SkinBioTherapeutics has raised £1.56 million in investment from prominent backers. This development underscores the company’s burgeoning influence within the skin health sector.
The Newcastle-based firm secured funding amid reporting sales growth and possessing sufficient cash reserves. The investment aligns with their strategic goals, including launching new products and strengthening their market position.
SkinBioTherapeutics, a leader in skincare innovation, has secured £1.56 million from investors Premier Miton and Cynosure Capital Pty Ltd. The funding was achieved through the placement of nearly 14.9 million shares at a rate of 10.5 pence each. This financial backing highlights the confidence investors have in the company, particularly at a time it was not actively seeking new funds.
CEO Stuart Ashman expressed the rarity of such significant investments in small-cap companies, emphasising Premier Miton’s and Cynosure Capital’s endorsement of SkinBioTherapeutics’ potential. He remarked that the support extends the company’s cash runway and diminishes short-term financial uncertainties.
The new funds are set to enhance the company’s acquisition strategy, notably eliminating the need for an additional £500,000 borrowing proposal. This strategic decision further cements their acquisition of Dermatonics and optimises their balance sheet for future ventures.
The firm continues to prioritise product quality and efficacy. By harnessing its scientific expertise, SkinBioTherapeutics aims to deliver cutting-edge skincare technologies that address unmet needs in skin health. The backing from prominent investors serves as a testament to the company’s strategic direction.
SkinBioTherapeutics is not only fortifying its product lineup but also setting new benchmarks in company performance. By capitalising on investor confidence, it seeks to redefine skincare excellence, ensuring long-term viability and success in an evolving industry landscape.
SkinBioTherapeutics’ recent financial success exemplifies its strategic prowess and market acumen. The infusion of capital establishes a strong foundation for future growth and continued innovation.
The £1.56 million investment marks a pivotal phase for SkinBioTherapeutics, fortifying its market presence and expanding its capabilities.
This financial boost, coupled with strategic initiatives, positions the company for sustained success in the competitive skin health landscape.
