Skin Elements (ASX: SKN) marks advances across SE Formula™ product portfolio in September quarter - Kalkine Media

Highlights

• Initial phase of documentation is underway for Soléo Organics with a UK-based health and wellbeing retailer.
• Trials of Eco Nurture continued in New Zealand on ten kiwi fruit orchards.
• Test marketing of SuprCurv range of products is in progress in the health and public transport sectors.

ASX-listed natural biotech firm Skin Elements Limited (ASX: SKN) has been developing the SE Formula^TM over the past 15 years, and it is the core of every natural product which SKN develops. The company says that its products with the SE Formula^TM have scientifically proven efficacy while using natural and plant-based ingredients only.

During the quarter ended 30 September 2023, the company remains focused on investing in R&D and commercialising its proprietary plant-based SE Formula^TM biotech across its product range.

Let’s look into the key activities undertaken by the company during the quarter.

Commercial negotiations continued for Soléo Organics

During the quarter, the key focus was on progressing distribution opportunities for the Soléo Organics sunscreen product.

The initial stage of documentation and due diligence is underway with a UK-based health and wellbeing retail chain. Moreover, investigations into scale manufacturing of white-label ranges are underway.

Crop protection trials underway for Eco Nurture

Eco Nurture has been developed as an alternative to chemical-based agricultural sprays, which are used to protect crops from diseases across the world. The latest product of SKN has a significant opportunity in the huge agriscience market, says the company.

The quarter saw advancements related to the Eco Nurture campaign in New Zealand, with the product being sprayed on ten different kiwifruit orchards in North Island as an alternative to the chemical-based fungicide spray. Zespri is monitoring the trial.

Meanwhile, SKN is also evaluating opportunities for Eco Nurture in other agriculture sectors.

Market testing of SuprCuvr

Hospital-grade disinfectant SuprCuvr presents significant opportunities in large-scale markets such as hospitality retailing, health, public transport, and food manufacturing, says SKN.

During the latest quarter, the company was engaged in advancing the SuprCuvr product range with the development of SuprCuvr biodegradable and compostable wipes. Moreover, the company provided the product for testing in the public transport sector, specifically for suburban train carriages and stations in Australia.

Expansion of PapayaActivs Therapeutics

The quarter saw PapayaActivs Therapeutics focusing on improving the formulations and expanding the product range.

Data source: company update

R&D rebate and capital raising

During the latest quarter, the company received an advance of AU$194k from Radium Capital under an R&D Rebate advance facility.

For the R&D spend in the financial year 2023, the company received a rebate of AU$1.13 million in October 2023.

On 23 October 2023, the company announced a private placement of AU$200k, under which 20 million SKN shares are planned to be issued at a price of AU$0.01 apiece. The placement comprises one attaching option with an exercise price of AU$0.025 apiece and expiry of 31 May 2026.

SKN shares traded at AU$0.006 on 8 November 2023.