TIDMSBTX
RNS Number : 1793S
SkinBioTherapeutics PLC
07 July 2020
7 July 2020
SkinBioTherapeutics plc
("SkinBioTherapeutics" or "the Company" or "the Group")
Business Update
-- Finalised stable formulation for AxisBiotix (TM) food
supplement to treat symptoms of psoriasis; development
significantly ahead of schedule
-- Croda partnership to develop active skincare ingredient progressing to plan
-- Important patent grant received for SkinBiotix(R) in medical,
cosmetic and woundcare indications in the US and Japan
-- Cash as at 30 June 2020 GBP2.1m (31 December 2019: GBP2.5m)
SkinBioTherapeutics plc (AIM: SBTX), a life science company
focused on skin health, is pleased to provide a business
update.
Financially, the Company ended the 12 months to 30 June 2020
with a solid cash balance of GBP2.1m
(31 December 2019: GBP2.5m).
Operationally, the Company has made significant progress with
its collaborative partners, Winclove Probiotics B.V. (Winclove) and
Croda plc (Croda), as well as having an important patent granted in
key geographical regions.
Winclove - Development of Psoriasis supplement significantly
ahead of schedule
In February 2020, the Company signed a development agreement
with Winclove for a probiotic food supplement to help manage the
symptoms associated with the skin condition, psoriasis.
A proprietary blend of 'good' bacterial strains had already been
identified by SkinBioTherapeutics, and the Company is pleased to
report that several months ahead of schedule, Winclove has now been
able to successfully combine and formulate the blend as a probiotic
food supplement, to be known as AxisBiotix (TM)Ps.
As a pre-requisite to commercialisation, AxisBiotix (TM)Ps will
undergo a human study with patients suffering from mild to moderate
psoriasis. The Company has confirmed with the necessary regulatory
bodies that the study will be conducted as a food supplement study.
Such studies have much reduced requirements in terms of endpoints
and the time required compared to a therapeutic trial.
Recognising the constraint that the COVID-19 pandemic is having
on non-COVID related human studies, the Company is investigating
opportunities and protocols for accelerating the testing programme.
One way to do this would be to ask patients to report any change of
their symptoms virtually rather than attending a clinic in person.
This method could potentially see an earlier readout than a
conventional study and, as a result, if supportive, an earlier
commercial launch.
Croda - progressing well to create a bioactive for cosmetics
skincare
SkinBioTherapeutics' development team is working well with
Sederma, the arm of Croda that specialises in the manufacture of
bioactive ingredients for the cosmetic industry, towards the use of
SkinBiotix (R) as the foundation for an active skincare ingredient.
Whilst activities have been impacted by COVID-19, these are not
considered material against the original development timelines.
Patent grant - expanding the IP portfolio into key
geographies
A key part of the ongoing strategy is to grow and maintain the
intellectual property (IP) portfolio around SkinBioTherapeutics'
technology.
In June 2020, the Company received notification that its
SkinBiotix (R) patent application 'anti-bacterial lysate of
probiotic bacteria' had been granted in the United States (US) and
Japan. The Company has also received notification of grant of the
same patent application in Europe. The patent granted covers the
use of material to inhibit pathogen colonisation. This important
anti-infective quality has potential applications in medical,
cosmetic and woundcare indications.
Minimised COVID-19 impact on Manchester University research
agreement
SkinBioTherapeutics has a long term research agreement with
Manchester University. The University closed its campus operations
on 18 March 2020, in line with UK Government advice around
COVID-19, however the impact on the Company has been significantly
minimised, given its primary strategic focus has recently switched
from research to development.
Stuart Ashman, CEO of SkinBioTherapeutics, said:
"We are very pleased with the progress that the Company has been
able to make during these most exceptional times. Our development
projects are making great progress, as evidenced by our AxisBiotix
formulation with Winclove being completed significantly ahead of
schedule. Work with Croda's Sederma team is progressing well and to
plan and we are extending our IP portfolio, with the new patent
being granted in multiple geographies.
"The next milestones for us are establishing a new rapid trial
protocol for AxisBiotix(TM)Ps that is resistant to the pressures of
the ongoing COVID-19 restrictions and continuing to advance our
MediBiotix and CleanBiotix programmes."
-Ends-
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
Stuart J . Ashman, CEO 468 2760
Doug Quinn, CFO
Cenkos Securities Plc (Nominated Adviser Tel: +44 (0) 20 7397
& Broker) 8900
Giles Balleny, Max Gould (Corporate Finance)
Michael Johnson (Sales)
Instinctif Partners Tel: +44 (0) 20 7457
Melanie Toyne-Sewell / Philip Marriage 2020
/ Nathan Billis 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 Prof. Catherine
O'Neill and Professor Andrew McBain.
The Company has demonstrated, through scientific testing, that
the SkinBiotix(R) platform can improve the barrier effect of skin
models, protect from infection and repair wounds. Proof of
principle studies have also shown that the SkinBiotix(R) platform
has beneficial attributes applicable to each of these areas. The
technology achieved positive results in clinical studies in human
volunteers in early 2019.
The Company listed on AIM in April 2017 and is based in
Manchester, UK. For more information, visit: www.skinbiotix.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.
END
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