REG - SkinBioTherapeutics - Completion of Acquisition of Dermatonics

SkinbiotherapeuticsAnnouncement

26/01/2024 07:00

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RNS Number : 9797A  SkinBioTherapeutics PLC  26 January 2024

 

 SkinBioTherapeutics plc

("SkinBioTherapeutics" or "the Company")

Completion of Acquisition of Dermatonics Limited

 

 

26 January 2024 - SkinBioTherapeutics plc (AIM: SBTX, or the "Company"), the
life science business focused on skin health, announces that it has completed
the acquisition of the issued share capital of Dermatonics Limited, a
specialist in innovative topical and dermatological products in the
skincare/woundcare space.

The initial consideration is £1.68 million plus £1.25 million earn-out over
three years, in a cash-free and debt-free acquisition. Clearance of funds have
now been drawn down from the convertible bond facility announced yesterday for
the acquisition.

 

Stuart Ashman, CEO of SkinBioTherapeutics, said:

"We are delighted to have completed the transaction with Dermatonics. As we
said in the announcement yesterday, this acquisition aligns directly with the
inorganic growth strategy we outlined in our FY results last year. This is an
accretive deal that provides immediate benefits through synergies and
accelerated routes to market. Our focus now is to integrate the two businesses
and build value for our shareholders."

 

-Ends-

 

Reminder of Shareholder presentation and Q&A

CEO, Stuart Ashman, and CFO, Manprit Randhawa, will provide a live
presentation about the terms and rationale of the acquisition of Dermatonics
and the financing details via the Investor Meet platform on Friday 26 January
at 10:00 am GMT.

The presentation is open to all existing and potential shareholders. Questions
can be submitted pre-event via your Investor Meet Company dashboard at any
time during the live presentation.

Investors can sign up to Investor Meet Company for free and add to meet
SkinBioTherapeutics at the link HERE
(https://www.investormeetcompany.com/skinbiotherapeutics-plc/register-investor)
.

Investors who already follow SkinBioTherapeutics on the Investor Meet Company
platform will automatically be invited.

A recording of the presentation will be available shortly afterwards on the
SkinBiotherapeutics investor relations section of the website HERE
(https://www.skinbiotherapeutics.com/?s=investor+meet) .

 

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

 Cavendish Capital Markets Limited                  Tel: +44 (0) 20 7397 8900
 (Nominated Adviser & Broker)

 Giles Balleny, Dan Hodkinson (Corporate Finance)

 Charlie Combe (Broking)

 Dale Bellis, Tamar Cranford-Smith (Sales)

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

 Melanie Toyne-Sewell / Jack Kincade                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.skinbiotherapeutics.com
(http://www.skinbiotherapeutics.com) and www.axisbiotix.com
(http://www.axisbiotix.com) .

 

Caution regarding forward looking statements

Certain statements in this announcement, are, or may be deemed to be, forward
looking statements. Forward looking statements are identified by their use of
terms and phrases such as ''believe'', ''could'', "should" ''envisage'',
''estimate'', ''intend'', ''may'', ''plan'', ''potentially'', "expect",
''will'' or the negative of those, variations or comparable expressions,
including references to assumptions. These forward-looking statements are not
based on historical facts but rather on the Directors' current expectations
and assumptions regarding the Group's future growth, results of operations,
performance, future capital and other expenditures (including the amount,
nature and sources of funding thereof), competitive advantages, business
prospects and opportunities. Such forward looking statements reflect the
Directors' current beliefs and assumptions and are based on information
currently available to the Directors.

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