SkinBioTherapeutics plc (LON:SBTX) a life sciences company focused on skin health, has announced its full year results for the year to 30 June 2017.
Key highlights
— Research agreement with the University of Manchester for ‘development of a bacterial lysate as a novel agent to combat infections’
-- Successful demonstration of the three modes of action of the SkinBiotix(R) technology
— Creating a strong Board and management team for the development and commercial phase of the Company
-- Admission to AIM in April 2017 raising GBP4.5m -- Initiating scale up of lysate manufacture with third parties -- Cash as at 30 June 2017 GBP3.9m (2016: GBP0.3m)
— Post year end: SkinBiotix(R) passed cytotoxicity test, representing first key milestone post IPO
Cath O’Neill, CEO of SkinBioTherapeutics, said: “This has been a significant year for the Company; from creating the infrastructure and team to support the growth and development of the Company, to the scientific progress around our proprietary skin platform, SkinBiotix(R).
“During the year, we have demonstrated three significant properties – barrier improvement, anti-infection and repair – which form the foundations of our three development programmes. We are making good scientific headway and are starting initial discussions with partners.
“Operationally, we have made a good start to the new financial year, especially with the recent news around the third party cytotoxicity testing, and we look forward to reporting on the next phase of the Company’s journey.”