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SkinBioTherapeutics PLC - Newcastle, England-based life science company focused on skin health - Completes the the acquisition of Dermatonics Ltd. On Thursday, it agreed to buy Dermatonics for £1.7 million initially, plus up to a £1.3 million earn-out over three years. St Ives, Cambridgeshire-based Dermatonics makes topical and dermatological products for skincare and woundcare, using natural ingredients wherever possible. It has annual earnings of £230,000 on £1.8 million in revenue. Chief Executive Stuart Ashman 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.’ Current stock price: 11.00 pence, down 14% in London on Friday 12-month change: down 42% Copyright 2024 Alliance News Ltd. All Rights Reserved.
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