Annual Reports

Highlights

Phase I study completed in August 2007, validating the group’s methodology for determining the potential of compounds as acne treatments.
Phase II cosmetic study began in June 2007 and will report later this year.
An in vivo study is planned to begin shortly to study the effectiveness of our compounds against the staphylococcus aureus bacterium.
More than 300 compounds from our library have now been shown to exhibit significant antimicrobial activity.
Board of directors and scientific advisory panel strengthened with key appointments.
Careful control of expenditure resulting in cash balances at 31 July 2007 of £1.5 million (2006: £3.2 million).
Significant news flow anticipated during the next twelve months.

Highlights

Successful flotation on AIM in March 2006 via a placing raising £4 million gross.
Significant progress in delivery of Group's strategy using reduced risk and reduced cost business model.
Three lead candidates selected for pre-clinical and formulation studies.
Board and Scientific Advisory Panel strengthened.

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