SkinBioTherapeutics PLC on Wednesday said that a partner has plans to undertake additional studies on SkinBiotix, which could enhance its commercial potential.

SkinBioTherapeutics is a Newcastle Upon Tyne, England-based life science company focused on skin health. Its partner Sederma is a division of Croda International PLC, a Yorkshire, England-based speciality chemicals company.

SkinBioTherapeutics first signed a commercial agreement with Croda in November 2019, under the terms of which Sederma was made responsible for the development, manufacturing and commercialisation of SkinBiotix technology.

The further studies are expected to take an additional three to four months, and would run from November 2023 through to the first quarter of 2024.

Any licensed products resulting from the agreement with SkinBioTherapeutics will be sold to Croda’s global portfolio of Personal Care division customers.

‘We have recently observed some additional unexpected technical benefits during our projected scale-up activities which, if shown to be efficacious through further in-vitro and in-vivo clinical trials, would then offer significant supplementary applications and greater product valorisation as a skin care cosmetic active,’ said Damian Kelly, vice president of innovation & technology development at Croda Europe Ltd.

SkinBioTherapeutics Chief Executive Officer Stuart Ashman said: ‘We remain pleased with the progress of our partnership with Croda even though we have not been able to say much about the work underway for commercial sensitivity reasons and we are encouraged by the reaction from the Sederma team. We also share their belief that there may be additional properties which could enhance the sales opportunity of SkinBiotix.’

SkinBioTherapeutics shares were trading 11% lower at 15.50 pence each in London on Wednesday morning. Croda International shares were trading 0.2% lower at 6,722.00 pence each.

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