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. In October
2023,
Croda extended its contract 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
Stuart J. Ashman, CEO
Manprit Randhawa, CFO
|
+44 (0) 191 495
7325
|
|
Cavendish Capital Markets Limited
(Nominated Adviser & Broker)
Giles Balleny, Dan Hodkinson
(Corporate Finance)
Charlie Combe (Broking)
Dale Bellis, Tamar Cranford-Smith
(Sales)
|
+44 (0) 20 7220
0500
|
|
Vigo
Consulting (financial press)
Rozi Morris
|
+44 (0) 20 7390
0230
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.