SkinBioTherapeutics plc (AIM:SBTX) agreed to acquire Dermatonics Ltd for £1.7 million on January 25, 2024.The initial consideration is £1.68 million plus £1.25 million earn-out over three years, in a cash-free and debt-free acquisition. Completion will take place upon clearance of funds being drawn down from the CLN facility which is expected to take place no later than January 25, 2024. Initial acquisition funding provided through £1.6 million drawdown of a £5.0 million convertible bond facility. For the financial year ended January 31, 2023, Dermatonics reported unaudited revenues of £1.82 million and an adjusted EBITDA of £0.23 million. Giles Balleny and Dan Hodkinson of Cavendish Capital Markets Limited acted as financial advisor to SkinBioTherapeutics.

SkinBioTherapeutics plc (AIM:SBTX) completed the acquisition of Dermatonics Ltd on January 26, 2024.