SkinBioTherapeutics boosts fundraise by £450,000 through open offer

SkinBioTherapeutics PLC (LON:SBTX) said it has received an additional £450,000 from an open offer that accompanied a £4mln placing  two weeks ago.

Acceptances for the offer, which was priced at 16p, amounted to 2.8mln shares said the microbiome specialist.

In total, its means the AIM-listed group has raised £4.45mln, which will be used to expand its product pipeline from skin into haircare, oral and acne.

SkinBioTherapeutics also wants to develop own-label product lines and establish its own in-house scientific capability and related infrastructure.