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SkinBioTherapeutics’ has big plans for SkinBiotix

Snapshot

  • Spun out from OptiBiotix in 2017
  • Harnesses good bacteria to improve and support skin
  • Ex-Smith & Nephew marketing director SkinBio’s new CEO
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Quick facts: SkinBioTherapeutics PLC

Price: 19.75 GBX

AIM:SBTX
Market: AIM
Market Cap: £25.3 m
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I can see everybody having a place for [SkinBiotix-based products] in their daily regime in one shape or another. Why would you not use something that is clinically proven to make you either look or feel better?

Stuart Ashman, chief executive

 

What it does

The clue is in the name: SkinBioTherapeutics PLC (LON:SBTX) is a Manchester-based life sciences company focused on skin health.

It was spun out from OptiBiotix Health PLC (LON:OPTI) a couple of years ago, and Opti remains the majority shareholder.

SkinBio’s SkinBiotix platform uses lysates (extracts) of probiotic bacteria – the ‘good’ bacteria – and has been shown to improve the barrier effect of skin models, improve repair and reduce bacterial load.

Think of SkinBiotix as the skincare equivalent of Intel or GoreTex: eventually, SkinBio wants to license out the technology so it becomes a key ingredient in products such as skin cream, or tablets or food supplements.

There is a host of other potential uses as well, from handwash to make up to a powder you mix into your coffee.

For the time being, the company is focused on three skincare sectors: cosmetics, infection control and eczema.

 

How it's doing

The most advanced programme is focused on the application of the SkinBiotix platform in managing sensitive skin in the cosmetics industry.

Data from the first in-human study in April showed that a cream containing SkinBiotix was well tolerated and efficacious in certain age groups and at certain time points.

The readout showed that the under 50s group saw a statistically significant increase in skin hydration at day 15, though at day 29 there was no difference in hydration across all the groups monitored.

There was also a small, but statistically significant decrease in transepidermal water loss – skin dehydration – at day 29 in the over 60s cohort.

In November, SkinBio inked its first commercial agreement for its skincare product, Skinbiotix, with FTSE100 speciality chemical company Croda International Plc (LON:CRDA).

Full financial terms were not revealed; however, SkinBioTherapeutics will receive “tiered royalties” on sales of any products that result from the partnership.

Through the deal, it gives access to its science, and in return, it gets access to Croda subsidiary Sederma's  2,000 cosmetic customers and a validated source of supply that it can use in other applications.

Skinbio has also teamed up with Dutch firm called Winclove Probiotics to develop a food supplement to combat psoriasis.

The management team is targeting further commercial progress in the areas of MediBiotix, where it is focusing on medical device applications, and CleanBiotix during the course of the year.

Revenue in the half-year to December were  £889,000, compared to a loss in the second half of 2018 of £632,000.

Cash and cash equivalents at the end of the year stood at £2.48mln, little changed from £2.52mln a year earlier. 

 

Inflexion points 

  • More commercial deals for Skinbiotix
  • Revenue momentum continues to build
  • Deals for MediBiotix in medical device applications and CleanBioti

 

 

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