REG - SkinBioTherapeutics - Final testing of SkinBiotix by Croda completed

SkinbiotherapeuticsAnnouncement

19/09/2024 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20240919:nRSS7709Ea&default-theme=true

RNS Number : 7709E  SkinBioTherapeutics PLC  19 September 2024

 

SkinBioTherapeutics plc

("SkinBioTherapeutics" or "the Company")

 

Final testing of SkinBiotix by Croda Beauty Care completed,

with positive results

 

·    Meeting with Croda Beauty Care team confirms positive study results
which provide validation of efficacy and marketing claims for
commercialisation team

·    Next steps - updating marketing and technical dossiers, and
manufacturing process, then samples to be sent to Croda Beauty Care's
cosmetics customers

·    Additional terms based on new data for commercialisation and
licensing agreement to be finalised with SkinBioTherapeutics before year end

19 September 2024 - SkinBioTherapeutics plc (AIM: SBTX), a life science
company focused on skin health, announces that the management received
positive feedback from Croda's Beauty Care division which includes the Sederma
team (Croda), based on the final testing of the SkinBiotix™ technology.
According to Croda, the additional data will be used to validate efficacy and
marketing claims to its customers.

SkinBioTherapeutics has a commercial and manufacturing agreement with Croda
signed in November 2019
(https://irs.nbtrader.co.uk/ir/SkinBiotix/newsArticle.php?id=2969255&ST=SBTX)
. In October 2023, Croda extended its contract
(https://irs.nbtrader.co.uk/ir/SkinBiotix/newsArticle.php?id=311428232704626475&ST=SBTX)
with SkinBioTherapeutics by 12 months, in order to run additional studies on
the SkinBiotix technology. The aim was to investigate previously unseen
beneficial properties which could enhance SkinBiotix's commercial potential
with the cosmetics industry.

Croda has now shared the conclusions of this testing with the
SkinBioTherapeutics leadership team. The conclusions of its studies are all
positive although no details will be released publicly due to the highly
sensitive and competitive nature of the cosmetics market, as is normal
industry practice.

The full technical dossier is now in the process of being completed with the
new data and will then be passed onto the Croda marketing and sales teams, to
plan commercialisation.  Pilot-scale manufacturing at 600 litre scale is
currently in progress and will generate the final product into samples which
will be shared with a few key customers prior to launch.  Full-scale
production is scheduled for 2025.

The formal launch of SkinBiotix as an active ingredient is planned to take
place at In-Cosmetics Global, the world's largest cometic ingredients
exhibition, taking place in Amsterdam (April 8-10, 2025).

Based on the original agreement, SkinBioTherapeutics will be paid tiered
royalties based on global sales revenues on any licensed products derived from
the partnership which will be subsequently agreed on successful development of
the technology. In addition, any concurrent testing in focussed application
areas was to be detailed in further, additional commercial agreements; the aim
is to conclude these subsequent discussions before the end of the year.

Sales and distribution rights are for the cosmetic sector alone, leaving
SkinBioTherapeutics to focus on further applications of its technology in
other sectors.

Dr Surinder Chahal, Cosmetic Science / Customer Alliances Advisor to
SkinBioTherapeutics (formerly VP Customer Alliances Technology Development at
Croda), added:

"One of the reasons I joined SkinBioTherapeutics from Croda was that I saw the
benefits of the SkinBiotix technology and its potential impact on the skin
healthcare sector. From the feedback we received from the Croda team, I am
delighted that my predictions are correct. Obviously, the metrics and
specifics from the study won't be released publicly since this is highly
commercially sensitive information that belongs to Croda. However, from the
conclusions drawn, we are pleased about how the technology performed and
confident about next steps."

Stuart Ashman, CEO of SkinBioTherapeutics, said:

"The meeting with the Croda team was very positive in my view. The extension
to the original process has proven to be worthwhile with respect to the
results from the further studies. The next step will be to finalise any
additional points to the original commercial agreement based on these new
data. We will relay to shareholders any updates from these negotiations as
soon as possible."

-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                            +44 (0) 191 495 7325

 Stuart J. Ashman, CEO

 Manprit Randhawa, CFO

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

 (Nominated Adviser & Broker)

 Giles Balleny, Dan Hodkinson (Corporate Finance)

 Charlie Combe (Broking)

 Dale Bellis, Tamar Cranford-Smith (Sales)

 Vigo Consulting (financial press)                  +44 (0) 20 7390 0230

 Rozi Morris                                        SkinBio@vigoconsulting.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 the translational dermatology team at the University of
Manchester.

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) .

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  MSCDVLFFZKLFBBF