REG - SkinBioTherapeutics - SkinBiotix and AxisBiotix Update

SkinbiotherapeuticsAnnouncement

10/05/2023 07:00

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RNS Number : 8577Y  SkinBioTherapeutics PLC  10 May 2023

 SkinBioTherapeutics plc

("SkinBioTherapeutics" or "the Company")

SkinBiotix™ and AxisBiotix™ update

 

·    Positive update from Sederma (Croda) team on progress of its work
with SkinBiotix™

·    Plans by Sederma to undertake further studies to confirm identified
additional properties of SkinBiotix™ to enhance the commercial opportunity

·    AxisBiotix-Ps™ sales have commenced in Spain aided by launch of
regional website; Italy and France to be next territories for launches

10 May 2023 - SkinBioTherapeutics plc (AIM: SBTX, or the Company), a life
science business focused on skin health, has received an update of progress
from its partner, Sederma, a division of Croda International Plc ("Croda"),
which includes plans to undertake additional studies on SkinBiotix™ which
are expected to enhance the commercial opportunity.

Croda update

In November 2019, SkinBioTherapeutics signed a commercial agreement with
Croda, the company responsible for the high performance ingredients and
technologies in some of the world's largest and most successful brands. Under
the terms of the agreement, Sederma, Croda's cosmetics division, is
responsible for the development, manufacturing and commercialisation of the
SkinBiotix™ technology.

As design and build of the facility for the production of the active
ingredient has progressed, Sederma has conducted concurrent investigations in
focussed application areas. As a result of these investigations, the Sederma
team is now seeking to undertake additional formal studies to investigate
potential added benefits of the SkinBiotix™ technology.

The further studies are expected to take an additional three to four months,
and would run from November 2023 through to Q1 2024. Any additional benefits
identified from these studies would enable Croda/Sederma to add to the
commercial opportunity for SkinBiotix as an active ingredient and could lead
to enhanced claims and therefore a higher price point in market. The costs of
these additional studies will be paid for by Sederma.

Any licensed products resulting from the agreement with SkinBioTherapeutics
will be sold to Croda's global portfolio of Personal Care customers.
SkinBioTherapeutics will be paid tiered royalties based on global sales
revenues on any licensed products derived from the partnership.

Dr Damian Kelly, Vice President Innovation & Technology Development at
Croda Europe Ltd, responsible for the project said:

"This [SkinBiotix™ programme] continues to be a fascinating project that is
heading towards commercialisation and will break new scientific ground in the
use of lysated bacteria in the cosmetic industry as a skin care active
ingredient."

Dr Kelly added, "We have recently observed some additional unexpected
technical benefits during our projected scale-up activities which, if shown to
be efficacious through further in-vitro and in-vivo clinical trials, would
then offer significant supplementary applications and greater product
valorisation as a skin care cosmetic active.  We are excited by the findings
we have seen thus far and look forward to a long and prosperous relationship
with SkinBioTherapeutics."

 

AxisBiotix-Ps™ European expansion update

As previously announced, sales have started in Spain accompanied by the launch
of a Spanish-language website (see link (http://www.axisbiotix.com/es-es) )
with distribution of product taking place from the Company's EU hub in the
Netherlands. Sales are being managed by the UK AxisBiotix team. Preparations
are underway to launch in Italy, followed by France later in the year. Each
country requires approval from the respective healthcare regulators; talks are
progressing well in both locations.

 

Acquisitions

Management continues to negotiate terms with the potential vendors of the
previously announced acquisition target. In addition, the Company continues to
explore potential acquisition opportunities although it is clear that any
transaction must be truly accretive as well as sector relevant and
scientifically focused before it is considered.

 

Stuart J. Ashman, CEO of SkinBioTherapeutics, said:

"We remain pleased with the progress of our partnership with Croda even though
we have not been able to say much about the work underway for commercial
sensitivity reasons and we are encouraged by the reaction from the Sederma
team. We also share their belief that there may be additional properties which
could enhance the sales opportunity of SkinBiotix.

"As previously announced, we have also commenced sales of AxisBiotix-Ps in
Spain in order to help people suffering from the symptoms of psoriasis.
Receiving approval from the Spanish health authorities to proceed, the launch
of our Spanish commercial site and early positive responses from potential
customers provides additional validation of our product."

-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.

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