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A flick through Skin Elements journey in 2021

Highlights 

  • Responding to significant global shift, Skin Elements Limited has continued to fast track its developments.
  • In August 2021, the Company secured TGA registration for its Invisi Shield SuprCuvr as a hospital grade disinfectant, unlocking several commercial opportunities.
  • The Company has significant inventory on hand to drive drive sales growth through its distributor and online channels.

The year 2021 undoubtedly proved challenging for many companies, as many businesses struggled to stay afloat against the challenging operating conditions. Meanwhile, spillover effects of the COVID-19 pandemic have also driven varying transformations, with the consumer growing more conscious and more inclined towards their health and safety.

ALSO READ: Skin Elements offers plant-based materials alternatives to chemicals

Responding to significant global shift, Skin Elements Limited (ASX: SKN) has continued to fast track its developments amidst the growing global focus to fight infection. Let us review SKN’s progress in light of significant developments during 2021, positioning it for further growth opportunities.

ALSO READ: Skin Elements in sweet spot to benefit from strong COVID-19 induced tailwinds  

TGA registration for Invisi Shield SuprCuvr

In August 2021, the Company secured TGA (Therapeutic Goods Administration) registration for its Invisi Shield SuprCuvr as a hospital grade disinfectant. It allows the Company to lawfully supply Invisi Shield SuprCuvr in Australia as a hospital grade disinfectant effective against COVID 19.

Invisi Shield SuprCuvr

Source: SKN update, dated 30 September 2021

READ MORE: Skin Elements (ASX:SKN) hits a crucial milestone, secures TGA Registration for Invisi Shield SuprCuvr

Moreover, Skin Elements can now also make more detailed and specific product and label claims concerning Invisi Shield SuprCuvr. It therefore sets the stage for the Company to progress its commercialization and growth strategy. The Company would pursue commercial scale sales and distribution opportunities for Invisi Shield SuprCuvr with sales partners who demand TGA registration as pre-requisite for the disinfectant products. 

SKN bolsters Finance

SKN has entered into an equity funding facility agreement with LDA Capital. Under the agreement LDA Capital has agreed to provide the Company with up to AU$20 million in committed equity capital over the next 36 months.

With SKN’s focus on developing its natural antimicrobial technologies, it has received approval for the 2021 R&D Tax Rebate of $989k from AusIndustry. The Company also recently raised AU$2.1 million in a Placement of 26.25 million ordinary fully paid shares at $0.08 each.

SKN appointed new Company Secretary

SKN has appointed Mr Phil Giglia as the Company Secretary. Mr Giglia is a Chartered Accountant and has over 25 years of experience in senior roles. Moreover, he also has a strong depth of expertise in the small to medium enterprise sector.

ALSO READ: Meet the SKN stalwarts at the helm of Invisi Shield® development

SKN to rev up Sales and Manufacturing

The Company has significant inventory on hand to drive drive sales growth through its distributor and online channels. As indicated by the Company recently, its inventory includes

  • 36,000 units of the expanded Soleo Organics sunscreen ranges. It consists of high performance, every day, face and coconut.
  • 7,000 units of its PapayaActivs therapeutic range

ALSO READ: Packing a papaya punch: An overview of Skin Elements’ all-natural PapayaActivs cream

Scale up production of Invisi-Shield and SuprCuvr is now underway with Australian sourced manufacturing and ingredients. The Company also looks forward to new online store launch in the near term.

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