Circular for Proposed Placing and Open Offer
Proposed Placing and Open Offer
SkinBioTherapeutics plc (AIM: SBTX or the “Company”) a life sciences company focused on skin health, is pleased to announce it has conditionally raised £4.0 million by way of a Placing to new and existing institutional investors.
Furthermore, to enable other Shareholders who are not able to participate in the Placing an opportunity to subscribe for new Ordinary Shares, the Company is proposing to raise up to an additional c.£0.5 million by way of an Open Offer made to Qualifying Shareholders.
SkinBioTherapeutics assessing options for a ‘rapid trial’ of its food supplement
Half year results
Manchester, UK – 03 March 2020 – SkinBioTherapeutics plc (AIM: SBTX or the “Company”) a life sciences company focused on skin health, announces its unaudited half year results for the six months to 31 December 2019.
Operational and financial highlights
- New strategy presented to shareholders, defining five pillars of development and commercial focus
- Signed first commercial agreement in November 2019, with Croda International Plc (“Croda”), using SkinBiotix® as the foundation of an active skincare ingredient
- Post period end, signed a development agreement around the skin-gut axis with Winclove Probiotics B.V. (“Winclove”) to create a specialist probiotic food supplement targeting psoriasis
- Loss from operations of £889k (H1 2018: £632k) with increase due to R&D and operating expenditure
- Cash as at 31 December 2019 £2.5m (30 June 2019: £3.1m), in line with management’s expectations