Publication of Prospectus

NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES OF AMERICA (SUBJECT TO CERTAIN LIMITED EXCEPTIONS), AUSTRALIA, NEW ZEALAND, CANADA, THE REPUBLIC OF SOUTH AFRICA OR JAPAN OR ANY OTHER JURISDICTION IN WHICH IT WOULD BE UNLAWFUL TO DO SO. PLEASE SEE THE IMPORTANT NOTICE AT THE END OF THIS ANNOUNCEMENT.

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED UNDER THE UK VERSION OF THE MARKET ABUSE REGULATION (EU NO. 596/2014) AS IT FORMS PART OF UNITED KINGDOM DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 ("UK MAR").

TERMS NOT OTHERWISE DEFINED HEREIN SHALL HAVE THE MEANINGS GIVEN TO THEM IN THE COMPANY'S ANNOUNCEMENT RELEASED AT 09:19 A.M. 20 JANUARY 2021.

12 April 2021

InnovaDerma PLC

("InnovaDerma" or the "Company")

Publication of Prospectus

Further to the announcement today relating to the proposed Fundraising, the Company is pleased to announced the prospectus and circular (the "Prospectus") has been approved by the Financial Conduct Authority and will be published today.

The Prospectus will shortly be posted to Shareholders.

The Prospectus also includes a notice of a general meeting of the Company, to be held in connection with the Fundraising at 10:00 a.m. on 29 April 2021. Shareholders are reminded to review carefully the actions to be taken by them in connection with the General Meeting, which are detailed in the Prospectus.

A copy of the Prospectus will be submitted to the National Storage Mechanism and will shortly be available for inspection at https://data.fca.org.uk/#/nsm/nationalstoragemechanism. The Prospectus is also available for inspection at the Company's registered office at 27 Old Gloucester StreetLondon WC1N 3AX and is available on the Company's website: https://www.innovaderma.com/investor-relations/.

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