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SkinBioTherapeutics PLC (LON:SBTX) has inked a commercial agreement for its skincare product with FTSE 100 speciality chemical company Croda International Plc (LON:CRDA).

It secures the AIM-listed life sciences group its first deal and also provides third-party validation of its technology.

Full financial terms were not revealed; however, SkinBioTherapeutics will receive “tiered royalties” on sales of any products that result from the partnership.

The company will be working with Croda unit Sederma, which will design and manufacture “new unique, sustainable, cosmetic ingredients, focusing specifically on the growing skincare actives market”.

“This deal offers the potential for SkinBiotix to be incorporated into some of the world’s biggest cosmetics brands, which was always the vision that we had for the technology,” said Dr Cath O’Neill, SkinBioTherapeutics’ chief scientific officer.

The agreement leaves the company free to pursue commercial applications in other sectors.

Sederma managing director Arnaud Fournial said his group had been drawn to the SkinBiotix platform because of its “solid scientific foundation”.

“We believe the technology has the potential to become an essential and significant component of cosmetic products within the rapidly emerging skin microbiome market,” he explained.

Talking to Proactive Stuart Ashman, SkinBioTherapeutics’s chief executive, said that through the deal it is giving Sederma access to its science.

In return, it gets access to the Croda’s subsidiary huge base of cosmetic customers and a validated source of supply that it can use in other applications.

 “It is our very first commercial deal. It validates the science and gives us a solid industry partner with 12,000 customers and a very credible supply chain.”

Skinbiotex uses lysates (extracts) of probiotic bacteria and will be offered as an active ingredient in barrier protection and anti-ageing cosmetics.

Products such as mouthwashes or toothpaste and the other applications such as med-tech, pharma and hospital-acquired infections are not included.

Croda is an excellent partner, Ashman added.

“Going with one of the large brands would have limited us to a single company, this way we get to cover the entire market and every customer of Sederma and Croda now gets exposure to Skinbiotix.”

 

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