SkinBioTherapeutics PLC Update on transaction timelines to early 2024 (1903Y)
2023年12月29日 - 5:13PM
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RNS Number : 1903Y
SkinBioTherapeutics PLC
29 December 2023
SkinBioTherapeutics plc
("SkinBioTherapeutics" or "the Company")
Update on transaction timelines to early 2024
29 December 2023 - SkinBioTherapeutics plc, (AIM: SBTX, or the
"Company"), the life science business focused on skin health,
provides shareholders with an update on its transaction strategy,
with adjustments to timings into Q1 2024.
The Company laid out its strategy in its full year results to
find strategic accretive acquisitions that would provide
complementary products and/or an infrastructure that could provide
accelerated routes to market for the Company's own pipeline. The
Company's aim was for at least one transaction to be completed by
the year end.
Due diligence has largely been completed on the lead project,
which is a supplier of dermatological products, based in the UK. If
finalised, the acquisition will not only provide a ready revenue
stream from product sales but also enable the Company to further
its technology development plans. The Sale and Purchase Agreement
(SPA) is currently being worked on, however legal work around
completion has taken longer than expected (including disruption due
to the holiday period). Therefore, despite management's best
efforts, the target completion date of the first deal is likely to
be early 2024.
The Company is also in advanced due diligence on another target
which is a manufacturer within the dermatology market in the UK.
The management believes that this acquisition also has the
potential to be completed in early 2024.
The Company has various funding options available and would
prefer to use combinations of cash, earn out and stock issuance
wherever possible, and have a Convertible Loan Note already agreed
in the short term for any cash element of a transaction.
-Ends-
For more information please contact:
SkinBioTherapeutics plc Tel: +44 (0) 191 495 7325
Stuart J. Ashman, CEO
Manprit Randhawa, CFO
Cavendish Capital Markets Limited Tel: +44 (0) 20 7220 0500
(Nominated Adviser & Broker)
Giles Balleny, Dan Hodkinson
(Corporate Finance)
Charlie Combe (Broking)
Dale Bellis, Tamar Cranford-Smith
(Sales)
Instinctif Partners (financial Tel: +44 (0) 20 7457 2020
press) SkinBioTherapeutics@instinctif.com
Melanie Toyne-Sewell / Jack Kincade
Notes to Editors
About SkinBioTherapeutics plc
SkinBioTherapeutics is a life science company focused on skin
health. The Company's proprietary platform technology,
SkinBiotix(R) , is based upon discoveries made by Professor
Catherine O'Neill and Professor Andrew McBain.
The Company is targeting a number of skin healthcare sectors,
the most advanced of which are cosmetic skincare and food
supplements to modulate the immune system by harnessing the
gut-skin axis. In each area SkinBioTherapeutics plans to exemplify
its technology through human studies. The Company's first product,
AxisBiotix-Ps(TM), a food supplement to address the symptoms of
mild to moderate psoriasis.
The Company listed on AIM in April 2017 and is based in
Newcastle, UK. For more information, visit :
www.skinbiotherapeutics.com and www.axisbiotix.com.
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END
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(END) Dow Jones Newswires
December 29, 2023 03:13 ET (08:13 GMT)
Skinbiotherapeutics (LSE:SBTX)
過去 株価チャート
から 5 2024 まで 6 2024
Skinbiotherapeutics (LSE:SBTX)
過去 株価チャート
から 6 2023 まで 6 2024