Having shared the initial pre-clinical data with a number of interested parties, one potential partner to date has progressed to a material transfer agreement - a standard agreement governing the transfer of material between parties enabling the recipient to assess the technology.
Should the unnamed consumer goods company like what it sees, the arrangement could lead to a commercial arrangement between the two companies.
While at this stage there can be no certainty that discussions will progress further than the initial sharing of the technology, SkinBioTherapeutics is encouraged by the level of interest that has been shown in its pre-clinical data.
The company is initially targeting cosmetic skin care and in this market, SkinBioTherapeutics' skin microbiome technology is unusual in that its properties are supported by scientific data, SkinBio said.
The demonstrated properties support potential opportunities for the company in cosmetics, anti-infectives and dermatological indications (e.g. eczema).
"Whilst these are early discussions, we are encouraged that a company of this calibre wants to look at our technology more closely through an MTA. Even at this early stage of its development, we are pleased to see that SkinBiotix is starting to generate a buzz in the skin care industry," said Dr Cath O’Neill, the chief executive officer of SkinBioTherapeutics.
Motif’s joint broker, Northland Capital Partners, said: “It is encouraging that SkinBio Therapeutics is progressing to an MTA with a global consumer goods company. This demonstrates the potential commercial promise of the company’s technology.”
Shares in Motif were up 5.9% at 9p in lunchtime trading.
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