A subsidiary of a life sciences business developing compounds to tackle obesity, high cholesterol, diabetes and skin care has confirmed plans to float on AIM.
Macclesfield-based SkinBioTherapeutics, formerly SkinBiotix, is majority owned by York-headquartered OptiBiotix Health and dedicated to the development of skin biotherapeutics using natural components of the skin microbiome to protect, manage and restore skin health problems.
The planned admission of SkinBioTherapeutics will bring in non-dilutive funding and creates the opportunity to drive the development and commercialisation of its SkinBiotix technology platform to address markets in skin health including cosmetic skin care, health care acquired infections and eczema.
Stephen O’Hara, chief executive of OptiBiotix, said: "The rapid development and growing awareness in the microbiome have been matched by OptiBiotix's progress in a number of diverse areas of key scientific and commercial interest.
"OptiBiotix’s skin division has built its own IP, team, and development programmes to a point where the Board believe the scale of the opportunities offered by its SkinBiotix’s technology in the biotherapeutic space may be best realised by separate listing.
"As a majority shareholder in SkinBioTherapeutics, OptiBiotix's board believe this provides the necessary resources to grow SkinBiotherapeutics and create the potential for substantial future value enhancement."
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