REG - SkinBioTherapeutics - Business update

SkinbiotherapeuticsAnnouncement

17/02/2022 07:00

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RNS Number : 9271B  SkinBioTherapeutics PLC  17 February 2022

 SkinBioTherapeutics plc

("SkinBioTherapeutics" or "the Company")

Business update

 

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
(https://www.londonstockexchange.com/news-article/SBTX/directorate-change/15291225)
, 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.

 

-Ends-

For more information please contact:

 SkinBioTherapeutics plc                                 Tel: +44 (0) 161 468 2760

 Stuart J. Ashman, CEO

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

 Giles Balleny, Max Gould (Corporate Finance)

 Michael Johnson, Dale Bellis (Sales)
 Instinctif Partners (financial press)                   Tel: +44 (0) 20 7457 2020

 Melanie Toyne-Sewell / Nathan Billis                    SkinBio@instinctif.com (mailto:SkinBio@instinctif.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 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 was launched on 29 October - World
Psoriasis Day.

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

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