Integumen PLC (LON:SKIN) confirmed it is on track to exceed £1mln in revenues by the year-end as it confirmed its Labskin subsidiary had signed commercial agreements with three companies.
It didn’t reveal the identities of the customers, but said they were top-20 cosmetic firms.
They will be taking microbiome research and development services worth in total a “low six-figure value”. All are expected to ink additional deals after initial trials are completed, Integumen said.
The customers will receive the first commercially available combination of cloned Labskin (a human skin model), microbiome tests and gene sequencing using data analytics on the LabskinAI platform.
The test are designed to confirm the impact of clients' new products and ingredients on human skin.
“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,” said chief executive Gerard Brandon.
“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."
The new orders will make “full use” of the company’s newly enlarged 3,000-square foot R&D facility in York.
