SkinBioTherapeutics (LON: SBTX) has signed an exclusive UK agreement with Superdrug Stores for the AxisBiotix food supplements that alleviate symptoms of inflammatory skin conditions, particularly psoriasis.
Superdrug will sell AxisBiotix-Ps (for treating psoriasis) and still to be launched AxisBiotix-Ac (for treating acne) on an exclusive basis for two years. They will start to go into Superdrug stores with the highest sales of skincare products in September with a roll-out to the others next year. The initial sales will be in powdered form, but later on they will be sold in capsule and gum forms.
On the back of this deal SkinBioTherapeutics is raising £4.1m at 17p/share. A retail offer could raise up to £615,000 more. The minimum subscription is £100. The share price edged up 0.7% to 17.375p.
The company has been selling AxisBiotix-Ps online and sales remain relatively modest. The Superdrug deal should accelerate growth and help to provide a better launch for the new acne treatment.
SkinBioTherapeutics has been granted Seal of Recognition by the US National Psoriasis Foundation (NPF) and it is being included in the organisation’s product directory.