Syntaxin Announces its Partner Allergan Enters Phase II Trials With Re-Targeted Endopeptidase Drug

Targeted Secretion Inhibitors (TSI) Technology Platform Validated

OXFORD, England, March 2, 2011 - Syntaxin, a biotechnology company developing novel
biopharmaceuticals to control cell secretion, today announces its partner
Allergan, Inc has initiated two Phase II trials to evaluate the safety and
efficacy of its re-targeted endopeptidase drug candidate AGN-214868. The
Phase II trials will be focused on patients with post herpetic neuralgia
(PHN) and overactive bladder. With the initiation of Phase II trials,
Syntaxin's drug technology platform reached a significant point of
development and triggered an undisclosed milestone payment. Allergan provided
an update in its Q4 2010 earnings call on 2nd February 2011.

AGN-214868 was discovered under the collaboration using
Syntaxin's proprietary discovery platform. Under this agreement, Allergan is
responsible for the clinical development, marketing and sales of identified
drug candidates. Syntaxin receives milestone payments and royalties on
product sales.

Dr Melanie Lee, CEO of Syntaxin, commented: "The progression
of AGN-214868 into Phase II trials is a very important milestone for Syntaxin
and validates the strength of our technology platform. The additional
therapeutic application of AGN-214868 for overactive bladder widens the
application of the re-targeted endopeptidase drug candidate across two
distinctively separate disease markets of significant unmet medical need. The
versatility of our Targeted Secretion Inhibitors (TSI) platform has enabled
Syntaxin to develop exciting proprietary pre-clinical candidates outside
pain, in areas such as endocrinology and oncology. This provides Syntaxin
with a strong foundation to develop additional value from future partnerships
with other pharmaceutical and biotechnology companies."

Notes for Editors

About Syntaxin (www.syntaxin.com)

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's new Executive Management, appointed in February
2010, brings a wealth of industry experience to the Company. Chief Executive
Officer, Dr Melanie Lee, spent a decade in research with GlaxoSmithKline and
subsequently held leadership positions at Celltech and UCB. Chief Business
Officer, Dr Nigel Clark, was formerly Vice President Business Development
with Vernalis and has a strong track record in building strategic alliances.
Dr Jon Court, Chief Development Officer, was previously founder and CEO of
Fulcrum Pharma, an international contract drug development business,
following R&D roles at Roche and Wellcome.

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 40 granted patents covering the
platform and products. It is backed by a blue chip investor base including:
Abingworth, Lundbeckfond Ventures, LSP, Ipsen, JJDC, Quest, Seventure, and SR
One.

Syntaxin's Targeted Secretion Inhibitors (TSI) technology
platform

Syntaxin's TSI products are biological molecules synthesized
in microbial cell culture, which selectively bind to their chosen targeted
cells and become internalised to deliver endopeptidases into the cell's
cytoplasm, preventing further vesicular secretion. A single dose provides an
extended duration of action from weeks to months.

Allergan Forward-Looking Statements

This press release contains "forward-looking statements,"
including, but not limited to, the statements by Dr Melanie Lee and other
statements regarding clinical development, marketing and sales of Allergan's
Re-Targeted Endopeptidase Drug candidate AGN-214868. These statements are
based on current expectations of future events. If underlying assumptions
prove inaccurate or unknown risks or uncertainties materialize, actual
results could vary materially from Allergan's expectations and projections.
Risks and uncertainties include, among other things, general industry and
pharmaceutical market conditions; technological advances and patents attained
by competitors; challenges inherent in the research and development and
regulatory processes; challenges related to product marketing, such as the
unpredictability of market acceptance for new products and/or the acceptance
of new indications for such products; inconsistency of treatment results
among patients; general economic conditions; and governmental laws and
regulations affecting domestic and foreign operations. Allergan expressly
disclaims any intent or obligation to update these forward-looking statements
except as required by law. Additional information concerning the
above-referenced risk factors and other risk factors can be found in
Allergan's public periodic filings with the Securities and Exchange
Commission, including the discussion under the heading "Risk Factors" in
Allergan's 20010 Annual Report on Form 10-K. Additional information about
Allergan is available at www.allergan.com or you can contact the
Allergan Investor Relations Department by calling +1-714-246-4636.

    Contact Details

    Syntaxin Ltd
    Nigel Clark
    Tel: +44(0)1235-552161
    Email: nigel.clark@syntaxin.com

    Media

    Capital MS&L
    Mary Clark, Justine Lamond & Hollie Vile
    Tel: +44-(0)20-7307-5337
    Email: Syntaxin@capitalmsl.com

Contact Details: Syntaxin Ltd, Nigel Clark, Tel: +44(0)1235-552161, Email: nigel.clark at syntaxin.com . Media: Capital MS&L, Mary Clark, Justine Lamond & Hollie Vile, Tel: +44-(0)20-7307-5337, Email: Syntaxin at capitalmsl.com .