Syntropharma offers a new method for administering medicines to treat diseases that affect the central nervous system: transdermal delivery (via skin patches). There are numerous benefits to this form of drug-delivery, with one of the most important being a reduction – and sometimes the complete removal – of side-effects experienced by the patient.
Syntropharma is already generating revenues and is close to self-sustaining. To date, sales have been made in the UK, Netherlands, Denmark and Turkey. Expansion into the wider EU in territories such as France, Germany, Belgium, Spain and Portugal are expected soon.
There are a range of common medical conditions which are poorly controlled by existing treatments. Rather than creating new medicines, the company specialises in the development of the transdermal delivery (via skin patches) ofproven medicines, targeting diseases affecting the central nervous system.
The company has had £90k of sales to date (in the UK, Netherlands, Denmark & Turkey), and revenues are expected to increase significantly in the near term following the licensing of Selsyn – their lead product – in April. Additionally, the company has just arranged a licensing deal which will bring in a predictable royalty revenue stream from 2018. There are several new products in the pipeline.
Syntropharma won the Scottish Business Idea of the Year 2005 and the E&Y Entrepreneur of the year award 2006.