SkinBioTherapeutics - Business Update
("SkinBioTherapeutics" or "the Company" or "the Group")
· Finalised stable formulation for AxisBiotix™ food supplement to treat symptoms of psoriasis; development significantly ahead of schedule
· Croda partnership to develop active skincare ingredient progressing to plan
· Important patent grant received for SkinBiotix® in medical, cosmetic and woundcare indications in the US and
· Cash as at
Financially, the Company ended the 12 months to
Operationally, the Company has made significant progress with its collaborative partners,
Winclove - Development of Psoriasis supplement significantly ahead of schedule
A proprietary blend of 'good' bacterial strains had already been identified by SkinBioTherapeutics, and the Company is pleased to report that several months ahead of schedule, Winclove has now been able to successfully combine and formulate the blend as a probiotic food supplement, to be known as AxisBiotix™Ps.
As a pre-requisite to commercialisation, AxisBiotix™Ps will undergo a human study with patients suffering from mild to moderate psoriasis. The Company has confirmed with the necessary regulatory bodies that the study will be conducted as a food supplement study. Such studies have much reduced requirements in terms of endpoints and the time required compared to a therapeutic trial.
Recognising the constraint that the COVID-19 pandemic is having on non-COVID related human studies, the Company is investigating opportunities and protocols for accelerating the testing programme. One way to do this would be to ask patients to report any change of their symptoms virtually rather than attending a clinic in person. This method could potentially see an earlier readout than a conventional study and, as a result, if supportive, an earlier commercial launch.
Croda - progressing well to create a bioactive for cosmetics skincare
SkinBioTherapeutics' development team is working well with Sederma, the arm of Croda that specialises in the manufacture of bioactive ingredients for the cosmetic industry, towards the use of SkinBiotix® as the foundation for an active skincare ingredient. Whilst activities have been impacted by COVID-19, these are not considered material against the original development timelines.
Patent grant - expanding the IP portfolio into key geographies
A key part of the ongoing strategy is to grow and maintain the intellectual property (IP) portfolio around SkinBioTherapeutics' technology.
Minimised COVID-19 impact on
SkinBioTherapeutics has a long term research agreement with
"We are very pleased with the progress that the Company has been able to make during these most exceptional times. Our development projects are making great progress, as evidenced by our AxisBiotix formulation with Winclove being completed significantly ahead of schedule. Work with Croda's Sederma team is progressing well and to plan and we are extending our IP portfolio, with the new patent being granted in multiple geographies.
"The next milestones for us are establishing a new rapid trial protocol for AxisBiotix™Ps that is resistant to the pressures of the ongoing COVID-19 restrictions and continuing to advance our MediBiotix and CleanBiotix programmes."
The information communicated within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 and has been arranged for release by
For more information please contact:
Stuart J. Ashman, CEO
Tel: +44 (0) 161 468 2760
Cenkos Securities Plc (Nominated Adviser & Broker)
Tel: +44 (0) 20 7397 8900
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Tel: +44 (0) 20 7457 2020
SkinBioTherapeutics is a life science company focused on skin health. The Company's proprietary platform technology, SkinBiotix®, is based upon discoveries made by Prof.
The Company has demonstrated, through scientific testing, that the SkinBiotix® platform can improve the barrier effect of skin models, protect from infection and repair wounds. Proof of principle studies have also shown that the SkinBiotix® platform has beneficial attributes applicable to each of these areas. The technology achieved positive results in clinical studies in human volunteers in early 2019.
The Company listed on AIM in
This information is provided by RNS, the news service of the
Quick facts: SkinBioTherapeutics PLC
Market Cap: £31.76 m
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