Shares in SkinBioTherapeutics PLC (AIM:SBTX) rose 6% after the company confirmed it had finalised terms with Croda PLC for the commercial launch of its SkinBiotix technology.
The agreement includes royalties based on global sales of products developed using SkinBiotix.
This milestone follows an extended testing phase by Croda, which uncovered new benefits of SkinBiotix, enhancing its appeal in the cosmetics market.
Positive trial results have moved the product into the marketing phase, with its public debut scheduled at the In-Cosmetics Global exhibition in April.
SkinBioTherapeutics said it retains rights to explore other applications for its technology, as Croda focuses on cosmetics.
The partnership strengthens the AIM-listed company's financial outlook, with management forecasting positive cash flow by fiscal year 2025.
In early trading, the stock was changing hands for 15.04p, up 0.79p.