Last checked at 18 Jan 2022 07:00
SkinBioTherapeutics plc
("SkinBioTherapeutics" or "the Company")
Searches commence for full time CFO and for new non-executive directorwith ecommerce and digital marketing background
18th January 2022 - SkinBioTherapeutics plc (AIM: SBTX), a life science business focused on skin health, announces that a process has been initiated to recruit a full time Chief Financial Officer. The Company is also seeking a new non-executive director to provide further board level support on ecommerce and social media strategy and overall consumer trends.
Chief Financial Officer
Doug Quinn has acted as SkinBioTherapeutics' part-time CFO since the Company's IPO in 2017. The past seven years have seen fast growth by the Company, from its initial focus on research and development to a commercial business with five distinct pillars for growth. Following this period of rapid growth and significant progress, and with the launch of its first product in 2021, the role of CFO has become increasingly demanding. Doug and the rest of the Board are of the opinion that the role is now best served as a full-time position and from the Company's offices in Newcastle upon Tyne. Unable to make this commitment, Doug has decided to step down from his role and board position.
The Company is starting a process looking for a full time CFO with listed experience and sector experience relevant to the future direction of the business. The aim is for a new CFO to be appointed in early Q2 2022 to ensure an orderly handover.
Doug has agreed to a 12 month lock-in with respect to his share options, all of which are vested and represent 1.7% of the issued share capital.
Non-Executive Director
SkinBioTherapeutics is also seeking a new non-executive board member. Given sales and marketing activities in the health and beauty fields are heavily influenced by digital practices, and, given the Company's increasing ecommerce platform and digital presence, the aim is to broaden this type of experience at Board level. The right candidate would ideally have a deep knowledge of ecommerce, with experience of digital sales and marketing and consumer trends.
Martin Hunt, Chairman of SkinBioTherapeutics, said:
"Doug has been a mainstay of SkinBioTherapeutics since before the IPO and during the Company's rapid growth to its current position with a product on the market, and a pipeline of other development programmes coming through. He has achieved all this whilst managing another CFO role. We are therefore extremely grateful to him for his service and dedication to the Company and wish him well.
"With Doug's help, we will be seeking a new full-time CFO who can guide the Company through its next phase of development, moving from a single product Company to one with multiple commercial arms and additional partnerships with industry."
Doug Quinn, CFO added:
"The evolution of SkinBioTherapeutics from a private R&D Company to a public, commercial one has been an exciting journey. I am looking forward to helping my successor find their feet and wish the SkinBioTherapeutics team the best of luck for the future."
Martin Hunt added:
"There has been an exponential rise in online consumerism, not just as a result of the pandemic. Therefore, we intend to bring in further experience to the Board in this area, to support the team around AxisBiotix and in time, new products in the pipeline."
CVs for either position should be sent to skinbiotix@edwardreed.co.uk
-Ends-
For more information please contact:
SkinBioTherapeutics plc Stuart J. Ashman, CEO Doug Quinn, CFO | Tel: +44 (0) 161 468 2760 |
Cenkos Securities Plc (Nominated Adviser & Broker) Giles Balleny, Max Gould (Corporate Finance) Michael Johnson, Dale Bellis (Sales) | Tel: +44 (0) 20 7397 8900 |
Instinctif Partners (financial press) Melanie Toyne-Sewell / Nathan Billis | Tel: +44 (0) 20 7457 2020 SkinBio@instinctif.com |
About SkinBioTherapeutics plc
SkinBioTherapeutics is a life science company focused on skin health. The Company's proprietary platform technology, SkinBiotix®, is based upon discoveries made by Professor Catherine O'Neill and Professor Andrew McBain.
The Company is targeting a number of skin healthcare sectors, the most advanced of which are cosmetic skincare and food supplements to modulate the immune system by harnessing the gut-skin axis. In each area SkinBioTherapeutics plans to exemplify its technology through human studies. The Company's first product, AxisBiotix-Ps™, a food supplement to address the symptoms of mild to moderate psoriasis was launched on 29 October - World Psoriasis Day.
The Company listed on AIM in April 2017 and is based in Manchester, UK. For more information, visit: www.skinbiotix.com.