(Alliance News) - Integumen PLC on Thursday said its Labskin subsidiary has signed agreements with two new and one existing undisclosed clients for microbiome research and development services.
The AIM-listed personal health care company said the services will have an aggregated "low six-figure value" and will be completed over the next four months.
Integumen expects additional research and development service agreements from all three clients to follow on after these initial trials are completed.
Under the agreements, Labskin 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, Integumen explained.
"These new research and development 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," said Chief Executive Gerard Brandon.
He added: "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."
Integumen shares were trading 0.3% lower in London on Thursday at 1.80 pence each.
By Evelina Grecenko; evelinagrecenko@alliancenews.com
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