SkinBioTherapeutics plc (LON:SBTX), a life science company focused on skin health, has today provided the following update:
The Company, with its third party manufacturer, has now achieved significant manufacturing scale up, with no detrimental impact upon the active properties of the SkinBiotix® technology.
In addition the material, which to date has been manufactured and supplied in a liquid form, has now been successfully freeze dried. The ability to freeze dry the material is an important steps towards commercialisation as it enables mass production, storage and transportation.
The SkinBiotix® technology has been shown to be stable and effective within the cream formulation for 24 hours. The human study, which is due to commence in September, is subject to the Company’s ongoing work to confirm stability of the current formulation over an extended timeframe. The Company expects to provide an update on this in the coming weeks.
The Company ended the 12 months to 30 June 2018 with a cash balance of £3.2m (31 December 2017: £3.6m).
The Company will publish its full year results in October.
Dr Cath O’Neill, CEO of SkinBioTherapeutics plc, commented: “The progress we’ve made so far in manufacturing and freeze-drying the lysate is very encouraging. The current formulation is undergoing extended stability studies in preparation for the human study.”