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Integumen says it is growing strongly; outlines ambitious plans

In a current trading statement ahead of its annual meeting, the artificial skin specialist said it remains on target to increase average revenue per client

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The company had a positive message for investors attending its annual meeting later

Integumen PLC told investors “current activity continues to be significantly higher than the company has experienced in the past”.

In a brief trading statement ahead of its annual meeting, the artificial skin specialist said it remains on target to increase average revenue per client.

It is also on track to create “multiple income streams” from medical products in the skin diseases treatments and therapies markets.

An example of that horizontal diversification emerged on Monday after the company unveiled its plan to develop a state-of-the-art range of CBD infused wound dressings.

Winning blue-chip clients 

The company, whose main product is a technology called LabSkin that can be used to safely and effective test skin care products, is also gaining traction by winning blue-chip clients with four already signed up.

The £3mln all-paper purchase of Rinocloud has enabled Integumen to “scale-up the business as it moves from a physical laboratory to an automated, real-time, real-world digital data platform”, Integumen said.

A successful £2.75mln fundraiser, meanwhile, means the group has the financial wherewithal to meet its immediate needs, it added.

Both are part of a root and branch transformation, which has taken place over the past year that has seen Integumen jettison non-performing businesses, while fully integrating others.

"The company has been completely transformed over the last 12 months,” chairman Ross Andrews will tell Wednesday’s AGM.

Quick facts: Integumen

Price: 1.795 GBX

AIM:SKIN
Market: AIM
Market Cap: £17.61 m
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