First day of dealings - to trade under SBTX ticker

RNS Number : 5941B

SkinBioTherapeutics PLC

05 April 2017

 

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM THE UNITED STATES OF AMERICA (INCLUDING ITS TERRITORIES AND POSSESSIONS, ANY STATE OF THE UNITED STATES AND THE DISTRICT OF COLUMBIA) (THE "UNITED STATES"), AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA, THE REPUBLIC OF IRELAND OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL

SkinBioTherapeutics plc

First day of dealings

Company to trade under ticker code SBTX

5 April 2017 - Manchester, UK - SkinBioTherapeutics plc (AIM: SBTX, the "Company"), a life science company focused on skin health, announces the commencement of dealings in its Ordinary Shares on AIM at 8:00a.m. today under the ticker code SBTX and the ISIN number: GB00BF33H870.

The placing, conducted by Turner Pope Investments (TPI) Limited, has raised £4.5 million (gross) at a price of 9 pence per share (the "Placing"), including a cornerstone investment from leading UK equity investor Seneca Partners Ltd.

The nominated adviser to the Company is Cairn Financial Advisers LLP. The Company's Admission Document will be available from 8:00a.m. at www.skinbiotherapeutics.com.

Placing statistics

Placing Price	9p per share
Number of Ordinary Shares in issue immediately following the Placing	118,708,494
Gross proceeds of the Placing	£4.5 million
Estimated net proceeds of the Placing receivable by the Company	£4.1 million

Dr. Catherine O'Neill, CEO of SkinBioTherapeutics, said:

"Joining AIM is a significant milestone for SkinBioTherapeutics and will give us the visibility we need amongst the established global players we look to partner with.

"The funds raised will enable us to progress the SkinBiotix® technology platform and to accelerate the clinical development of our main therapeutic candidates.

"This is an exciting time to be in the microbiome space, especially with regards to skin health. We have an experienced team and Board, plus the financial and shareholder support to maximise this opportunity."

The Business

·    SkinBioTherapeutics was formed as a spin-out from the University of Manchester, with the scientific discoveries that comprise the Company's Technology platform (SkinBiotix®) coming from the work performed by Dr. Catherine O'Neill, the Company's CEO and Professor Andrew McBain

·    The Company has early mover advantage in using bacteria derived from probiotic organisms in order to modulate the skin

·    Proof of principle has been achieved for its SkinBiotix® technology in human skin models, successfully demonstrating the technology's three modes of action - skin protection, skin management and skin restoration

·   The Company looks to target three specific markets; cosmetic products for sensitive skin, infection control and dermatological conditions, such as eczema

·    It seeks to target these markets via partnering with established sector companies through licencing deals. Such an approach offers the Company access to a greater share of the market than if it acted alone

·    The Board of SkinBioTherapeutics has a range of experience including fund-raising, early phase corporate development in life science companies and operating in public markets. Certain members of the Board and management possess core scientific and product development expertise, with experience leading new product concepts into human studies

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

-Ends-

For further information, please contact:

SkinBioTherapeutics plc Dr. Catherine O'Neill, CEO Douglas Quinn, CFO	Tel: [phone]
Instinctif Partners Melanie Toyne-Sewell / Alex Shaw	Tel: [phone] [e-mail]
Cairn Financial Advisers LLP (Nominated Adviser)	Tel: [phone]
Tony Rawlinson / Emma Earl / Richard Nash
Turner Pope Investments (TPI) Limited (Broker)	Tel: [phone]
Ben Turner / James Pope

Notes to Editors

About SkinBioTherapeutics plc

SkinBioTherapeutics is a life science company focused on skin health. The Company's proprietary platform technology, SkinBiotix®, is based upon discoveries made by CEO Dr. Catherine O'Neill and Professor Andrew McBain.

SkinBioTherapeutics' platform applies research discoveries made on the activities of lysates derived from probiotic bacteria when applied to the skin.  The Company has shown that the SkinBiotix® platform can improve the barrier effect of skin models, protect skin models from infection and repair skin models.  Proof of principle studies have shown that the SkinBiotix® platform has beneficial attributes applicable to each of these areas. 

SkinBioTherapeutics received seed funding from the Tech Transfer office of the University of Manchester for the discovery of SkinBiotix®. The platform was subsequently spun out of the University of Manchester in March 2016 and was funded by OptiBiotix (AIM: OPTI).

The Company is based in Manchester, UK. For more information, visit www.skinbiotherapeutics.com.

 

 Important notice

Cairn Financial Advisers LLP and Turner Pope Investments (TPI) Limited, which are both regulated in the United Kingdom by the Financial Conduct Authority, are acting exclusively for the Company and no-one else in connection with this announcement and the Placing and Admission. Cairn Financial Advisers LLP and Turner Pope Investments (TPI) Limited will not regard any other person as their client in relation to the matters described in this announcement and will not be responsible to anyone other than the Company for providing the protections afforded to its clients, nor for providing advice in relation to the Placing and Admission, the contents of this announcement or any transaction, arrangement or other matter referred to herein.

No representation or warranty, express or implied, is given by or on behalf of the Company, Cairn Financial Advisers, LLP, Turner Pope Investments (TPI) Limited or any of their respective directors, partners, officers, employees, advisers or any other persons as to the accuracy, fairness or sufficiency of the information or opinions contained in this announcement and none of the information contained in this announcement has been independently verified.

 

END

 

 

MSCEAPLLEFDXEFF