Life sciences firm on the acquisition trail28 Oct 2023 18:03
27 october 2023
the chief executive of newcastle-headquartered life sciences business skinbiotherapeutics has spoken to insider about its acquisition drive and the "colossal" opportunities in its sector.
the listed company is a spin-out of the university of manchester, and is focused on skin health.
its proprietary platform technology, skinbiotix, is based upon discoveries made by dr. catherine o'neill and professor andrew mcbain about the positive impact of lysates, derived from probiotic bacteria, when applied to skin.
skinbiotherapeutics also develops "probiotic ****tail formulations", including a supplement called axisbiotix which helps address the symptoms associated with psoriasis.
chief executive stuart ashman explained that the company, which is generally b2b, generates "complex science", which is then licences, develops and pushes on to large multinationals such as sederma - the cosmetics division of croda international.
originally based out of macclesfield, the business is now headquartered in the core within newcastle's helix complex.
"we needed to put roots down somewhere, and there is a thriving scientific community within the biosphere, the core and the helix.
"it gave us the infrastructure and support that we truly crave and need.
"we are fully bought into the region and are very very proud to be there", added ashman.
in order to spreadhead growth, the company has now launched an acquisition drive and hopes to complete at least one accretive deal in the near term.
"we continue to work with multinationals and do b2b business but we feel that the products we've got, that are very consumer driven, now require faster pathways to the market.
"as a result, we are looking to buy a few businesses that already have those established retail and consumer driven channels", explained ashman.
he said: "in six to 12 months time, this company will look nothing like it does right now. that includes staffing up and increasing facilities - whether that's by hiring it or acquiring it. "
having worked to commercialise complex science for nearly 28 years, ashman concluded that he is "very optimistic" for the future of skinbiotherapeutics, adding: "i think the opportunities are colossal."
mol
Sign In
Follow the stocks
