SkinBioTherapeutics gets France approval for psoriasis supplement

SkinBioTherapeutics has been given the green light by French regulators to introduce its food supplement, AxisBiotix-Ps, into the French market, it announced on Friday.

The AIM-traded firm said the supplement was specifically designed to alleviate symptoms associated with psoriasis.

Sales were projected to begin in France in October.

Earlier in the year, the company successfully launched AxisBiotix-Ps in Spain and Italy, following approvals in March and June, respectively.

The product began in the UK, with a robust customer retention rate of over 80%.

While the next country in line for the product's launch remained unconfirmed, SkinBioTherapeutics said discussions were underway with various European regulatory bodies.

Its primary objective remained to enhance the availability of AxisBiotix-Ps across the continent.

“In line with our strategic plan, we are delighted that AxisBiotix-Ps is now approved for sale in another market, after the previous launches in the UK, Spain, and Italy,” said chief executive officer Stuart Ashman.

“We anticipate an open reception from potential new customers in our European markets due to their positive attitude to food supplements.

“We have now completed the goal of launching in three major European markets in 2023, and we look forward to updating the market on other countries' launches next year.”

At 1208 BST, shares in SkinBioTherapeutics were up 2.89% at 22.64p.

Reporting by Josh White for Sharecast.com.