TIDMSBTX

RNS Number : 9427X

SkinBioTherapeutics PLC

16 August 2018

SkinBioTherapeutics plc

Business update

Manchester, UK - 16 August 2018 - SkinBioTherapeutics plc (AIM: SBTX, the "Company"), a life science company focused on skin health, is pleased to provide the following update:

Manufacturing

The Company, with its third party manufacturer, has now achieved significant manufacturing scale up, with no detrimental impact upon the active properties of the SkinBiotix(R) technology.

In addition the material, which to date has been manufactured and supplied in a liquid form, has now been successfully freeze dried. The ability to freeze dry the material is an important steps towards commercialisation as it enables mass production, storage and transportation.

The SkinBiotix(R) technology has been shown to be stable and effective within the cream formulation for 24 hours. The human study, which is due to commence in September, is subject to the Company's ongoing work to confirm stability of the current formulation over an extended timeframe. The Company expects to provide an update on this in the coming weeks.

Financial Position

The Company ended the 12 months to 30 June 2018 with a cash balance of GBP3.2m (31 December 2017: GBP3.6m).

The Company will publish its full year results in October.

Dr Cath O'Neill, CEO of SkinBioTherapeutics, commented:

"The progress we've made so far in manufacturing and freeze-drying the lysate is very encouraging. The current formulation is undergoing extended stability studies in preparation for the human study."

The information communicated within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 and has been arranged for release by Doug Quinn, CFO of the Company. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

For more information, please contact:

 
 SkinBioTherapeutics plc                      Tel: +44 (0) 161 468 
  Dr. Cath O'Neill, CEO                        2760 
  Doug Quinn, CFO 
 Cairn Financial Advisers LLP (Nominated      Tel: +44 (0) 20 7213 
  Adviser)                                     0880 
  Tony Rawlinson / Sandy Jamieson / Richard 
  Nash 
 Turner Pope Investments (Joint Broker)       Tel: +44 (0) 20 3621 
  Ben Turner / James Pope                      4120 
 
  Northland Capital Partners (Joint Broker) 
  Tom Price                                    Tel: +44 (0) 20 3861 
                                               6625 
 Instinctif Partners (Media Relations)        Tel: +44 (0) 20 7457 
  Melanie Toyne-Sewell / Deborah Bell          2020 
                                               SkinBio@instinctif.com

About SkinBioTherapeutics plc

SkinBioTherapeutics is a life science company focused on skin health. The Company's proprietary platform technology, SkinBiotix(R), 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(R) 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(R) 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(R). 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 GBP4.5 million from a placing of new ordinary shares.

The Company is based in Manchester, UK. For more information, visit www.skinbiotherapeutics.com.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

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