SkinBioTherapeutics PLC (AIM:SBTX, FRA:5KW) (LON:SBTX) said its preparation for psoriasis could have applications for other skin conditions as it confirmed the commercial launch of the product is “on track” for the fourth quarter.
In a comprehensive business update, it said further analysis of data from the recent evaluation of AxisBiotix revealed “encouraging potential” to also treat eczema, acne and rosacea.
In May, a study of psoriasis sufferers using the cream found significant reductions in itchiness, redness, irritability and flakiness.
A closer analysis of the data also revealed 71% of eczema sufferers reported less itchiness; reductions in skin irritability, redness and flakiness were also observed.
AxisBiotix-Ps, the psoriasis formulation, is now compliant with the regulatory rules in the US, UK and EU.
The commercial strategy ahead of the fourth-quarter roll-out is to target the US and UK markets initially, investors were told, with the EU following very shortly after.
Excluding shipping and any duty costs, the product will be marketed on a subscription basis and priced per sachet in the US at US$2.00, at £1.50 in the UK and €1.80 in Europe, the company added.
In the update, SkinBioTherapeutics said partner Croda and its active ingredients arm, Sederma, “continue to progress the development” of the firm's SkinBiotix technology as the basis of a new skincare product.
The project is progressing through the manufacturing scale-up. It hopes to be able to produce 20,000 cubic metres by next month, which would be the final step towards commercialisation.
"We are very pleased with the progress the company has been able to make over the first half of this year, both with AxisBiotix-Ps and SkinBiotix,” said chief executive, Stuart Ashman.
"AxisBiotix-Ps is now regulatory compliant in the UK, US and EU and our focus is to continue building a robust supply chain and drive forward the commercialisation process in order to launch the product, on a controlled basis, in Q4 of this year as planned.
"We are also taking a keen interest in the results from participants self-identifying as suffering from eczema, acne or rosacea.
“These initial study results give us the confidence to undertake additional studies and commence the development of additional potential products targeted at assisting in alleviating skin conditions such as these."
Financially, SkinBioTherapeutics is in a strong position with £4.6mln in the bank.