SynCo Bio Partners to Manufacture Syntaxin's SXN101959 Novel Drug for Treatment of Acromegaly

AMSTERDAM, May 11, 2011 - SynCo Bio Partners B.V., one of the leading GMP contract manufacturers of
biopharmaceuticals, announced today that it has signed an agreement with
Syntaxin to produce its novel drug candidate SXN101959. Syntaxin, a
biotechnology company specialising in innovative biopharmaceutical therapies
for cell secretion control, is developing SXN101959 for the therapeutic
treatment of Acromegaly as a primary indication. Under the agreement, SynCo
will assist Syntaxin in scale-up and manufacture of multiple batches of bulk
drug substance and drug product of SXN101959 for non-clinical, phase-I and
phase-II clinical trials.

In Acromegaly, hypersecretion of growth hormone usually occurs from a
benign pituitary tumour. Current first line therapy is the use of
somatostatins, to reduce secretion; however, up to 60% of patients are
refractory to this treatment so there is a significant unmet need for new
products. Syntaxin's Targeted Secretion Inhibitors (TSI) mechanism of action
provides a unique and potentially superior approach to the inhibition of
growth hormone release.

Pierre Warffemius, CEO of SynCo Bio Partners, commented: "SynCo is
pleased to be working with Syntaxin on the manufacture of SXN101959 for the
treatment of Acromegaly. We aim to establish a long-term relationship with
Syntaxin to support its unique TSI platform and expanding product portfolio,
by providing high quality manufacturing and filling services."

Dr Melanie Lee, CEO of Syntaxin, commented: "SynCo's manufacturing
capability provides us with the means to rapidly move SXN101959 through to
phase-I clinical trials in Acromegaly. Progress of SXN101959 towards the
clinic follows a recent announcement that our partnered molecule AGN-214868,
has entered phase-II clinical trials in post-herpetic neuralgia (PHN) as a
primary indication." Dr Lee added, "These molecules demonstrate the enormous
potential of the platform to generate new treatments for a range of diseases.
Aberrant secretion underpins many aspects of cancer, inflammatory, endocrine
and gastro-intestinal diseases."

About SynCo Bio Partners B.V.

SynCo Bio Partners B.V. is a biopharmaceutical GMP Contract Manufacturing
Organization located in Amsterdam, the Netherlands, licensed for clinical and
commercial GMP manufacturing of Bulk Drug Substances and Drug Products. As a
truly global player, SynCo offers a fully integrated range of
biopharmaceutical development and manufacturing services supporting small
biotech to large pharmaceutical organizations worldwide from the earliest
stages in process development, through pre-clinical and clinical trials,
biologic license approval and market supply. For more information, please
visit www.syncobiopartners.com

About Syntaxin

Syntaxin discovers and develops a new class of biopharmaceuticals which
treat disease through selective inhibition of cell secretory processes. It is
developing cell secretion inhibitors for the treatment of a range of
endocrine diseases, including Acromegaly.

Syntaxin was founded in late 2005 through a spinout of intellectual
property and scientists from the Health Protection Agency, and benefits from
15 years of research in the field of bacterial toxin engineering. The company
owns dominant patents and know how in the design, manufacture and use of
novel cell TSI based on engineered botulinum toxins. It has established a
strong IP base with over 50 granted patents covering the platform and
products. It is backed by strong investor base including: Abingworth,
Lundbeckfond Ventures, LSP, Ipsen, JJDC, Quest, Seventure, and SR One.

For further information please contact: SynCo Bio Partners B.V., Richard van Rijnsoever, Director Business Development, Tel: +31-20-8501332, r.rijnsoever at syncobiopartners.com; Syntaxin Ltd, Nigel Clark, Chief Business Officer, Tel: +44(0)1235-552161, Email: nigel.clark at syntaxin.com