REG - SkinBioTherapeutics - Dermatonics to launch Once Heel Balm in AMEA

SkinbiotherapeuticsAnnouncement

20/02/2024 07:00

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RNS Number : 6835D  SkinBioTherapeutics PLC  20 February 2024

 

SkinBioTherapeutics plc

("SkinBioTherapeutics" or "the Company")

 

Dermatonics and partner, Umesh Modi Group, to launch

Pheet and Dermatonics Once Heel Balm in Asia, Middle East and Africa

 

20 February 2024 - SkinBioTherapeutics plc, (AIM: SBTX, or the "Company"), the
life science business focused on skin health, announces that its newly
acquired company Dermatonics is set to launch Pheet and Dermatonics Once Heel
Balm in Asia, Middle East and Africa (AMEA) in partnership with the Umesh Modi
Group (the Group) following the signing of a manufacturing and distribution
agreement on 30 June 2023.

Pheet and Dermatonics products are used for the treatment of dry foot skin and
are sold under the Dermatonics brand in the rest of the world. The Once Heel
Balm product will be manufactured by the Umesh Modi Group and sold directly by
its sales team of over 1,200 people across six countries including India,
Bangladesh Sri Lanka and Nigeria. The total addressable market in these
regions for dermatology and diabetes management is in excess of £5bn. This
collaboration is currently at an early stage, therefore, the management does
not expect any changes to current market expectations at this stage.

Umesh Modi Group is a well-known privately-held Indian business
conglomerate based in New Delhi, India. It has a strong presence in many
sectors including pharmaceuticals, Fast Moving Consumer Goods (FMCG), colour
cosmetics, alcoholic drinks, sugar, engineering, power generation, retail and
real estate.  Umesh Modi Group is supported by an extensive manufacturing
campus producing products to international standards including UK MHRA for
pharmaceutical products.

The Group has a series of long-standing partnerships with international
companies in Europe and the US, including, pharma and healthcare companies,
Mundipharma (Switzerland),  Merz Pharma (Germany), Zambon (Italy), Pierre
Fabre (France), Norgine (UK) and Perrigo (Ireland); drinks company, William
Grant (UK); nutrition and biosciences, IFF/Dupont (US) and the cosmetics, skin
care, perfume, and personal care group, Revlon Inc (US).

 

Greg Andrell, founder of Dermatonics, said, "We have been working on this
project for several months now and the launch of our brands is the end result
of a lot of detailed preparation. We are excited by the potential opportunity
of building sales in these rapidly growing regions."

 

Will Pugh, Vice President of International Development for the Umesh Modi
Group said:

"We are delighted to be ready to launch the Pheet and Dermatonics products.
They will be manufactured in-house to our exacting standards and distributed
across a geographic region that we know extremely well. With number one
positions in the antiseptic (Betadine) and scar management
(Mederma/Contractubex) categories, we have the capability and expertise to
make the Pheet and Dermatonics brands a big success."

He added: "We have also been delighted to meet the SkinBioTherapeutics
management team to discuss additional opportunities brought about by the
joining of SkinBioTherapeutics and Dermatonics. We look forward to a long and
prosperous relationship."

Stuart Ashman, CEO of SkinBioTherapeutics added: "Agreements of this nature
are part of the reason why we acquired Dermatonics. Given this collaboration
is currently at an early stage, we do not expect any changes to current market
expectations. However, the association with the Umesh Modi Group and the
potential to leverage other opportunities for our other products is an added
advantage that we are most keen to explore."

-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

 Cavendish Capital Markets Limited                  Tel: +44 (0) 20 7220 0500

 (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                SkinBioTherapeutics@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.

In January 2024, SkinBioTherapeutics acquired Dermatonics, the specialist in
the production of innovative topical and dermatological products in the
skincare/woundcare space, with the aim of using natural ingredients wherever
possible.

SkinBioTherapeutics listed on AIM in April 2017 and is based in Newcastle, UK.
For more information, visit: www.skinbiotherapeutics.com and
www.axisbiotix.com.

 

 

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