IN BRIEF: SkinBioTherapeutics buys Dermatonics; in talks for 2nd deal
25th Jan 2024 14:57
SkinBioTherapeutics PLC - Newcastle, England-based life science company focused on skin health - Agrees to acquire Dermatonics Ltd for GBP1.7 million initially, plus up to a GBP1.3 million earn-out over three years. St Ives, Cambridgeshire-based Dermatonics makes topical and dermatological products for skincare and woundcare, using natural ingredients wherever possible. It has annual earnings of GBP230,000 on GBP1.8 million in revenue. SkinBioTherapeutics says the acquisition will be financed with a GBP1.6 million drawdown from a new GBP5.0 million convertible bond issue. Read More