REG - SkinBioTherapeutics - Business progress update

SkinbiotherapeuticsAnnouncement

14/06/2023 17:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20230614:nRSN7505Ca&default-theme=true

RNS Number : 7505C  SkinBioTherapeutics PLC  14 June 2023

SkinBioTherapeutics plc

("SkinBioTherapeutics" or "the Company")

Business update

 

14 June 2023 - SkinBioTherapeutics plc (AIM: SBTX, or the Company), a life
science business focused on skin health, notes the change in the share price,
but is not aware of any rationale for the movement.

 

As noted in the recent SkinBiotix-PS™ and AxisBiotix update
(http://irs.nbtrader.co.uk/ir/SkinBiotix/newsArticle.php?id=31142823113272077&ST=SBTX)
in May 2023, the business continues to make progress across all its pillars.
An updated summary of such activities is described below.

 

SkinBiotix™

As outlined in the Company's May 2023
(http://irs.nbtrader.co.uk/ir/SkinBiotix/newsArticle.php?id=31142823113272077&ST=SBTX)
update, Croda Plc have extended the commercial agreement in order to undertake
additional studies on SkinBiotix™ based on the discovery of significant
additional bacterial activity which are expected to enhance the commercial
opportunity when sales commence in 2024.  The studies are expected to take an
additional three to four months from November 2023 and we will update the
Market on progress as soon as possible.

 

AxisBiotix-PS™

The Company is now selling AxisBiotix-PS™ in the UK and Europe, having
launched in Spain earlier this year.

 

In the UK, the team recently launched a successful 60-day campaign aimed at
Psoriasis sufferers through the Daily Mail newspaper and social media, which
resulted in a record daily order total.

 

New customers are important but also knowing that customers continue to like
and order the product. We are pleased to report that retention rates remain at
80%+ for subscribers of AxisBiotix-PS™, with net subscriber numbers
increasing month on month.

 

Sales of AxisBiotix-PS™ have started to commence in Spain following
regulatory clearance in March 2023. In other European countries, we anticipate
clearance to launch in Italy later this month followed by France in Q3 2023.

 

Discussions with potential multinational partners are on-going and our current
activities underpin these discussions. As noted before, due to the complex
nature of the science, partnering discussions can take time and difficult to
predict.

 

MediBiotix™

The MediBiotix Pillar is focusing on applying SkinBiotix technology in topical
medical device applications, looking at accelerated wound closure and barrier
enhancement around a wound.

 

The introduction of bacterial elements into open wounds or around an infected
wound is significantly complex in medical regulatory terms as well as
scientific execution. Discussions continue with multinational companies in the
wound care space, but again, due to the complexity of the subject matter, the
outcome or timing of such a deal is always difficult to predict.

 

Other research programmes

The two programmes underway at the University of Manchester are focused on
inflammation in skin health and skin disease, and in oral health and
wellbeing. They are progressing well and are on track.

 

Acquisition opportunities

At  Half Year results
(http://irs.nbtrader.co.uk/ir/SkinBiotix/newsArticle.php?id=311428231521450453&ST=SBTX)
, the Company disclosed that it was investigating inorganic opportunities that
could provide synergies and accelerated routes to market. This work is
continuing. One opportunity is progressing through diligence but has not yet
been completed.

 

The Management are carrying out much of the work internally based on the
significant amount of experience in-house, and are focused on keeping costs
related to legal, financial or tax due diligence to an absolute minimum. The
team is also taking a cautious approach to any acquisition; they are committed
to ensuring acquisitions do not exceed market price and that all diligence
items are properly reviewed.

 

Stuart J. Ashman, CEO of SkinBioTherapeutics, said:

"Since our last announcement in May, the team has been extremely busy across
all pillars, driving both commercial and development programmes forward. Our
partnership with Croda is also moving forward, and it is extremely positive
that they wish to explore the additional properties in SkinBiotix™. The
response to Axis-Biotix-PS™ following the marketing push in May plus the
>80% retention rate, continues to build sales and awareness. We have a
number of news events expected through to the end of the year which we will
share with shareholders as soon as we can."

 

-Ends-

The information communicated in this announcement contains inside information
for the purposes of Article 7 of the Market Abuse Regulation (EU) No.
596/2014.

 

For more information please contact:

 SkinBioTherapeutics plc                                 Tel: +44 (0) 191 495 7325

 Stuart J. Ashman, CEO

 Manprit Randhawa, CFO

 Cenkos Securities Plc (Nominated Adviser & Broker)      Tel: +44 (0) 20 7397 8900

 Giles Balleny, Max Gould (Corporate Finance)

 Dale Bellis, Tamar Cranford-Smith (Sales)

 Instinctif Partners (financial press)                   Tel: +44 (0) 20 7457 2020

 Melanie Toyne-Sewell / Tim Field / Adam Loudon          SkinBioT (mailto:SkinBio@instinctif.com) herapeutics @instinctif.com
                                                         (mailto:SkinBio@instinctif.com)

Notes to Editors

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 Professor Catherine O'Neill and Professor Andrew McBain.

The Company is targeting a number of skin healthcare sectors, the most
advanced of which are cosmetic skincare and food supplements to modulate the
immune system by harnessing the gut-skin axis. In each area
SkinBioTherapeutics plans to exemplify its technology through human studies.
The Company's first product, AxisBiotix-Ps™, a food supplement to address
the symptoms of mild to moderate psoriasis.

The Company listed on AIM in April 2017 and is based in Newcastle, UK.  For
more information, visit: www.skinbiotix.com (http://www.skinbiotix.com/) and
www.axisbiotix.com.

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  UPDFLFSEREISLIV