SkinBioTherapeutics PLC Product Development Progress (6861U)

TIDMSBTX

RNS Number : 6861U

SkinBioTherapeutics PLC

31 July 2020

31 July 2020

SkinBioTherapeutics plc

("SkinBioTherapeutics" or "the Company" or "the Group")

Product Development Progress

   --    Cosmetic programme achieves key scientific milestones with its partner Sederma (Croda) 

-- Company targeting an accelerated psoriasis food supplement trial in early 2021 to facilitate launch of AxisBiotix product

SkinBioTherapeutics plc (AIM: SBTX), a life science company focused on skin health, provides an update on its product development programmes.

Cosmetic skincare

Sederma, the division of Croda Plc that specialises in the manufacture of bioactive ingredients for the cosmetic industry, has updated the Company on progress of its ongoing collaboration and confirmed that;

-- Sederma has successfully replicated the lysate manufacturing process and achieved the same performance from the SkinBiotix(R) technology as established by the Company

-- Sederma is now working to validate scale up of the manufacturing process at different volume levels

-- The project is progressing in line with the original plan and has not been adversely impacted by COVID-19.

Sederma will be responsible for the development, manufacture and commercialisation of the SkinBiotix (R) technology, with any products resulting from this programme being sold to Croda's global portfolio of Personal Care customers. SkinBioTherapeutics will be paid tiered royalties based on global sales revenues on any licensed products derived from the partnership.

Acceleration of psoriasis food supplement trial

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.

In July (RNS 7 July 2020) the Company reported that several months ahead of schedule, Winclove had successfully combined and formulated the blend as a probiotic food supplement, to be known as AxisBiotix (TM)Ps.

In light of the current restrictions with regards to non-COVID related human studies, the Company has established a protocol for, and is proceeding with, a 'self-managed' food supplement trial.

Participants suffering from mild to moderate psoriasis will be invited to participate in a human study in which they will be provided with samples of AxisBiotix (TM)Ps to self-administer over an eight week period and track the impact of the food supplement on their skin condition. Participants will submit their findings on a periodic basis through a bespoke mobile device app, thus avoiding the need for clinical attendance. This will accelerate the timing of readout compared to the previously envisaged conventional study. As a result, if the findings are positive, this will allow for a significantly earlier commercial launch than originally planned. The Company anticipates commencing the trial in early 2021.

Stuart Ashman, CEO of SkinBioTherapeutics, said:

"We have seen significant positive progress made on the first of our commercial programmes in recent weeks. In such an important scientific milestone, it is reassuring and provides validation of our approach that Sederma has been able to replicate the activity of the SkinBiotix technology and is pushing ahead with the next steps of the project.

"In addition, establishing a clear pathway to commencing a food supplement trial to manage symptoms associated with psoriasis is a great step forward for our collaboration with Winclove. The progress made in such a short period of time is testament to the combined efforts of the SkinBioTherapeutics and Winclove team."

-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: [phone] 
  & Broker)                                       8900 
  Giles Balleny, Max Gould (Corporate Finance) 
  Michael Johnson (Sales) 
 Instinctif Partners                             Tel: [phone] 
  Melanie Toyne-Sewell / Phillip Marriage         2020 
  / Nathan Billis                                 [e-mail] 
 

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 Prof. 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 [e-mail] or visit www.rns.com.

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July 31, 2020 02:00 ET (06:00 GMT)