(Sharecast News) - Integumen announced orders from four new customers on Tuesday, as it changed its name to DeepVerge.
The AIM-traded firm confirmed that its shares were trading under the name DeepVerge plc, with effect from 0800.
It also announced that, ahead of the In-Cosmetics Virtual Conference for ingredient suppliers, its Labskin unit received initial orders worth around £0.19m to be completed in the current quarter.
The orders were from four new 'global player' customers, which had combined sales revenues of $56bin in the cosmetics, personal care, and medical device sectors.
DeepVerge said the orders added to the existing, growing business of Labskin, and further underpinned its guided revenue of £4m for 2020.
"The company has changed dramatically since I joined as CEO a little over two years ago and we have not only driven the core Labskin business, now recognised as a thought leader and product development partner in the skincare world, but we have also ventured into new and important fields, with artificial intelligence services in wastewater equipment and real-time breathalyser Covid-19 products," said chief executive officer Gerry Brandon.
"DeepVerge reflects who we have become - a company based on 'deep' science in diagnostics and environmental contamination detection, on the 'verge' of applied engineering innovation on land, sea and air.
"Our new name and visual identity are a signal that we are entering a new era for the company - strong, bold and driven - connecting our core pillars of science, technology, environment and health to tackle the challenges of the future."
At 1536 BST, shares in DeepVerge were up 10.42% at 31.8p.
20 Dec 2023 16:02
IN BRIEF: Microsaic signs exclusivity agreement for DeepVerge assets
Microsaic Systems PLC - Surrey-based developer of real-time mass spectrometers - Says it has entered an exclusivity agreement with DeepVerge PLC, a Dublin-based environmental and life sciences firm. The agreement will grant Microsaic a period of exclusivity to purchase certain assets from DeepVerge's Modern Water business. The assets mostly comprise equipment for the lab-based manufacturing of bio-reagents used in related water testing equipment. These included all IP and rights related to the testing equipment including LX, FX and continuous-toxic-measuring machines, and water membrane technology. This exclusivity agreement follows Microsaic's offer to purchase the assets and their rights for a payment of GBP100,00 in cash, payable to DeepVerge upon completion. The exclusivity period runs until January 16, 2024, the signature of a legally binding sale of the assets, or the cancellation of the proposal by Microsaic.
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