ('Syntopix'), (AIM: SYN) a spin-out company from The University of
Leeds focused on dermatological diseases.



Syntopix raised £4.0 million (before expenses) at a placing price of 177p per
Ordinary Share (the 'Placing Price') and its market capitalisation, on admission
to AIM at the Placing Price, was £10.1 million.



Following the placing IP2IPO, through its subsidiary Techtran Group Limited,
owns 920,855 Ordinary Shares in Syntopix (worth £1.6 million at the Placing
price), representing 16.2% of the Syntopix enlarged share capital.



For further information about IP2IPO or Syntopix please contact:


IP2IPO                                                             020 7489 5200
Alan Aubrey, Chief Executive Officer


Syntopix Group plc                                                  0845 1259204
Gwyn Humphreys, Chairman
Rod Adams, Chief Executive Officer

KBC Peel Hunt Ltd                                                  020 7418 8900
Megan MacIntyre

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





The announcement issued by Syntopix Group plc today follows:



                               SYNTOPIX GROUP PLC
                         ('Syntopix' or 'the Company')


                   FIRST DAY OF DEALINGS ON THE AIM MARKET OF
                           THE LONDON STOCK EXCHANGE



Syntopix Group plc, (AIM: SYN) a drug discovery and development company focused
on dermatological diseases, announces its flotation on the AIM market of the
London Stock Exchange today.



Highlights of the Placing:



•        £4.0 million (£3.3 million net of expenses) has been raised for
Syntopix via a placing at 177 pence per share



•        On admission the market capitalisation of Syntopix at the placing price
 will be £10.1 million



•        The proceeds of the placing will be used to finance the Company's drug
development programmes in dermatology



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



Business Highlights:



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



•        Syntopix has a growing patent portfolio and a pipeline of nine drug
candidates awaiting preclinical and clinical trials in acne and MRSA.



•        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 Dr Gwyn Humphreys, a founder and chief
executive of Bradford Particle Design Limited, 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.



•        The Company believes that the market for dermatological products, 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 there are many
limitations identified in some of the leading products. 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.



Commenting on the flotation, Rod Adams, Syntopix' Chief Executive Officer, said:
'I am delighted by the response to the Syntopix flotation.  Commencing life as a
public company is extremely exciting for us and we look forward to progressing
our drug development programmes in dermatology and to generating value for our
shareholders.'




                                          PLACING STATISTICS
Placing Price                                                                      177 pence
Number of Placing Shares                                                           2,259,887
Number of Non EIS Shares and Non VCT Shares                                        1,785,307
Number of EIS Shares and VCT Shares*                                               474,580
Number of Ordinary Shares in issue on Admission                                    5,683,981
Market capitalisation of the Company at the Placing Price on Admission             £10.1 million
Placing Shares as a percentage of the Enlarged Issued Share Capital                39.8 per cent.
Gross proceeds of the Placing receivable by the Company                            £4.0 million
Net proceeds of the Placing receivable by the Company                              £3.3 million




*Application has been made for admission of 474,580 Ordinary Shares in respect
of the EIS Shares and the VCT Shares. Dealings are expected to commence in these
Ordinary Shares on 24 March 2006.





For further information about IP2IPO or Syntopix please contact:


IP2IPO                                                                       020 7489 5200

Alan Aubrey, Chief Executive Officer



Syntopix Group plc                                                           0845 1259204

Gwyn Humphreys, Chairman

Rod Adams, Chief Executive Officer

KBC Peel Hunt Ltd                                                            020 7418 8900

Megan McIntyre

Buchanan Communications                                                      020 7466 5000

Tim Anderson, Mark Court, Mary-Jane Johnson



Notes for 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 Limited, a subsidiary of IP2IPO
Group plc, The Wellcome Trust Limited, University of Leeds Limited, White Rose
Technology Ltd and Ridings Early Growth Investment Company Limited.



For further information please visit www.syntopix.com.





About IP2IPO Group plc



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 Modern Biosciences, which 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 entered into its seventh long-term partnership with the
University of Surrey. IP2IPO will work with the University of Surrey to help
identify and progress commercialisation opportunities as well as invest an
initial fund of up to £5 million in seed capital in spin-out companies from the
University of Surrey in return for equity stakes in those companies. In
addition, IP2IPO will receive 13.3% per cent of in spin-out companies at the
time that the company is established prior to investment. The partnership has a
term of 25 years.



In March 2006, IP2IPO entered into an exclusive long-term partnership with the
University of York. The partnership is in addition to IP2IPO's current
partnership with the Centre for Novel Agricultural Products,  IP2IPO will work
with the University of York to help identify and progress commercialisation
opportunities as well as invest an initial fund of £5 million in seed capital in
spin-out companies from the University of York in return for equity stakes in
those companies. In addition, IP2IPO will receive 25% of the equity in any
spin-out company from the University at the time that the company is
established, prior to investment, if IP2IPO invests in the company from the fund
and 15% of the equity if it does not invest from the Fund. IP2IPO will also
receive 10% of any income which the University of York receives from licencing
during the lifetime of the partnership.  The partnership has a term of 25 years.



To date, 6 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, GETECH Group plc and Syntopix
Group plc. There has been one trade sale: Toumaz Technology Limited was sold to
Nanoscience Inc.


                      This information is provided by RNS
            The company news service from the London Stock Exchange