Syn2bio publishes its first periodic report

Syn2bio SA, which debuted on the Warsaw Stock Exchange in mid-April, has published its first periodic report. At the end of March 2026 the company held PLN 25.5 million in its accounts. This amount will ensure financing of the company’s flagship project—research on the SYN2 cardiotracer—for about 12–14 months. In line with its plans, at this stage of development Syn2bio is not yet generating operating revenue.

The published report covers the first half of the 2025 financial year, i.e. from 1 October 2025 through 31 March 2026. The main event during this period was finalization of the division of Synektik SA, as a result of which an organized part of the enterprise was spun off to Syn2bio, including the cardiotracer—an innovative radiopharmaceutical for diagnosis of heart disease—as well as the Centre for Research on New Compounds, a unit involved in the search, study, registration and marketing of new pharmaceutical compounds.

Because the division of Synektik was finalized on 27 March 2026, for most of the period covered by the report Syn2bio de facto did not yet conduct operating activity. During the period in question the company did not generate any sales revenue, and in line with the adopted projections it will not generate sales revenue until the SYN2 cardiotracer is commercialized.

During the first half of FY 2025 the company incurred costs mainly connected with lease of its office and current administrative expenses and fees. Syn2bio’s total operating costs during the period amounted to almost PLN 144,000.

The costs of the development work connected with the cardiotracer project were included in the half-year report of Synektik, from which the project was spun off. During the period of 1 October  2025 – 31 March 2026, these expenses came to about PLN 15.2 million, as compared to about PLN 9.4 million during the same period in the preceding financial year. The increase in costs was mainly due to the phase 3 clinical trials conducted in Europe, and the transfer of technology to the United States in preparation for launching research on that market.

The main business of Syn2bio is the continued development and commercialization of the SYN2 cardiotracer, and in the future also seeking innovative new pharmaceutical compounds. The SYN2 cardiotracer is a radiopharmaceutical for diagnosis of heart disease, which in the company’s opinion has global sales potential. As a result of the division, Syn2bio acquired from Synektik the exclusive rights to manufacture and sell the cardiotracer throughout the world. The product is covered by patent protection on key markets, including Europe and Japan, and the process of obtaining patent protection in the US is underway. Synektik successfully completed phase 1 and phase 2 clinical trials; the project is currently at the stage of advanced phase 3 trials. Positive completion of this phase will allow for commencement of the registration process in Europe and the United States.

Syn2bio was furnished by Synektik with funds ensuring continuation of the clinical trials for 12–14 months following the division. The total amount of financing secured by Synektik—starting from the date of the valuation of the companies for the purpose of the division, i.e. 30 June 2025—was PLN 50 million, of which PLN 25.5 million were funds provided to Syn2bio at the time of the division on 27 March 2026. Syn2bio will also be able to apply for grants, subsidies and funds from programmes supporting R&D work by SMEs, which were not available to Synektik as a large enterprise.

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Kontakt:

NBS Communications
e-mail: syn2bio@nbs.com.pl
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Krzysztof Woch | + 48 516 173 691
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