RE: Brilliant news7 Nov 2019 07:51
RNS Number : 5291S
Integumen PLC
07 November 2019
AIM share code: SKIN
7 November 2019
Integumen PLC
("Integumen" or "Company")
3,000 square foot Labskin laboratories officially opened
Microbiome and Labskin clone R&D agreements signed with three Top 20 cosmetic companies
Integumen announces that its Labskin subsidiary has signed agreements with two new, and one existing, Top 20 global cosmetic company clients for microbiome research and development ("R&D") services, worth an aggregated low six-figure value, to be completed over the next four months. Additional R&D service agreements from all three clients are expected to follow on after these initial trials are completed.
Under the agreements, the Company 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. This extends the range of test services to include R&D support services, making full use of the Labskin healthy and diseased living skin models, at our newly enlarged laboratories in York, UK.
Gerard Brandon, CEO of Integumen plc, comments:
"We are delighted to open our new enlarged facilities in York and with the addition of three new R&D agreements, we remain on track to exceed £1m revenue by our year end. These new R&D 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. 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. 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."