OptiBiotix hikes investment in SkinBiotix Ltd

OptiBiotix Health announces an increase of its investment in its majority-owned subsidiary SkinBiotix Ltd.

It increased its investment using a Convertible Loan Agreement, with an investment of £400k that would 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 would 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).

Story provided by StockMarketWire.com