Manchester, UK - 15 March 2021 - SkinBioTherapeutics plc (AIM: SBTX or the "Company") a life sciences company focused on skin health, announces its unaudited half year consolidated results for the six months to 31 December 2020.
Operational and financial highlights
· Successful combined and formulated blend of probiotic food supplement, AxisBiotix-Ps™, by partner Winclove, completed ahead of schedule
o Post-period end: commencement of supplement consumer study with strong initial data from over 150 participants reporting at the 14 day timepoint
· SkinBiotix programme with Croda progressing to plan; current focus is scaling-up manufacture of lysate to higher (commercial) volumes; commercialisation on track for 2022
· Placing and open offer in October completed, raising £4.45m (gross)
· Cash as at 31 December 2020 £5.5m (2019: £2.5m)
Stuart Ashman, CEO of SkinBioTherapeutics, said:
"The Company has made strong progress over the first half of the year, which given the continued impact that the COVID-19 pandemic has had across the UK and internationally, has been an outstanding achievement by the team.
"We acted decisively and swiftly in adapting our AxisBiotix-Ps™ food supplement consumer study into a format that allowed for remote participation, which we successfully launched post-period end. Our SkinBiotix cosmetic programme is progressing on schedule, with Croda/Sederma making excellent strides on both the manufacturing and commercial positioning sides. We anticipate seeing significant progress in both areas of work during 2021.
"Our placing and open offer completed in October 2020 has given us resource to materially explore the use of our technology in other areas and expand our virtual R&D operations into true in-house capability. Coupled with our robust cash control, the Company is well-positioned to unlock the commercial potential of our world-class technology."