The Extraordinary General Meeting of Synektik has unanimously approved the division of the listed company, under which its business related to research on a cardiac tracer and the future commercialization of this innovative radiopharmaceutical for heart disease diagnostics will be transferred to Syn2bio—a new entity that will also be listed on the Warsaw Stock Exchange (WSE).
“The decisions taken by the shareholders of both Synektik and Syn2bio at their general meetings approving the split mean that we are now in the final stage of separating the cardiac tracer project into a standalone company. We are pleased that the concept of the division received broad support from shareholders participating in the Extraordinary General Meeting of Synektik—the resolution was adopted unanimously. What remains is the formal registration of the split by the court. If this proceeds according to schedule, Syn2bio is expected to debut on the Warsaw Stock Exchange around April 16,” said Cezary Kozanecki, founder and CEO of Synektik and CEO of Syn2bio.
Mutual benefits from the split
The core activity of Syn2bio will be the continued development of the cardiac tracer project and its commercialization, as well as the future search for new innovative pharmaceutical molecules.
The SYN2 cardiac tracer is an innovative radiopharmaceutical for diagnosing coronary artery disease, with global sales potential. As part of the split, Syn2bio will acquire exclusive rights from Synektik to manufacture and sell the tracer worldwide. The product is protected by patents in key markets, including Europe and Japan, and is currently undergoing the patent application process in the United States. Synektik has successfully completed Phase I and Phase II clinical trials and is now at an advanced stage of Phase III—the final phase. A successful outcome will enable the start of the regulatory approval process in Europe and the United States, which is necessary for market entry.
Syn2bio’s primary future revenue streams are expected to come from partnership agreements, such as licensing the production of the cardiac tracer to third parties in regions including Western Europe and the United States, or from its own production of the radiopharmaceutical. According to the company, the greatest commercialization potential lies in the United States, where approximately 7 million myocardial perfusion scans are performed annually. Europe represents the second most promising market.
Synektik will provide Syn2bio with sufficient funding to continue clinical trials for the next 12–14 months following the split. The total funding committed by Synektik amounts to PLN 50 million (based on company valuations as of June 30, 2025). Additionally, Syn2bio will be eligible to apply for grants, subsidies, and R&D funding programs dedicated to SMEs—resources that are currently unavailable to Synektik due to its status as a large enterprise.
In addition to external funding, Syn2bio—focused on developing the cardiac tracer project and identifying new pharmaceutical molecules—will find it easier to attract investors, including industry-specific investors, who are willing to accept a higher level of risk in exchange for potentially higher returns.
Synektik to continue core operations
The remaining operations currently conducted by Synektik will stay within the existing company. It will continue to focus on the distribution and servicing of innovative medical devices, the development of proprietary IT solutions, the production and sale of radiopharmaceuticals, and research and development related to generic versions of existing radiopharmaceutical products that do not require lengthy clinical trials.
Synektik is currently a mature and highly profitable company, with strong potential for further steady growth in sales and earnings. Following the completion of the split, Synektik’s financial results will no longer include the costs associated with the cardiac tracer project—which in recent years amounted to approximately PLN 20–30 million annually. This is expected to improve profitability and increase the company’s dividend potential.
Distribution of Syn2bio shares to Synektik shareholders
On March 12, the Polish Financial Supervision Authority (KNF) approved Syn2bio’s prospectus. It was prepared in connection with the issuance of new shares that will be distributed to Synektik shareholders through a public offering.
The allocation will be conducted on a 1:1 basis—meaning that for every one Synektik share held on the record date, an investor will receive one Syn2bio share. This process will take place automatically, without requiring any additional action from shareholders. A total of 8,529,129 Syn2bio shares will be issued, corresponding to the current number of Synektik shares.
The company intends to set the record date for April 7. Under this scenario, the trading session on April 1 (i.e., two trading days before the record date) will be the last opportunity to purchase Synektik shares that qualify for participation in the spin-off. At the same time, the reference price for the next trading session (April 2) will be reduced by the value of the business transferred to Syn2bio—approximately 7.73% (based on the valuation prepared for the division plan as of June 30, 2025). This value will also serve as the reference price for Syn2bio’s first trading session on the WSE.
According to the adopted schedule, Syn2bio is expected to make its stock exchange debut around April 16.
Planned timeline of the Synektik split and Syn2bio IPO
- March 24, 2026 – Conditional resolution by the WSE regarding the admission of Syn2bio shares to trading on the regulated market (subject to completion of the split)
- March 30, 2026 – Registration in the National Court Register (KRS) of the share capital increase of Syn2bio related to the split (spin-off date)
- April 1, 2026 – Last trading day to acquire Synektik shares eligible for Syn2bio share allocation
- April 7, 2026 – Record date
- April 10, 2026 – WSE resolution on the introduction of Syn2bio shares to trading on the regulated market
- April 16, 2026 – First day of trading of Syn2bio shares on the WSE
