Manchester, UK – 21 February 2018 – SkinBioTherapeutics plc (AIM: SBTX or the “Company”) a life sciences company focused on skin health, has announced its half year results for the six months to 31 December 2017.
• Significant progress in developing the SkinBiotix® technology; successful initial lysate manufacture scale-up
• Three different formulation options for the cosmetic application are being assessed ahead of the human study scheduled in Q3 2018
• Anti-infection and eczema programmes progressing - application frequency and safe dosing levels determined
• Early stage commercial discussions with significant industry players continuing with respect to the cosmetic application
• Cash as at period end at £3.6m (2016: £0.4m)
Dr. Cath O’Neill, CEO of SkinBioTherapeutics, said:
“We have made significant progress in the past six months around our SkinBiotix® technology and we are on track with the advancement of all three indications in cosmetics, anti-infection and eczema.
“Our primary focus has been on developing the cosmetic application. Manufacturing scale-up and formulation is progressing to plan. As laid out at IPO, we intend to carry out the human safety study later this year.
“There is a growing awareness of our SkinBiotix® platform technology from the skin healthcare industry, based on the reputation of our team and our ‘science-led’ business approach. With continued work on our technology and the start of human studies in Q3, we are building further value for shareholders and a strong position from which to hold potential commercial discussions.”
The information communicated within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 and has been arranged for release by Doug Quinn, CFO of the Company. Upon the publication of this announcement, this inside information is now considered to be in the public domain.
For the full announcement visit www.skinbiotherapeutics.com
About SkinBioTherapeutics plc
SkinBioTherapeutics is a life science company focused on skin health. The Company’s proprietary platform technology, SkinBiotix®, is based upon discoveries made by CEO Dr. Cath O’Neill and Professor Andrew McBain.
SkinBioTherapeutics’ platform applies research discoveries made on the activities of lysates derived from probiotic bacteria when applied to the skin. The Company has shown that the SkinBiotix® platform can improve the barrier effect of skin models, protect skin models from infection and repair skin models. Proof of principle studies have shown that the SkinBiotix® platform has beneficial attributes applicable to each of these areas.
SkinBioTherapeutics received seed funding from the Tech Transfer office of the University of Manchester for the discovery of SkinBiotix®. The platform was subsequently spun out of the University of Manchester in March 2016 and was funded by OptiBiotix PLC (AIM: OPTI).
The Company joined AIM in April 2017 concurrent with raising £4.5 million from a placing of new ordinary shares.
The Company is based in Manchester, UK. For more information, visit www.skinbiotherapeutics.com
Issued for and on behalf of SkinBio Therapeutics plc by Instinctif Partners.
For more information please contact SkinBio@instinctif.com
Melanie Toyne-SewellManaging Partner