MANCHESTER, England--(BUSINESS WIRE)--SkinBioTherapeutics plc (AIM: SBTX or the “Company”) a life sciences company focused on skin health, has announced its full year results for the year to 30 June 2017.
- Research agreement with the University of Manchester for ‘development of a bacterial lysate as a novel agent to combat infections’
- Successful demonstration of the three modes of action of the SkinBiotix® technology
- Creating a strong Board and management team for the development and commercial phase of the Company
- Admission to AIM in April 2017 raising £4.5m
- Initiating scale up of lysate manufacture with third parties
- Cash as at 30 June 2017 £3.9m (2016: £0.3m)
- Post year end: SkinBiotix® passed cytotoxicity test, representing first key milestone post IPO
Cath O’Neill, CEO of SkinBioTherapeutics, said:
“This has been a significant year for the Company; from creating the infrastructure and team to support the growth and development of the Company, to the scientific progress around our proprietary skin platform, SkinBiotix®.
“During the year, we have demonstrated three significant properties – barrier improvement, anti-infection and repair – which form the foundations of our three development programmes. We are making good scientific headway and are starting initial discussions with partners.
“Operationally, we have made a good start to the new financial year, especially with the recent news around the third party cytotoxicity testing, and we look forward to reporting on the next phase of the Company’s journey.”
The information communicated within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.
For the full announcement visit www.skinbiotherapeutics.com
Notes to Editors
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 CEO Dr. Catherine O’Neill and Professor Andrew McBain.
SkinBioTherapeutics’ platform applies research discoveries made on the activities of lysates derived from probiotic bacteria when applied to the skin. The Company has shown that the SkinBiotix® platform can improve the barrier effect of skin models, protect skin models from infection and repair skin models. Proof of principle studies have shown that the SkinBiotix® platform has beneficial attributes applicable to each of these areas.
SkinBioTherapeutics received seed funding from the Tech Transfer office of the University of Manchester for the discovery of SkinBiotix®. The platform was subsequently spun out of the University of Manchester in March 2016 and was funded by OptiBiotix (AIM: OPTI).
The Company joined AIM in April 2017 concurrent with raising £4.5 million from a placing of new ordinary shares.
The Company is based in Manchester, UK. For more information, visit www.skinbiotherapeutics.com.