Microbiome and Labskin clone R&D agreements signed
AIM share code: SKIN
7 November 2019
("Integumen" or "Company")
3,000 square foot Labskin laboratories officially opened
Microbiome and Labskin clone R&D agreements signed with three Top 20 cosmetic companies
Integumen announces that its Labskin subsidiary has signed agreements with two new, and one existing, Top 20 global cosmetic company clients for microbiome research and development ("R&D") services, worth an aggregated low six-figure value, to be completed over the next four months. Additional R&D service agreements from all three clients are expected to follow on after these initial trials are completed.
Under the agreements, the Company will provide the first commercially available combination of cloned Labskin, microbiome tests and gene sequencing using data analytics on the LabskinAI platform. These are expected to confirm the impact of our clients' new products and ingredients on human skin. This extends the range of test services to include R&D support services, making full use of the Labskin healthy and diseased living skin models, at our newly enlarged laboratories in York, UK.
Gerard Brandon, CEO of Integumen plc, comments:
"We are delighted to open our new enlarged facilities in York and with the addition of three new R&D agreements, we remain on track to exceed £1m revenue by our year end. These new R&D contracts are in addition to product test services, and illustrate the demand for the full range of Labskin services and the progress we have made over the past 18 months. Each breakthrough and combination of cloned skin, microbiome definition for diseased skin and the data analytic use of AI on the gene sequencing results, without any harm to animals, builds the unique offering of the enlarged Group. This is why we believe that providing world class services to our prestigious client base in the skin care and cosmetic industries will continue to provide strong growth and new contract revenues into 2020, and ultimately, drive value for our shareholders."
Gerard Brandon, CEO
+44 (0) 7340 055 648
SPARK Advisory Partners Limited
Neil Baldwin/Andrew Emmott
+44 (0) 113 370 8974
Turner Pope Investments (TPI) Limited (Broker)
Andy Thacker/Zoe Alexander
+44 (0) 20 3657 0050
Integumen is a vertically integrated product and services company for skin related diseases, treatments and therapies with four business units:
· Labskin AI's technology platform incorporates artificial intelligence within clinical research for medical device, pharmaceuticals, cosmeceuticals and related life science test services. Labskin allows skincare, healthcare, pharmaceutical manufacturers and cosmetic companies to test their products on human-like skin in a real-world environment with full access to multiple state-of-the-art partner technologies.
· Rinodrive is a data aggregation, refining and AI analysis open-source eco-system designed to provide third-party service providers the ability to offer their clients valuable insights that support clinical, operational and financial decisions in healthcare services, third-level education, government departments and the financial sector.
· Wound pHase is developing skin and wound care products using its proprietary wound dressing technology. Working in collaboration with CBD providers creating a CBD infused diabetic wound care product range.
· Stoer-for-men skin products e-commerce division offers a range of skincare products derived from 5 natural super-ingredient plant extracts specifically for men to reduce the signs of ageing and is also used as a control for client testing within Labskin laboratories.
The Company combines data analytics with access to therapeutic operational expertise and offers solutions to our clients, from regulatory approvals, right through to marketing fully tested ingredients that have been certified on our Laboratory grown living human tissue.
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Market Cap: £14.87 m
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