TIDMSBTX
RNS Number : 1729R
SkinBioTherapeutics PLC
25 October 2023
SkinBioTherapeutics plc
("SkinBioTherapeutics" or "the Company")
SkinBioTherapeutics to commence new consumer study into acne
Trading update for Full Year 2023
Change of Auditor
Acne Study:
-- Two new formulas to be trialled to compare efficacy against the most common skin condition
-- To take place in the UK, involving 300 participants who have acne-prone skin
-- Study to be conducted in partnership with Winclove Probiotics
-- Completion of study expected by the end 2023, with results in Q1 2024
Trading Update for Full Year June 2023:
-- Trading and cash for the full year to June 2023 in line with expectations
-- Full year results will be announced at the end of November
-- Change to Company's auditors due to auditors' corporate reorganisation
25 October 2023 - SkinBioTherapeutics plc (AIM: SBTX, or the
"Company"), the life science business focused on skin health,
announces that the Company is commencing a consumer study into a
novel acne formula. Furthermore, the Company announces an update on
trading for the full year to June 2023 and an update on the
Company's auditors.
Acne consumer study
Two separate blends, specifically formulated by Dutch food
supplement provider Winclove Probiotics BV, will be tested
side-by-side in a consumer volunteer study to determine which has
better efficacy. The Company aims to target the inflammatory
pathways that are associated with irritable skin conditions like
acne. The blends will be supplied to participants in powder-form
for the study, however this may not be the final formulation form
for a potential commercial product.
The study will involve 300 UK-based participants with acne-prone
skin, who will be recruited online via a pre-qualification
questionnaire form. 150 randomly selected participants will receive
product 1, the other half of the group will receive product 2.
The products will be mailed to participants who are expected to
record their experience of using the product in a weekly
questionnaire over eight weeks, over which they are expected to
take the product daily. A follow-up questionnaire will be provided
one month after the participants stop taking their allocated
product.
The benefit of undertaking a consumer study is the relatively
short time and cost compared to a clinical study. The study is
expected to be completed by the end of 2023 with results reported
in Q1 2024.
Stuart Ashman, CEO of SkinBioTherapeutics, said:
"This study is potentially a major step towards the
commercialisation of a new probiotic treatment that could address
the root causes of conditions like acne. Acne, and related
irritable and inflammatory conditions are not just skin deep -
there is considerable evidence to suggest that it is caused by an
imbalance in the gut-skin axis, where the absence of certain
strains of bacteria and the over presence of others can stimulate
excessive sebum production. Our probiotic formulation aims to
correct this imbalance in the same manner as our psoriasis product
- AxisBiotix-Ps(TM) ."
Acne is a skin condition that develops when pores get clogged
with dead skin, bacteria, and dried skin oil buildup, which leads
to redness, tenderness, pimples, nodules, or cysts primarily on the
face, back, or chest. Up to 85% of people will suffer from acne at
some point in their life. Although not life-threatening, acne can
cause irritation and life-long scarring, and can negatively impact
a person's mental health and self-esteem.
The strong desire to alleviate the symptoms makes the global
acne market worth US$10.5 billion in 2022 with CAGR of 5.1%
[Source: Fortune Business Insights 20 23]. The UK acne therapeutics
market size is at around $261m in 2022 and is projected to reach
$377m in 2030, exhibiting a CAGR of 4.7%. 34% of adults in the UK
have experienced acne at some time in their lives and 11.5% of
adults presently have acne [Source: Insights10]. Overall, this
means that acne is the most common skin condition and one of the
top 10 most prevalent diseases worldwide.
Trading update for FY23
Trading for the full year to June 2023 was in line with market
expectations. Cash at year end was GBP1.3m, ahead of expectations
of GBP1.1m, and the Company continues to control its costs. The
Company will update shareholders when the full year results are
published in November 2023.
Since the year end, the Company has continued to roll out
AxisBiotix-Ps with approval in France and Italy to add to the
previously announced launch in Spain. The Company also continues to
progress the development of the Acne product with launch of a
consumer study.
As previously noted, the Company's partner, Croda is looking to
undertake additional studies on SkinBiotix(TM) based on the
discovery of significant additional bacterial activity. The studies
are expected to commence in Q4 2023 with results in Q1 2024.
The Company continues to actively monitor potential accretive
M&A targets and has been encouraged by its initial engagement
with a number of potential targets. The Board hopes to be able to
complete at least one accretive transformational acquisition in the
near term.
Update on the Company's auditors
Following a business reorganisation, Jeffreys Henry LLP has
indicated that it will resign as the Company's Auditor as the firm
will provide audit services to clients from another company in the
group, Gravita Audit Limited. Gravita Audit Limited has been
appointed as the Company's auditor for the financial year ending 30
June 2023. This was announced in the Company's FY22 Annual
Report.
Jeffreys Henry LLP has confirmed to the Company that, in
accordance with Section 519 of the Companies Act 2006, there are no
circumstances in connection with its resignation which it considers
need to be brought to the attention of the Company's members or
creditors.
-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 Adviser & Broker) Tel: +44 (0) 20 7397 8900
Giles Balleny, Dan Hodkinson (Corporate Finance)
Charlie Combe (Broking)
Dale Bellis, Tamar Cranford-Smith (Sales)
Instinctif Partners (financial press) Tel: +44 (0) 20 7457 2020
Melanie Toyne-Sewell / Adam Loudon / Jack Kincade SkinBioT herapeutics @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(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.skinbiotherapeutics.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
TSTPPGMAUUPWGRC
(END) Dow Jones Newswires
October 25, 2023 02:25 ET (06:25 GMT)
Skinbiotherapeutics (LSE:SBTX)
Gráfica de Acción Histórica
De Mar 2024 a Abr 2024
Skinbiotherapeutics (LSE:SBTX)
Gráfica de Acción Histórica
De Abr 2023 a Abr 2024