TIDMSBTX
RNS Number : 5924Q
SkinBioTherapeutics PLC
19 October 2023
SkinBioTherapeutics plc
("SkinBioTherapeutics" or "the Company")
Extension of Croda contract for SkinBiotix(TM)
Extension of existing contract to enable completion and
assessment of SkinBiotix(TM) skincare studies
19 October 2023 - SkinBioTherapeutics plc (AIM: SBTX, or the
Company), the life science business focused on skin health, has
agreed an extension to the collaboration contract with Sederma,
S.A.S. (" Sederma"), the cosmetics division of Croda International
Plc ("Croda"), for an additional twelve months. This is to enable
Sederma to complete and assess additional studies on SkinBiotix(TM)
to investigate previously unseen beneficial properties, which have
the potential to significantly enhance commercial
opportunities.
Sederma has been investigating how SkinBiotix(TM) can be applied
and has been undertaking additional formal studies and formulations
to establish potential added benefits of the technology. These
studies are due to run from late 2023 into early 2024.
Sederma/SkinBioTherapeutics contract extension
The contract with Sederma was set to run to November 2023. As a
result of findings, Sederma requested a formal extension to the
contract with SkinBioTherapeutics to ensure that the additional
studies can be undertaken. Under the original contract, Sederma is
responsible for the development, manufacturing, and
commercialisation of the SkinBiotix(TM) technology.
However, the contract ensures any costs to SkinBioTherapeutics
of supplying SkinBiotix(TM) for the studies are covered by Sederma.
Any material additional benefits identified from the studies could
be expected to strengthen Sederma's commercial story for
SkinBiotix(TM) as an active ingredient and it therefore may command
a higher price point with future customers.
Croda/Sederma
Croda's Consumer Care division, which includes Sederma, has the
largest active ingredients portfolio in the industry across over
15,000 customer/product combinations. The Group's strategy is to
drive it's market leadership by adding innovative technologies and
reinforcing the substantiation of its ingredient claims.
Sederma is part of Croda's Beauty Active's business unit and is
a specialist in bioactive ingredients for the cosmetic industry.
According to Croda's HY results to 30 June 2023 , the Group
reported that Sederma's premium active ingredients business grew by
over 30% through a mix of geographical expansion and the launch of
new customer products e.g. the new Boots no7 Future Renew
range.
Croda has a global portfolio of personal care customers which
comprise many of the major international cosmetics and FMCG brands.
Revenues from any licensed products derived from the partnership
will generate royalties based on global sales revenues for
SkinBioTherapeutics.
Dr Damian Kelly, Vice President Innovation & Technology
Development at Croda Europe Ltd, responsible for the project
previously said :
"This [SkinBiotix(TM) programme] continues to be a fascinating
project that is heading towards commercialisation and will break
new scientific ground in the use of lysated bacteria in the
cosmetic industry as a skin care active ingredient. We have
recently observed some additional unexpected technical benefits
during our projected scale-up activities which, if shown to be
efficacious through further in-vitro and in-vivo clinical trials,
would then offer significant supplementary applications and greater
product valorisation as a skin care cosmetic active. We are excited
by the findings we have seen thus far and look forward to a long
and prosperous relationship with SkinBioTherapeutics."
On today's news, he added:
" This exciting project continues to move forward along the
roadmap to commercialisation, offering a totally unique ingredient
as a skin active for the cosmetic industry. In-vitro and ex-vivo
studies are complete, and clinical (in-vivo) trials are planned to
conclude in early 2024. Four pilot-scale semi-industrial
fermentation batches, including down-stream processing, have been
completed, and commercial-scale batches are planned for 2024 at
Croda's UK facility. Premium quality formulations have also been
developed. We remain excited about this innovative product and are
appreciative of the working relationship we have with
SkinBioTherapeutics."
The Global Cosmetics Market
The global skincare market size was valued at USD 135.83 billion
in 2022 and is expected to expand at a compound annual growth rate
(CAGR) of 4.7% from 2023 to 2030. Skincare products represent the
largest segment within the cosmetics market, fuelled by the
increasing focus on skincare routines and anti-aging products.
With the increased awareness of the importance of a balanced
skin microbiome, there has been a growing demand for
microbiome-friendly cosmetic products on the basis that they do not
disrupt the natural microbial balance.
As SkinBioTherapeutics' own participant research data has
indicated, products that seek to rebalance the gut and skin
microbiome can contribute to alleviating the symptoms of various
skin conditions, such as acne, rosacea and psoriasis. Cosmetic
companies are developing products specifically designed to address
these conditions by supporting a healthier microbial environment on
the skin.
Stuart J. Ashman, CEO of SkinBioTherapeutics, said :
"We are happy to extend our contract with Croda in order to
continue the most promising work that has been undertaken thus far.
Sederma is a leading organisation in the skincare market and we
have long believed that partnering with them will be mutually
beneficial. We are confident that this can lead to a wider
commercialisation of our Skinbiotix(TM) technology into new
products, which can make a great difference to consumers with a
wide array of skincare needs."
-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 Tel: +44 (0) 191 495 7325
Stuart J . Ashman, CEO
Manprit Randhawa, CFO
Cavendish Securities Plc (Nominated Tel: +44 (0) 20 7397 8900
Adviser & Broker)
Giles Balleny, Dan Hodkinson (Corporate
Finance), Charlie Combe (Broking),
Dale Bellis, Tamar Cranford-Smith
(Sales)
Instinctif Partners (financial Tel: +44 (0) 20 7457 2020
press) SkinBioT herapeutics @instinctif.com
Melanie Toyne-Sewell / Tim Field
/ Adam Loudon
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 Professor
Catherine O'Neill and Professor Andrew McBain.
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(TM), 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.skinbiotix.com and
www.axisbiotix.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.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
MSCNKFBQFBDDKKD
(END) Dow Jones Newswires
October 19, 2023 02:00 ET (06:00 GMT)
Skinbiotherapeutics (LSE:SBTX)
Historical Stock Chart
From Mar 2024 to Apr 2024
Skinbiotherapeutics (LSE:SBTX)
Historical Stock Chart
From Apr 2023 to Apr 2024