RE: J50 Stand27 Mar 2023 17:27
Thanks mol. Must admit, whilst any overt mention of anything that could be directly associated with skinbiotix would have been most welcome, not too surprised by its absence as the VIP's already have the lysate for trialling in current and or standalone new products, and the first inkling that things are happening behind the scenes may be the visibility of royalty revenues in the accounts or a mega and surprise launch by an end Customer. From the Q&A's:
"Stuart: The Croda agreement is three years old and going to plan despite the two years of the COVID problem to negotiate. We were anticipating a delay when the pandemic started. However, Croda has been able to carry on with their plans. I have said before if Croda were to inform us of a material delay, we would need to announce it to the market. We have not had any indication from Croda they are running behind schedule.
As you know, through the scale-up process from 200 to 600 litres, Croda noticed a significant increase in activity, which excited them. However, it could have gone the other way because you never know how bacteria will behave.
The pathway is never linear; you can get surprises at every turn of the stage; sometimes, they are good surprises, and sometimes they are not so good. However, we have been lucky that everything we have seen has gone to plan except for this increased activity, which was a perfect surprise.
Croda had several decisions to make when they saw something like that (an enhancement to claims). Do we put it on hold while examining this additional activity, or do we launch and then continue with the sort of parallel pathways? The improved activities are a good thing because it helps with specific claims behind a product and improves royalties for us as a Company.
I know there is some significant interest in those initial enhancement claims, but I do not know to what extent. The lysate was produced for Sederma VIP clients, many of which are multinational cosmetic companies. It went to them early because they could decide whether this formulation worked in their existing products or produced a new product. How is the lysate going to respond and react in a current product? It is a big question, and it is a fundamental question because Sederma partners are not likely to want to mess with a successful selling product. The lysate might make it worse, go funny, or give it a funny smell and all those things. However, the VIPs were given a head start to try the lysate. The feedback we have had from Croda is that this has been very good."
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