LONDON (Alliance News) - Venn Life Sciences Holdings PLC said Thursday said its innovation division Innovenn had secured a patent from the European Patent Office for its anti-acne complex.
The complex reduces bacteria, inflammation, excess oil and blocked pores, Venn said. The patent will allow it to develop a new commercial anti-acne brand later in the year.
Additionally, the company began commercial discussions on its human skin testing platform Labskin, and it expects to see the first revenues from the product later in the year.
"Since our acquisition of the assets of Evocutis PLC in March of 2014, Innovenn have made tremendous progress in terms of bringing our anti-acne and living skin equivalent technology to the marketplace," said Chief Executive Tony Richardson in a statement.
Shares in Venn were trading up 7.2% at 19.84 pence Thursday morning.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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