Result of AGM
RNS & Investor News
Optibiotix increased investment in SkinBiotix Limited
20 October 2016
OptiBiotix Health Plc (AIM: OPTI), a life sciences business developing compounds to tackle obesity, high cholesterol, diabetes and skin care, announces an increase in its investment in its majority owned subsidiary SkinBiotix Limited ("SkinBiotix").
Under the terms of the agreement, OptiBiotix has increased its investment into SkinBiotix, using a Convertible Loan Agreement, with an investment of £400k which will provide funding to complete the development and human studies for the first product application, in addition to funding activities to support an Initial Public Offering ("IPO"). The loan will convert should SkinBiotix successfully complete and IPO.
The increased investment will provide SkinBiotix with resources to progress towards an independent listing in line with OptiBiotix's strategy update of 5 July 2016.
SkinBiotix is dedicated to the development of skin biotherapeutics using natural components of the skin microbiome to protect, manage and restore skin health problems. SkinBiotix uses patented technology to address large scale markets in skin health including Cosmetic Skin Care ($121bn); Health Care Acquired Infections ($82bn); Dermatology ($10.2bn) and Wound Care ($18bn).
Stephen O'Hara, CEO of OptiBiotix, commented: "OptiBiotix has made strong progress with the development of SkinBiotix. We have built the team, added significant IP and put in place development programmes and plans for human studies with the objective of translating the science into commercial products with large potential global markets. Our belief in the potential of SkinBiotix is demonstrated by this additional investment which will enable SkinBiotix to accelerate its corporate and technical development plans. OptiBiotix believes the scale of the opportunities offered by SkinBiotix's technology in the biotherapeutic space creates the potential for substantial future value enhancement. The directors believe that shareholder value could be maximised as existing shareholders may, in the event of a successful flotation of SkinBiotix, ultimately hold shares directly in both companies."
For further information, please contact:
|OptiBiotix Health Plc
Stephen O'Hara, Chief Executive
Contact via Walbrook below
|Cairn Financial Advisers LLP (Nominated Adviser)
Liam Murray / Avi Robinson
|Tel: 020 7148 7900|
Adrian Hargrave / Scott Mathieson / Kate Bannatyne (Corporate Finance)
Tony Quirke (Corporate Broking)
|Walbrook PR Ltd
|Tel: 020 7933 8780 or [email protected]
Mob: 07876 741 001
Mob: 07900 608 002
About OptiBiotix - www.optibiotix.com
OptiBiotix was formed in March 2012 to develop compounds which modify the human microbiome - the collective genome of the microbes in the body - to prevent and manage human disease.
The aim of OptiBiotix is to discover and develop microbial strains, compounds and formulations, which modulate the human microbiome and can be used as food ingredients and supplements or active compounds for the prevention and management of human metabolic diseases, examples of which include obesity, cholesterol and lipid distribution and diabetes.
OptiBiotix has established a pipeline of microbiome modulators that can impact on lipid and cholesterol management, energy harvest and appetite suppression. The development pipeline is fuelled by its proprietary OptiScreen® and OptiBiotic® platform technologies designed to identify metabolic pathways and compounds that impact on human physiology and bring potential health benefits. These platforms are applicable across a wider range of other human diseases.
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