SkinBioTherapeutics PLC (LON:SBTX) has said it is planning a 'self-managed' human study of its AxisBiotix programme targeting psoriasis in the first quarter of next year.
And, subject to a positive read-out, it expects to begin commercialising a product, investors were told in an update running alongside the firm’s full-year results.
The market will also be keenly tracking the progress of SkinBiotix, a cosmetic additive being developed under a deal the company has with FTSE 100 speciality chemicals and ingredients giant Croda International PLC (LON:CRDA). The launch of this new line is expected in 2022.
The prelims charted a period of significant progress for SkinBioTherapeutics, which has innovations targeting the ecosystem that exists on the skin and which is part of the human microbiome.
As well as the Croda deal, it also has an agreement with the Dutch firm Winclove Probiotics to develop a blend of 'good' bacteria strains to help manage the symptoms associated psoriasis.
Financially, the group remains well placed for the year ahead. It finished the 12 months to June 30, 2020, with £2.2mln in the bank and topped this up last month with a further £4.45mln from a placing and open offer.
“The funding, aligned with the scientific and operational progress of the last 12 months, leaves the company ideally positioned to push forward with its strategy which offers exciting potential over the course of the next 24 months,” said chairman, Martin Hunt in the results statement.
In common with most companies at the formative stages of commercialisation, SkinBioTherapeutics was loss-making. The loss after tax was £1.62mln vs. £1.36mln the year earlier.
