SkinBioTherapeutics achieves 'significant' manufacturing scale-up

The AIM-traded firm also said that the material, which to date had been manufactured and supplied in a liquid form, had now been successfully freeze dried.

It said the ability to freeze dry the material was an “important step” towards commercialisation, as it enables mass production, storage and transportation.

The SkinBiotix technology had been shown to be stable and effective within the cream formulation for 24 hours.

SkinBioTherapeutics said the human study, which was due to commence in September, was subject to the company's ongoing work to confirm stability of the current formulation over an extended timeframe.

The company said it expected to provide an update on that in the coming weeks.

On the financial front, SkinBioTherapeutics ended the 12 months to 30 June with a cash balance of £3.2m, down from £3.6m at the end of December.

The firm said it would publish its full-year results in October.

“The progress we've made so far in manufacturing and freeze-drying the lysate is very encouraging,” said SkinBioTherapeutics chief executive officer Dr Cath O'Neill.

“The current formulation is undergoing extended stability studies in preparation for the human study.”