DeepVerge PLC - York-based skin product test services company formerly known as Integumen PLC - says its new Research & Development service has already generated GBP400,000 of completed sales in the fourth quarter of 2020 with agreements with ten new clients that had not used Labskin services previously. The R&D service was launched in August 2020 and is intended to validate the impact of ingredients, such as probiotics, on the skin's microbiome.
Chief Executive Gerard Crandon: "The Labskin division has become a recognised global leader in cloning and testing real-world human skin microbiome in a laboratory with a rapidly expanding order book from a growing blue chip client base. Since September 2019, the team has increased revenue per client exponentially by offering multiple value-added solutions beyond its core laboratory testing services which lower client development costs of product information validation enabling new products get to market faster."
Current stock price: 24.80 pence; up 5.5% on Friday
Year-to-date change: up 49%
By Anna Farley; annafarley@alliancenews.com
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