RE: Capital Markets Advisor22 Nov 2023 18:29
CS employee as noted here
https://uk.linkedin.com/company/skinbiotherapeutics
mind his old employers still maintain an interest
Recent Developments
Last Updated: 17/11/2023
SBTX announced the completion of a £3m equity placing at 19p on 17 November*, which will be followed by a £250,000 retail offer via the Bookbuild platform. The company stated that the proceeds “will enable the Company to advance its oral and inflammation programmes, continue roll-out of its Axis-PS, study and subsequent commercialisation of acne treatment, as well as general working capital. The Fundraising will also strengthen the Company’s balance sheet to assist with negotiations on potential acquisition targets and partnership discussions.” They continue to work on five “pillars” ranging from skin health to woundcare, but more particularly they are working on partnerships with multinationals in three of their pillars.
In October SBTX announced an extension of its collaboration contract with Sederma (the cosmetics division of Croda) for an additional 12 months. The studies are due to run from late 2023 into early 2024, and any costs to SBTX of supplying SkinBiotix for the studies are covered by Sederma. They subsequently (25 October) provided details of the 300-consumer trial they are conducting in the UK on two acne treatment compounds. They anticipate a readout in Q1 2024. They noted that the global market for acne treatments is over $10bn and the UK market over $260m.
On 15 September SBTX announced that AxisBiotix-Ps had been approved from regulators to be sold in France. Marketing of the product is expected to launch in October. This followed approvals for the product to be sold in Spain and Italy in March and June earlier in the year. All of the approvals progress the company’s ambition in commercialising AxisBiotix through Europe, following their UK launch.
As well as psoriasis and cosmetics applications, SBTX has in the past referred to other potential applications for their formulations, including wound care (Medbiotix, Chief Scientific Officer Cath O’Neill’s area of research at the moment) and oral health.
Note Cath's area of research at the moment - at least according to them - and mn in three pillars
mol
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