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Penningtons Manches Cooper acts for SkinBioTherapeutics PLC on placing and retail offer on AIM

Posted: 13/12/2023

The corporate team at Penningtons Manches Cooper has advised SkinBioTherapeutics plc (AIM: SBTX) on a £3 million placing and a separate retail offer to existing shareholders through the Bookbuild platform, raising an additional £250,000. This is the third fundraising on AIM that Penningtons Manches Cooper has advised SkinBioTherapeutics on, raising in aggregate £10.4 million. 

Cavendish Securities acted as nominated adviser and broker to SkinBioTherapeutics. The transaction closed in November 2023. 

SkinBioTherapeutics is a life science company focused on skin health. The net proceeds of the fundraising will enable the company to advance its oral and inflammation programmes, continue roll-out of AxisBiotix-PS, and fund its study and subsequent commercialisation of acne treatment, as well as general working capital. The fundraise will also provide SkinBioTherapeutics with a strengthened balance sheet for negotiations with potential acquisition targets. 

London-based corporate partner, Seb Orton, led on this transaction with assistance from associate Jenny Wright.

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Penningtons Manches Cooper LLP

Penningtons Manches Cooper LLP is a limited liability partnership registered in England and Wales with registered number OC311575 and is authorised and regulated by the Solicitors Regulation Authority under number 419867.

Penningtons Manches Cooper LLP