Full Year Results
Manchester, UK - 25 October 2018 - SkinBioTherapeutics plc (AIM: SBTX - "SkinBioTherapeutics" or the "Company") a life sciences company focused on skin health, has announced its full year results for the year to 30 June 2018.
- SkinBiotix passed key cytotoxicity safety tests
- Replication of lysate manufacturing process by a third party and successful industrial volume scale-up
- Production of a cream formulation that demonstrated effectiveness of SkinBiotix technology
- Expansion of intellectual property portfolio, with patents granted in Australia, Russia and New Zealand
- Signing an MTA (Material Transfer Agreement) with global consumer goods company
- Ethics approval for cosmetic human study
- Extension to University of Manchester research agreement
- Cash as at 30 June 2018 £3.2m (2017: £3.9m)
- Post year end: commenced first human cosmetic studies
Cath O'Neill, CEO of SkinBioTherapeutics, said:
"This year, our focus has been on preparing the SkinBiotix technology for its first human study and longer-term preparations for commercialisation. On both fronts, we have made good progress.
"Firstly, we have demonstrated that our lysate can be freeze dried and scaled-up to industrial levels. On the commercial front, we have an ongoing dialogue, including an MTA, with a range of major FMCG and cosmetic companies who are taking a close interest in our technology and progress.
"Post year end, we initiated the cosmetic human studies which was a major milestone for the Company. On the basis that the results are positive, the validation will strengthen our position as a science-led business and enable further commercial discussions."25th October, 2018