Stuart Ashman, chief executive of SkinBioTherapeutics PLC (AIM:SBTX), hailed 2021 as a landmark year, saying: “We have transformed ourselves from a research and product development business to a commercial one.”
AxisBiotix-Ps, a food supplement targeting psoriasis symptoms, was launched in October. Early sales have been made in the UK and US with expansion into Europe set to happen towards the start of next year, investors were told.
At the same time, its programme with speciality chemicals giant Croda is apparently making “good progress”. This is focused on the uses of the group’s SkinBiotix technology, which is based upon discoveries made by professors Catherine O'Neill and Andrew McBain.
The updates came alongside full-year results from SkinBioTherapeutics. The company, which invested heavily in R&D ahead of the launch of AxisBiotix-Ps, made a loss of just under £1.5mln for the 12 months ended June 30. As of that date it had cash of £4.6mln.