SkinBioTherapeutics plc (AIM: SBTX, the “Company”), a life science company focused on skin health, announces the commencement of dealings in its Ordinary Shares on AIM 5 March 2017 under the ticker code SBTX and the ISIN number: GB00BF33H870.
The placing, conducted by Turner Pope Investments (TPI) Limited, has raised £4.5 million (gross) at a price of 9 pence per share (the “Placing”), including a cornerstone investment from leading UK equity investor Seneca Partners Ltd.
The nominated adviser to the Company is Cairn Financial Advisers LLP. The Company’s Admission Document is available from http://www.skinbiotherapeutics.com
Placing statistics
|
Placing Price |
9p per share |
|
Number of Ordinary Shares in issue immediately following the Placing |
118,708,494 |
|
Gross proceeds of the Placing |
£4.5 million |
|
Estimated net proceeds of the Placing receivable by the Company |
£4.1 million |
Dr. Catherine O’Neill, CEO of SkinBioTherapeutics, said:
“Joining AIM is a significant milestone for SkinBioTherapeutics and will give us the visibility we need amongst the established global players we look to partner with.
“The funds raised will enable us to progress the SkinBiotix® technology platform and to accelerate the clinical development of our main therapeutic candidates.
“This is an exciting time to be in the microbiome space, especially with regards to skin health. We have an experienced team and Board, plus the financial and shareholder support to maximise this opportunity.”
The Business
· SkinBioTherapeutics was formed as a spin-out from the University of Manchester, with the scientific discoveries that comprise the Company’s Technology platform (SkinBiotix®) coming from the work performed by Dr. Catherine O’Neill, the Company’s CEO and Professor Andrew McBain
· The Company has early mover advantage in using bacteria derived from probiotic organisms in order to modulate the skin
· Proof of principle has been achieved for its SkinBiotix® technology in human skin models, successfully demonstrating the technology’s three modes of action – skin protection, skin management and skin restoration
· The Company looks to target three specific markets; cosmetic products for sensitive skin, infection control and dermatological conditions, such as eczema
· It seeks to target these markets via partnering with established sector companies through licencing deals. Such an approach offers the Company access to a greater share of the market than if it acted alone
· The Board of SkinBioTherapeutics has a range of experience including fund-raising, early phase corporate development in life science companies and operating in public markets. Certain members of the Board and management possess core scientific and product development expertise, with experience leading new product concepts into human studies.
