SkinBioTherapeutics reports progress with psoriasis supplement roll-out

The AIM-traded firm said it was now looking to accelerate the second phase of its roll-out in the US and the UK.

It said current activities included strengthening the digital sales team, and a multimedia marketing campaign using psoriasis 'influencers' to target key audiences.

The influencer campaign was described by the company as a “core strand” to driving consumer sales, and was already showing signs of raising the profile of the product with potential users.

AkinBioTherapeutics said the initial offer had concluded for early adopters of the product to receive 28 free sachets with their first purchase of AxisBiotix-Ps, and the company said it had now introduced an initial promotional price, along with free shipping, to support the current marketing programme.

As the influencer programme had only recently started, the firm said it would take several weeks to assess its effectiveness, and the subsequent conversion of activity to material sales.

The board said it believed the market expectations for sales of around £1.2m at year-end on 30 June remained achievable.

SkinBioTherapeutics said it would update the market on the initial impact of the second phase, when the company releases its half-year results in March.

At the same time, the company said Croda and its active ingredient arm Sederma was continuing to develop SkinBiotix as the foundation for an active skincare ingredient for the cosmetic and skin care industry.

Final scale-up to the capacity required for mass production was now being progressed. With the company reporting that Croda had engaged with “VIP clients” within its portfolio of more than 12,000 global cosmetic customers for its inclusion.

Finally, SkinBioTherapeutics said it was still searching for a full-time chief financial officer to start in the second quarter, as the role had become “increasingly demanding” following the recent growth and progress.

The search for suitable candidates, ideally with listed experience and sector experience relevant to the firm’s future direction, was said to be progressing well.

“Having worked through many logistical challenges during the 'soft launch' phase of AxisBiotix-Ps commercialisation, we are now looking to accelerate the product's roll-out in the US and UK,” said chief executive officer Stuart Ashman.

“We have enlisted a number of high-profile psoriasis 'influencers' to use and promote the product as part of a wider multi-media marketing campaign which we believe should generate significant interest in the product.

“We are also strengthening our digital sales team to drive product sales in the US, UK and further afield into select European countries during 2022.”

Ashman added that while AxisBiotix-Ps had been “dominating” management's time since the October launch, it was also pleased that the SkinBiotix® active ingredient project with Sederma was on track.

“We hope to be able to inform shareholders in due course on the response from Sederma's VIP clients in the skincare market.”

At 1458 GMT, shares in SkinBioTherapeutics were down 4.47% at 48.72p.