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SkinBioTherapeutics says development project with Winclove is well ahead of schedule

The skin health specialist made significant progress with its collaborative partners, Winclove Probiotics and Croda

SkinBioTherapeutics PLC -

SkinBioTherapeutics PLC (LON:SBTX) has said its collaboration with Winclove Probiotics on the development of a food supplement is well ahead of schedule.

SkinBio is working with Winclove on a probiotic food supplement to help manage the symptoms associated with the skin condition, psoriasis. The good news is that Winclove has already come up with a formulation to be known as AxisBiotix Ps.

Before going into commercial production, the product will undergo a human study with patients suffering from mild to moderate psoriasis. SkinBio stressed that the study will be a food supplement study, not a therapeutic trial, and as such should not take as long.

In a business update for the year ended June 30, 2020, the life science company focused on skin health said it had made significant progress in the period with its collaborative partners, Winclove Probiotics and Croda PLC (LON:CRDA), plus it had secured an important patent in key geographical regions.

The company said as at June 30, 2020, it had cash of £2.1mln, down from £2.5mln as at December, 31, 2019.

SkinBio said its work with Croda has been affected somewhat by the coronavirus pandemic but the project remains on schedule.

"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,” Stuart Ashman, the chief executive officer of SkinBio said in the update.

“Work with Croda's Sederma team is progressing well and to plan and we are extending our IP [intellectual property] 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," he added.

Shares in SkinBio were up 3.7% at 17.5p in early deals.

Quick facts: SkinBioTherapeutics PLC

Price: 31.3 GBX

Market: AIM
Market Cap: £48.79 m


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