
SkinBioTherapeutics
plc
("SkinBioTherapeutics" or "the Company")
Completion of Acquisition of
Dermatonics Limited
26
January 2024 - SkinBioTherapeutics
plc (AIM: SBTX, or the "Company"), the life science business
focused on skin health, announces that it has completed the
acquisition of the issued share capital of Dermatonics Limited, a
specialist in innovative topical and dermatological products in the
skincare/woundcare space.
The initial consideration is £1.68
million plus £1.25 million earn-out over three years, in a
cash-free and debt-free acquisition. Clearance of funds have now
been drawn down from the convertible bond facility announced
yesterday for the acquisition.
Stuart Ashman, CEO of
SkinBioTherapeutics, said:
"We are delighted to have completed the transaction with
Dermatonics. As we said in the announcement yesterday, this
acquisition aligns directly with the inorganic growth strategy we
outlined in our FY results last year. This is an accretive deal
that provides immediate benefits through synergies and accelerated
routes to market. Our focus now is to integrate the two businesses
and build value for our shareholders."
-Ends-
Reminder of Shareholder presentation and
Q&A
CEO, Stuart Ashman, and CFO, Manprit
Randhawa, will provide a live presentation about the terms and
rationale of the acquisition of Dermatonics and the financing
details via the Investor Meet platform on Friday 26 January at 10:00 am
GMT.
The presentation is open to all
existing and potential shareholders. Questions can be submitted
pre-event via your Investor Meet Company dashboard at any time
during the live presentation.
Investors can sign up to Investor
Meet Company for free and add to meet SkinBioTherapeutics at the
link
HERE.
Investors who already follow
SkinBioTherapeutics on the Investor Meet Company platform will
automatically be invited.
A recording of the presentation will
be available shortly afterwards on the SkinBiotherapeutics investor
relations section of the website HERE.
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
Stuart J.
Ashman, CEO
Manprit Randhawa, CFO
|
Tel: +44 (0) 191 495
7325
|
Cavendish Capital Markets Limited
(Nominated Adviser & Broker)
Giles Balleny, Dan Hodkinson
(Corporate Finance)
Charlie Combe (Broking)
Dale Bellis, Tamar Cranford-Smith
(Sales)
|
Tel: +44 (0) 20 7397
8900
|
Instinctif Partners (financial press)
Melanie Toyne-Sewell / Jack
Kincade
|
Tel: +44 (0) 20 7457
2020
SkinBioTherapeutics
@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®, 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™, 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.
Caution regarding forward looking statements
Certain statements in this announcement, are, or may be deemed
to be, forward looking statements. Forward looking statements are
identified by their use of terms and phrases such as ''believe'',
''could'', "should" ''envisage'', ''estimate'', ''intend'',
''may'', ''plan'', ''potentially'', "expect", ''will'' or the
negative of those, variations or comparable expressions, including
references to assumptions. These forward-looking statements are not
based on historical facts but rather on the Directors' current
expectations and assumptions regarding the Group's future growth,
results of operations, performance, future capital and other
expenditures (including the amount, nature and sources of funding
thereof), competitive advantages, business prospects and
opportunities. Such forward looking statements reflect the
Directors' current beliefs and assumptions and are based on
information currently available to the Directors.