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SkinBioTherapeutics rockets as 'major milestone' reached by new cream
Shares in skin health specialist SkinBioTherapeutics stormed up 10% on Tuesday after a cream formulation of the company's SkinBiotix technology passed effectiveness in skin models.
SkinBiotix's technology utilises extracts of probiotic bacteria to improve the barrier function of skin through the increase of skin proteins, keeping moisture in and protecting from infection, with data showing a correlation between the amount of SkinBiotix in the cream and the prevalence of the protein.
The AIM-traded life sciences company, whose focus was on skin health, specifically on the cosmetics, infection control and eczema sectors. said the stability of the cream will undergo further testing in the coming weeks.
Catherine O'Neill, chief executive of SkinBioTherapeutics, said: "The incorporation of our SkinBiotix technology into an effective cream formulation is a major milestone in the development of products for the cosmetic market and, subject to stability testing, allows us to create formulations for our human study later this year."
Development of lotion and gel-based formulas containing SkinBiotix's technology was also underway.
As of 0827 BST, SkinBio Therapeutics' shares were up 10.05% at 10.73p.