News and Publications

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

Posted: 05/01/2023

The corporate team at Penningtons Manches Cooper has advised SkinBioTherapeutics plc (AIM: SBTX) on a £2.5 million placing, and a separate retail offer to existing shareholders through the REX platform, raising an additional £117,378. This is the second fundraising on AIM that Penningtons Manches Cooper has advised SkinBioTherapeutics on, raising in aggregate £7.1 million.

Cenkos Securities has acted as nominated adviser and broker to SkinBioTherapeutics. The transaction was subject to shareholder approval with admission taking place today, 5 January 2023.

SkinBioTherapeutics is a life science company focused on skin health. The primary purpose of the fundraising is to fund the continued roll-out of Axis-PS into Europe and the rest of the world, accelerate development and commercialisation of acne treatment, and build out in-house formulation and scientific capabilities, as well as general working capital. The fundraising will also provide the company a strengthened balance sheet for negotiations with potential acquisition targets.

London-based corporate partner, Seb Orton, led on this transaction with assistance from associates Emily MacDonald and Jenny Wright.

Arrow GIFReturn to news headlines

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