SkinBioTherapeutics raised close to $2M to widen potential applications for their skin biome technology, the company reports.
Derived from probiotic bacteria, SkinBioTherapeutics technology is being developed for use in cosmetics, infection control products and in the treatment of a variety of skin conditions. The products are based on lysates - extracts of probiotic bacteria - which will help keep the skin healthier and treat certain conditions.
The new funding comes from original investor Seneca, and takes Seneca’s holding from 14.6 percent to 20.9 percent of the Company’s issued share capital.
"The funding provides additional working capital and headroom to consider some of the other potential applications for the SkinBiotix technology as well as other skin conditions, such as psoriasis,” says Dr, Cath O’Neill, CEO of SkinBioTherapeutics, in a news release.
The company is due to report on the results of a double-blinded, efficacy study in the next few weeks. This follows successful safety studies that ensure the treatments do not irritate and that that they are effective moisturizers.