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SkinBioTherapeutics plc Business update 2022

SkinBioTherapeutics plc Business update 2022

17 February 2022 - SkinBioTherapeutics plc (AIM: SBTX), a life science business focused on skin health, has today provided a business update including an update on the commercialisation progress of AxisBiotix-Ps™.

The Company has completed the ‘soft launch’ phase of its food supplement product, AxisBiotix-Ps™, to relieve the symptoms of psoriasis and is now looking to accelerate the second phase of its roll out in the US and UK. Current activities include strengthening the digital sales team and a multi-media marketing campaign using psoriasis ‘influencers’ to target key audiences.

Progress continues to be made on SkinBiotix® by the Company’s partner, Sederma, the specialist ingredient manufacturer within Croda Plc, with the project running to schedule.

AxisBiotix-Ps™

As previously announced, AxisBiotix-Ps™ was launched to consumers on 29 October without significant marketing spend in the first launch phase. The ‘soft’ nature of the launch has allowed the Company to test the sales and distribution process at low volumes to ensure a continuous and scaleable supply line for customers for the longer term. In addition, it has provided valuable insights into potential e-commerce, regulatory, and logistical issues which can occur when launching a new product into multiple markets.

In February, the Company progressed to the second phase of its 'direct to consumer' commercialisation strategy which centres around a larger-scale multi-media marketing campaign using ‘influencers’ with psoriasis, targeted social media, online advertising and video testimonials, all intended to drive a significant increase in the growth rate of sales. The Company is also expanding its direct sales team to attract consumers including new hires being made in customer services and digital sales. The aim during 2022 is to accelerate product sales in the US and UK, move into specific European countries and establish distributors further afield.

The influencer campaign in 2022 is a core strand to driving consumer sales and is already showing signs of raising the profile of the product with potential users. A number of influencers have been signed up and are starting to use the product.  The engaged and targeted influencers all have psoriasis themselves and the target is to have signed up influencers with a combined following of over 1.4 million people on multiple social media platforms when the programme is fully operational. The aim is that these individuals use and actively promote AxisBiotix-Ps™ on their social media feeds to their respective followers. Social media influencers such as these can have a direct impact on consumers purchasing decisions and are followed closely by the psoriatic community. Since the influencer campaign launched alongside the online advertising programme, the Company has seen a substantial increase in social media referrals.

The initial offer has concluded for early adopters of the product to receive 28 free sachets with their first purchase of AxisBiotix-Ps™ and the Company has now introduced an initial promotional price along with free shipping to support the current marketing programme. As the influencer programme has only recently commenced it will take several weeks to assess its effectiveness and the subsequent conversion of activity to material sales. The board believes that the market expectations of sales of approximately £1.2 million at its year end 30 June 2022 remain achievable. The Company will update the market on the initial impact of the second phase when the Company releases its half year financial results in March 2022.

Croda

Croda and its active ingredient arm, Sederma, continues to progress the development of SkinBiotix® as the foundation for an active skincare ingredient for the cosmetic and skin care industry. Final scale-up to capacity required to mass produce the project is now being progressed and Croda has engaged with VIP clients within its portfolio of 12,000+ global cosmetic customers for its inclusion.

Chief Financial Officer

As previously announced, the Company is searching for a full time CFO to start in Q2 2022 as the role has become increasingly demanding following this period of rapid growth and significant progress. The search for suitable candidates, ideally with listed experience and sector experience relevant to the future direction of the business, is progressing well.

Stuart J. Ashman, CEO of SkinBioTherapeutics, said:

“Having worked through many logistical challenges during the ‘soft launch’ phase of AxisBiotix-Ps™ commercialisation, we are now looking to accelerate the product’s roll-out in the US and UK. We have enlisted a number of high-profile psoriasis ‘influencers’ to use and promote the product as part of a wider multi-media marketing campaign which we believe should generate significant interest in the product. We are also strengthening our digital sales team to drive product sales in the US, UK and further afield into select European countries during 2022.

“Whilst AxisBiotix-Ps™ has been dominating management’s time since the October launch, we are also pleased that the other strand of the business, the SkinBiotix® active ingredient project with Sederma, is on track.  We hope to be able to inform shareholders in due course on the response from Sederma’s VIP clients in the skincare market.”

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.

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Melanie Toyne-SewellManaging Partner