Life sciences business set to float on AIM

Life sciences business OptiBiotix has announced that its majority-owned subsidiary SkinBioTherapeutics is set to undertake an IPO.

SkinBio is looking to be admitted to the AIM section of the London Stock Exchange.

It is part of plans announced in July 2016 by OptiBiotix to form separate divisions.

The plan was to give each its own technology platforms, IP portfolio and specialised teams – all autonomous with the potential for separate public listings.

A separate vehicle was incorporated in 2015, formerly called SkinBiotix, and last month changed its registered address from the OptiBiotix headquarters in York to Macclesfield.

In October 2016, Martin Hunt was appointed as non-executive chairman of SkinBiotherapeutics.

Later that month OptiBiotix announced that it had invested a further £400,000 into SkinBiotherapeutics to enable it to progress towards an IPO.  OptiBiotix’s convertible loan will be converted into ordinary shares in SkinBioTherapeutics on admission.

Stephen O’Hara, CEO of OptiBiotix, commented: “The rapid development and growing awareness in the microbiome have been matched by OptiBiotix’s progress in a number of diverse areas of key scientific and commercial interest.

“OptiBiotix’s skin division has built its own IP, team, and development programmes to a point where the Board believe the scale of the opportunities offered by its SkinBiotix’s technology in the biotherapeutic space may be best realised by separate listing.

“As a majority shareholder in SkinBioTherapeutics, OptiBiotix’s Board believe this provides the necessary resources to grow SkinBiotherapeutics and create the potential for substantial future value enhancement.”