Life sciences group OptiBiotix Health PLC (LON:OPTI) has advanced its skin biotherapeutics subsidiary, SkinBiotix Limited, with a further investment of £400,000.
The cash, from a convertible loan, will provide funding to complete human studies for a first product application as well as to finance an IPO (initial public offering).
OptiBiotix chief Stephen O'Hara said: "OptiBiotix has made strong progress with the development of SkinBiotix.
"We have built the team, added significant IP [intellectual property] and put in place development programmes and plans for human studies with the objective of translating the science into commercial products with large potential global markets."
SkinBiotix is using natural components of the skin microbiome to restore skin health problems.
It is going after large-scale markets in skin health, including cosmetic skin care (US$121bn); health care acquired infections (US$82bn); dermatology (US$10.2bn) and wound care (US$18bn).