(Alliance News) - SkinBioTherapeutics PLC on Monday said that it has begun a new research and development project in partnership with the University of Manchester.
The Newcastle, England-based life science company focused on skin health said its new Epiderm project aims to create a technology that promotes wound healing. Epiderm will explore the use of non-pathogenic skin bacterium which possess novel features that support barrier function in the skin and encourage healing by promoting the migration of skin cells.
A total of GBP100,000 has been budgeted for the six-month project, which will be jointly paid for by the company and future grant funding.
SkinBioTherapeutics Chief Executive Officer Stuart Ashman said: "The new Epiderm project is an exciting early step in furthering our work in the woundcare space and for our MediBiotix pillar. We are very pleased to continue our longstanding relationship with the University of Manchester and work alongside Professor Andrew McBain once again, as well as begin a new working relationship with Professor Sheena Cruickshank."
The company also announced that its Chief Scientific Officer Cath O'Neill intends to step down and return to academia. She will however assume a new role and continue to support the company as scientific advisor.
Shares in SkinBioTherapeutics were down 7.4% to 7.51 pence in London on Monday afternoon.
By Elijah Dale, Alliance News reporter
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Skinbiotherap. (SBTX)