20th Nov 2019 12:19
(Alliance News) - Life sciences company SkinBioTherapeutics PLC on Wednesday said it has signed a commercial agreement with FSTE 100-listed Croda International PLC.
Under the terms of the agreement, SkinBioTherapeutics said its proprietary SkinBiotix platform will be paired with Croda's expertise in the development and commercialisation of unique, sustainable, cosmetic ingredients, focusing specifically on the growing skincare actives market.
Sederma, part of Croda, is a specialist in bioactive ingredients for the cosmetic industry, and will be responsible for the development, manufacturing and commercialisation of the SkinBiotix technology.
Any licensed products resulting from this agreement will be sold to Croda's global portfolio of Personal Care customers, SkinBioTherapeutics said.
SkinBioTherapeutics will be paid tiered royalties based on global sales revenue on any licensed products derived from the partnership, it said, which is expected to be agreed on successful development of the technology.
"As we have stated before, we intend to build a significant portfolio around our core technology across multiple sectors to create further value for our shareholders - this deal with Croda is just the beginning," said SkinBioTherapeutics Chief Executive Stuart Ashman.
"The SkinBiotix technology has a solid scientific foundation which attracted us in the first place. We believe the technology has the potential to become an essential and significant component of cosmetic products within the rapidly emerging skin microbiome market," added Arnaud Fournial, managing director of Sederma.
SkinBioTherapeutics shares were trading 3.3% higher in London on Wednesday at 17.30 pence each.
By Evelina Grecenko; [email protected]
Copyright 2019 Alliance News Limited. All Rights Reserved.
Related Shares:
Croda InternationalSkinbiotherap.