OptiBiotix Health invests further in SkinBiotix

OptiBiotix Health has increased its investment in majority-owned subsidiary SkinBiotix Ltd via a £400,000 Convertible Loan Agreement.

The investment provides SkinBiotix funding to complete the development and human studies for its first product application, in addition to funding activities to support an IPO.

"OptiBiotix believes the scale of the opportunities offered by SkinBiotix's technology in the biotherapeutic space creates the potential for substantial future value enhancement," said chief executive Stephen O'Hara.

"The directors believe that shareholder value could be maximised as existing shareholders may, in the event of a successful flotation of SkinBiotix, ultimately hold shares directly in both companies," he added.

SkinBiotix is dedicated to the development of skin biotherapeutics using natural components of the skin microbiome to protect, manage and restore skin health problems.

At about 10:58 BST, shares in OptiBiotix were down 5.04% to 66p.