SkinBioTherapeutics PLC Extension of Research Contract (8748F)

TIDMSBTX

RNS Number : 8748F

SkinBioTherapeutics PLC

23 May 2017

SkinBioTherapeutics plc

(the "Company")

Extension of research contract with University of Manchester

SkinBioTherapeutics plc (AIM: SBTX), a life science company focused on skin health, announces that, as envisaged in the Company's Admission Document dated 29 March 2017, it has agreed an eight month extension to its research contract with the University of Manchester to June 2018. This contract extension includes provision for the appointment of a second technician to the Company. This will increase the Company's ability to develop its SkinBiotix(R) platform.

Furthermore, the Company announces that it has recently demonstrated activity of SkinBiotix(R) at a range of doses in human skin models, and also completed the design of two human safety trials. If successful, these trials will allow the technology to be labelled 'dermatologically tested' for its cosmetic application.

Dr. Catherine O'Neill, CEO of SkinBioTherapeutics, said:

"We are making progress in our research, and the extension and expansion of our contract with the University of Manchester will allow meaningful progression across the Company. We are pleased with the progress of SkinBiotix, and are confident that it remains on track.

"As a team, we have nurtured relationships with industry stakeholders for many years. Since our IPO, we have continued to ensure potential commercial partners are aware of the capabilities of the SkinBiotix platform."

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

For further information, please contact:

 
 SkinBioTherapeutics plc                 Tel: [phone] 
  Dr. Catherine O'Neill, CEO 
  Douglas Quinn, CFO 
 Cairn Financial Advisers LLP            Tel: [phone] 
  Tony Rawlinson / Emma Earl / Richard 
  Nash 
 Turner Pope Investments                 Tel: [phone] 
  Ben Turner / James Pope 
 
 Instinctif Partners                     Tel: [phone] 
  Melanie Toyne-Sewell / Alex Shaw        [e-mail] 
 
 

Notes to Editors

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 company news service from the London Stock Exchange

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May 23, 2017 02:00 ET (06:00 GMT)