OptiBiotix Health plc (LON:OPTI), a life sciences business developing compounds to tackle obesity, high cholesterol, diabetes and skin care, announced today that its majority owned subsidiary, SkinBioTherapeutics (formerly SkinBiotix), intends to seek Admission to AIM with an associated institutional and private client investment manager fundraising. A Schedule One announcement in relation to the proposed Admission was issued by the London Stock Exchange earlier today.
On 5 July 2016, the company announced its strategy to form separate divisions, each containing its own technology platform, IP portfolio, and specialised teams, which could in due course become separate legal entities with the potential for a separate public listing. On 5 October 2016, Martin Hunt was appointed as Non Executive Chairman of SkinBiotherapeutics. On 20 October 2016, Opti announced that it had invested a further £400,000 into SkinBiotherapeutics via a Convertible Loan Agreement to build the team, IP, and research & development programmes to progress towards an Initial Public Offering. The company’s convertible loan will be converted into Ordinary Shares in SkinBioTherapeutics on Admission.
OptiBiotix’s strategy is based on its belief that the diversity of IP and commercial relationships across its four divisions reduces shareholder risk whilst offering multiple opportunities for value enhancement.
The planned Admission of SkinBioTherapeutics brings in non dilutive funding and creates the opportunity to drive the development and commercialisation of its SkinBiotix® technology platform to address large scale global markets in skin health including Cosmetic Skin Care ($121bn); Health Care Acquired Infections ($82bn); and Eczema ($3.8bn).
Stephen O’Hara, CEO of OptiBiotix Health plc, commented: “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. The groups 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.”
