Source - LSE Regulatory
RNS Number : 6835D
SkinBioTherapeutics PLC
20 February 2024
 

A blue text on a white background Description automatically generated

 

SkinBioTherapeutics plc

("SkinBioTherapeutics" or "the Company")

 

Dermatonics and partner, Umesh Modi Group, to launch
Pheet and Dermatonics Once Heel Balm in Asia, Middle East and Africa

 

20 February 2024 - SkinBioTherapeutics plc, (AIM: SBTX, or the "Company"), the life science business focused on skin health, announces that its newly acquired company Dermatonics is set to launch Pheet and Dermatonics Once Heel Balm in Asia, Middle East and Africa (AMEA) in partnership with the Umesh Modi Group (the Group) following the signing of a manufacturing and distribution agreement on 30 June 2023.

Pheet and Dermatonics products are used for the treatment of dry foot skin and are sold under the Dermatonics brand in the rest of the world. The Once Heel Balm product will be manufactured by the Umesh Modi Group and sold directly by its sales team of over 1,200 people across six countries including India, Bangladesh Sri Lanka and Nigeria. The total addressable market in these regions for dermatology and diabetes management is in excess of £5bn. This collaboration is currently at an early stage, therefore, the management does not expect any changes to current market expectations at this stage.

Umesh Modi Group is a well-known privately-held Indian business conglomerate based in New Delhi, India. It has a strong presence in many sectors including pharmaceuticals, Fast Moving Consumer Goods (FMCG), colour cosmetics, alcoholic drinks, sugar, engineering, power generation, retail and real estate.  Umesh Modi Group is supported by an extensive manufacturing campus producing products to international standards including UK MHRA for pharmaceutical products.

The Group has a series of long-standing partnerships with international companies in Europe and the US, including, pharma and healthcare companies,  Mundipharma (Switzerland),  Merz Pharma (Germany), Zambon (Italy), Pierre Fabre (France), Norgine (UK) and Perrigo (Ireland); drinks company, William Grant (UK); nutrition and biosciences, IFF/Dupont (US) and the cosmetics, skin care, perfume, and personal care group, Revlon Inc (US).

 

Greg Andrell, founder of Dermatonics, said, "We have been working on this project for several months now and the launch of our brands is the end result of a lot of detailed preparation. We are excited by the potential opportunity of building sales in these rapidly growing regions."

 

Will Pugh, Vice President of International Development for the Umesh Modi Group said:

"We are delighted to be ready to launch the Pheet and Dermatonics products. They will be manufactured in-house to our exacting standards and distributed across a geographic region that we know extremely well. With number one positions in the antiseptic (Betadine) and scar management (Mederma/Contractubex) categories, we have the capability and expertise to make the Pheet and Dermatonics brands a big success."

He added: "We have also been delighted to meet the SkinBioTherapeutics management team to discuss additional opportunities brought about by the joining of SkinBioTherapeutics and Dermatonics. We look forward to a long and prosperous relationship."


Stuart Ashman, CEO of SkinBioTherapeutics added: "Agreements of this nature are part of the reason why we acquired Dermatonics. Given this collaboration is currently at an early stage, we do not expect any changes to current market expectations. However, the association with the Umesh Modi Group and the potential to leverage other opportunities for our other products is an added advantage that we are most keen to explore."

-Ends-

 

The information communicated in this announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014.

 

For more information please contact:

 

SkinBioTherapeutics plc

Stuart J. Ashman, CEO

Manprit Randhawa, CFO

 

Tel: +44 (0) 191 495 7325

 

 

 

Cavendish Capital Markets Limited

(Nominated Adviser & Broker)

Giles Balleny, Dan Hodkinson (Corporate Finance)

Charlie Combe (Broking)

Dale Bellis, Tamar Cranford-Smith (Sales)

 

Tel: +44 (0) 20 7220 0500

Instinctif Partners (financial press)

Melanie Toyne-Sewell / Jack Kincade

Tel: +44 (0) 20 7457 2020

SkinBioTherapeutics@instinctif.com


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 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™, a food supplement to address the symptoms of mild to moderate psoriasis.

In January 2024, SkinBioTherapeutics acquired Dermatonics, the specialist in the production of innovative topical and dermatological products in the skincare/woundcare space, with the aim of using natural ingredients wherever possible.

SkinBioTherapeutics listed on AIM in April 2017 and is based in Newcastle, UK. For more information, visit: www.skinbiotherapeutics.com and www.axisbiotix.com.

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
PRLSFIEFUELSEEE
Find out how to deal online from £1.50 in a SIPP, ISA or Dealing account. AJ Bell logo

Related Charts

Skinbiotherapeutics PLC (SBTX)

0p (0.00%)
delayed 15:57PM