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SBTX Skinbiotherapeutics Plc

10.20
0.05 (0.49%)
21 May 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Skinbiotherapeutics Plc LSE:SBTX London Ordinary Share GB00BF33H870 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.05 0.49% 10.20 10.25 10.60 10.425 10.15 10.15 1,286,917 16:35:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Biological Pds,ex Diagnstics 132k -2.84M -0.0163 -6.39 18.13M

SkinBioTherapeutics PLC New research project and CSO to return to academia

18/03/2024 7:00am

RNS Regulatory News


RNS Number : 1463H
SkinBioTherapeutics PLC
18 March 2024
 

A blue text on a white background Description automatically generated

 

SkinBioTherapeutics plc

("SkinBioTherapeutics" or "the Company")


SkinBioTherapeutics initiates new Epiderm project in partnership
with the University of Manchester

Chief Scientific Officer, Prof. Cath O'Neill to move to Scientific Adviser role

 

18 March 2024 - SkinBioTherapeutics plc, (AIM: SBTX, or the "Company"), the life science business focused on skin health, announces that it has initiated a research and development project with the University of Manchester, named the Epiderm project. The Company also announces that Professor Cath O'Neill has confirmed that she intends to stand down as Chief Scientific Officer (CSO) and move to a Scientific Adviser role.

 

EpiDerm project with University of Manchester

 

SkinBioTherapeutics has initiated a research and development project with the University of Manchester, named the Epiderm project (Epiderm). The project is in alignment with the Company's MediBiotix™ pillar, which targets the use of the SkinBiotix® technology for medical applications and commercialisation.

 

The project will be run by Professor Andrew McBain and Professor Sheena Cruickshank. Professor Andrew McBain co-created the SkinBiotix® technology and is an expert in the Microbiome. Professor Sheena is a Professor in Biomedical Sciences and Public Engagement at the University of Manchester and is a highly regarded figure in the field immunology.

 

Epiderm will explore the use of a non-pathogenic ('friendly') skin bacterium with novel features that support barrier function in the skin. These friendly bacterium encourage the skin to  heal by promoting the migration of skin cells, which help close up a wound.

 

By the end of the six month project, the aim will be to develop a technology derived from specific non-pathogenic skin bacterium that promotes wound healing.

 

The total budget for the project is £100k which will be joint funded by SkinBioTherapeutics and future grant funding.

Stuart Ashman, CEO of SkinBioTherapeutics said: "The new Epiderm project is an exciting early step in furthering our work in the woundcare space and for our MediBiotix pillar. We are very pleased to continue our longstanding relationship with the University of Manchester and work alongside Professor Andrew McBain once again, as well as begin a new working relationship with Professor Sheena Cruickshank. She is highly respected in the field of immunology. We believe that this project has the potential to form the basis of a new technology for future products and out-licensable opportunities."

 

Prof. Cath O'Neill

Professor Cath O'Neill has confirmed that she intends to stand down as Chief Scientific Officer (CSO) and move to a Scientific Adviser role so that she can return to full time academia, as Professor of Translational Dermatology at the University of Manchester.

Since the Company was founded, Cath has combined her academic and corporate roles. The Directors have been aware of her eventual desire to return to full time academia for some time.

 

Cath will retain a close connection with the Company, not only as one of its original founders, but in the capacity as a scientific adviser. She will continue to provide support and guidance on areas such as the intellectual property behind her inventions (AxisBiotix, Skinbiotix) and strategic developments in the microbiome arena. She also retains a significant personal shareholding of 2.47%. The Board has commenced the search for a new CSO.

 

Martin Hunt, Chairman of SkinBioTherapeutics Plcsaid:

"Cath has played an important role at SkinBioTherapeutics for many years. The Company is based on the SkinBiotix technology that she invented and developed with Professor Andrew McBain, and she oversaw the Company's IPO as CEO and the first two years of the Company's life. She then moved into the CSO role and has applied her expertise and knowledge to how we can adapt and apply the SkinBiotix technology to a whole range of different skin health pillars.

 

"She has done all this whilst maintaining her role at Manchester University. Cath has long spoken about her wish to return to academia in due course, and so we wish her all the best now that this time has come. However, we are pleased that she will maintain a connection with us, not just as a shareholder, but also in her capacity as Scientific Adviser."

 

Catherine O'Neill, Chief Scientific Adviser of SkinBioTherapeutics Plc, said:

"I am very proud of moving the SkinBiotix and AxisBiotix technologies from the lab bench into commercial skin health products, and that they are already having a positive impact. As the understanding of the benefits of the microbiome become even more mainstream, and collaborations with companies like Croda come through, I have every confidence, that my original technologies will form the basis of many other products in the skin health market. I wish the team well and look forward to further successes."

-Ends-

The information communicated in this announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014.

 

For more information please contact:

 

SkinBioTherapeutics plc

Stuart J. Ashman, CEO

Manprit Randhawa, CFO

 

Tel: +44 (0) 191 495 7325

 

Cavendish Capital Markets Limited

(Nominated Adviser & Broker)

Giles Balleny, Dan Hodkinson (Corporate Finance)

Charlie Combe (Broking)

Dale Bellis, Tamar Cranford-Smith (Sales)

 

Tel: +44 (0) 20 7220 0500

 

Instinctif Partners (financial press)

Melanie Toyne-Sewell / Jack Kincade

 

Tel: +44 (0) 20 7457 2020

SkinBioTherapeutics@instinctif.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 the translational dermatology team at the University of Manchester.

The Company is targeting a number of skin healthcare sectors, the most advanced of which are cosmetic skincare and food supplements to modulate the immune system by harnessing the gut-skin axis. In each area SkinBioTherapeutics plans to exemplify its technology through human studies. The Company's first product, AxisBiotix-Ps™, a food supplement to address the symptoms of mild to moderate psoriasis.

The Company listed on AIM in April 2017 and is based in Newcastle, UK. For more information, visit: www.skinbiotherapeutics.com and www.axisbiotix.com.

 

 

 

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