In June 2025, SkinBioTherapeutics (SkinBio) signed an exclusive UK commercial agreement with Superdrug, one of the UK’s leading beauty and health retailers related to AxisBiotix. The commercial agreement is on an exclusive basis for two years. Superdrug has informed SkinBio of its intention to launch the first tranche of product in stores which typically have higher sales of medicated skincare relative to the rest of the Group. A phased roll-out to the rest of Superdrug’s UK store portfolio is scheduled to commence in Spring 2026. We view this as a positive development but make no changes to our forecasts or PT.
