TIDMSBTX
RNS Number : 4218E
SkinBioTherapeutics PLC
04 July 2019
SkinBioTherapeutics plc
("SkinBioTherapeutics" or the "Company")
Business Update and Board Changes
Manchester, UK - 4 July 2019 - SkinBioTherapeutics plc (AIM:
SBTX or the "Company"), a life sciences company focused on skin
health, announces changes to its Board and executive team and
provides a business update.
Over the course of the last 12 months, SkinBioTherapeutics has
made significant progress with its core technology, achieved a
number of important product development milestones and begun to
position itself for the commercialisation phase of its development.
In addition, the Company has strengthened its financial position
through a placing raising GBP1.5m (RNS: 18 February 2019) and ended
the 12 months to 30 June 2019 with a cash balance of GBP3.1m (30
June 2018 GBP3.2m).
The Company's first human study which focused on skin irritancy,
moisturisation and impact on skin barrier, has been completed (RNS:
7 November 2018, 8 April 2019). The results demonstrated both
safety and efficacy, providing the Company the data required to
move forward with scope to further optimise the SkinBiotix(R)
technology.
The Company is continuing its advanced engagement with a number
of potential partners interested in the SkinBiotix(R) technology
and the data generated through the human efficacy study.
Further to the Company's announcement of 29 March 2019 the Board
is pleased to announce that following a successful handover, Stuart
Ashman and Dr. Cath O'Neill will, with immediate effect, transition
to the roles of Chief Executive Officer and Chief Scientific
Officer respectively. Dr O'Neill's primary focus will be on the
scientific development of the Company, whilst Mr Ashman looks to
the future strategic direction of the Company and extended
commercial opportunities.
In addition, the Board is to establish a Scientific Advisory
Board (SAB), of which Dr O'Neill will be a member. The SAB will be
chaired by Dr Cathy Prescott, a Non-Executive Director of the
Company. In conjunction with the transition to the CSO role and as
a member of the SAB, Dr O'Neill is stepping down from the Board of
the Company with immediate effect.
Given the continuing positive progress of the Company and his
increasing commitments at OptiBiotix Health Plc, Stephen O'Hara is
today stepping down from his position as Non-Executive Director of
the Company.
Martin Hunt, Non-Executive Chairman of SkinBioTherapeutics,
commented:
"On behalf of the Board of SkinBioTherapeutics, I would like to
reiterate my previous thanks to Cath for the pivotal role she has
played as CEO in founding the Company and leading it through the
IPO and its early life as a listed company. As a technology-driven
company we will continue to benefit from her substantial knowledge
and expertise in her new role as CSO. We also thank Stephen for his
contribution as a Board member and wish him continuing success at
OptiBiotix.
"Following a recent strategic planning session with the
executive team, it is clear that the Company is now driving towards
commercialisation with the skin product and has a broad and wide
range of other opportunities available to it. The Board is
confident that, with Stuart as the new CEO and Cath as CSO, the
Company is in good hands for its next phase of development."
Stuart Ashman, Chief Executive Officer of SkinBioTherapeutics,
said:
"SkinBioTherapeutics' development and growth is based on a solid
scientific foundation which has been driven by Cath. The Company's
technology, SkinBiotix(R), is now well placed in an increasingly
active market segment and I am very happy to continue working
closely with Cath and the team to grow the business further. My
immediate focus for the Company will be to advance the ongoing
commercial discussions whilst continuing the clinical development
of the SkinBiotix(R) technology."
Stephen O'Hara, Non-Executive Director of SkinBioTherapeutics,
said:
"SkinBioTherapeutics has made strong progress since its
admission to AIM under Cath's stewardship. As the Company becomes
more commercially orientated with the appointment of Stuart as CEO,
it is an appropriate time for me to step down from the Board. I'd
like to thank Cath for her contribution to date and as a major
shareholder in the Company I will continue to remain engaged with
the team and support the Company's future progress where I am
able."
The information communicated within this announcement is deemed
to constitute inside information as stipulated under the Market
Abuse Regulations (EU) No. 596/2014 and has been arranged for
release by Doug Quinn, CFO of the Company. Upon the publication of
this announcement, this inside information is now considered to be
in the public domain.
For more information please contact:
SkinBioTherapeutics plc Tel: +44 (0) 161 468 2760
Martin Hunt, Chairman
Cairn Financial Advisers LLP (Nominated Tel: +44 (0) 20 7213 0880
Advisor)
Tony Rawlinson / Sandy Jamieson
/ Richard Nash
Turner Pope Investments (Joint Tel: +44 (0) 20 3621 4120
Broker)
Ben Turner / James Pope
Tel: +44 (0) 20 3470 0470
SP Angel Corporate Finance (Joint
Broker)
Vadim Alexandre / Abigail Wayne
Instinctif Partners Tel: +44 (0) 20 7457 2020
Melanie Toyne-Sewell / Deborah SkinBio@instinctif.com
Bell
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 Dr. Catherine
O'Neill and Professor Andrew McBain.
SkinBioTherapeutics' platform applies research discoveries made
on the activities of lysates derived from probiotic bacteria when
applied to the skin. The Company has shown that the SkinBiotix(R)
platform can improve the barrier effect of skin models, protect
skin models from infection and repair skin models. Proof of
principle studies have shown that the SkinBiotix(R) platform has
beneficial attributes applicable to each of these areas.
SkinBioTherapeutics received seed funding from the Tech Transfer
office of the University of Manchester for the discovery of
SkinBiotix(R). The platform was subsequently spun out of the
University of Manchester in March 2016 and was funded by OptiBiotix
(AIM: OPTI).
The Company joined AIM in April 2017, concurrent with raising
GBP4.5 million from a placing of new ordinary shares.
The Company is based in Manchester, UK. For more information,
visit www.skinbiotherapeutics.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.
END
MSCCKNDDABKDFOK
(END) Dow Jones Newswires
July 04, 2019 02:00 ET (06:00 GMT)
Grafico Azioni Skinbiotherapeutics (LSE:SBTX)
Storico
Da Feb 2024 a Mar 2024
Grafico Azioni Skinbiotherapeutics (LSE:SBTX)
Storico
Da Mar 2023 a Mar 2024