Completion of Acquisition of Dermatonics

26 January 2024 - SkinBioTherapeutics plc (AIM: SBTX, or the "Company"), the life science business focused on skin health, announces that it has completed the acquisition of the issued share capital of Dermatonics Limited, a specialist in innovative topical and dermatological products in the skincare/woundcare space.

The initial consideration is £1.68 million plus £1.25 million earn-out over three years, in a cash-free and debt-free acquisition. Clearance of funds have now been drawn down from the convertible bond facility announced yesterday for the acquisition.

Stuart Ashman, CEO of SkinBioTherapeutics, said:

"We are delighted to have completed the transaction with Dermatonics. As we said in the announcement yesterday, this acquisition aligns directly with the inorganic growth strategy we outlined in our FY results last year. This is an accretive deal that provides immediate benefits through synergies and accelerated routes to market. Our focus now is to integrate the two businesses and build value for our shareholders."

Reminder of Shareholder presentation and Q&A

CEO, Stuart Ashman, and CFO, Manprit Randhawa, will provide a live presentation about the terms and rationale of the acquisition of Dermatonics and the financing details via the Investor Meet platform on Friday 26 January at 10:00 am GMT.

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Caution regarding forward looking statements