SKIN Broker note7 Oct 2019 16:21
Integumen has signed multi-year agreements with two major international
cosmetics companies for recurring LabskinAI services. These framework
agreements are already being rolled out in the US, Asia and the EU markets and
low six-figure aggregate payments have been received by the company. With
Integumen also anticipating contract extensions with existing clients in the nearterm, the management is confident that group revenue will exceed £1.0m in the
current financial year.
Under the initial agreements with the two global cosmetics companies, R&D teams in
the US, Asia and the EU will connect and collaborate with Integumen’s LabskinAI
virtual lab in regard to testing existing products and developing new products.
Integumen’s new clients will be able to make full use of the company’s healthy and
diseased living skin models and benefit from the analysis generated by the LabskinAI
platform.
Both of these benchmark agreements are data driven and recognise that non-animal
testing on Labskin human skin equivalents, in combination with AI analysis, represents
a paradigm shift for the skincare industry. Integumen notes that clients are able to
assess how topical skincare formulations react both on top of and deeper inside the
skin microbiome in order to create safer and more cost-effective products that also
meet exacting international compliance standards.
In separate news, the Labskin AI combined teams of microbiology and computer
science recently disclosed the completion of an artificially intelligent, virtual psoriasis
skin model at the AI Awards 2019 in Dublin.
The company used 671 anonymous patient samples taken from psoriasis lesions on the
patients’ skin with the goal of generating a generalised solution for diseased skin.
Following genomic sequencing of the samples, the datasets generated identified 216
species of microbiota (bacteria, virus and fungi) which were all confirmed using
several different AI algorithms.
Following testing of the various types and a cross-validation process, the company
identified a reliable psoriasis model. Within this, 33 species were identified that are
critical to the success of the LabskinAI diseased skin model for analysing psoriasis.
Addition of further data is expected to increase the accuracy of the model and the AI
dataset can be used as the framework to develop other diseased skin models including
rosacea and acne.
Psoriasis is believed to afflict some 4.8% of the global population and burden on
health service providers is significant. In the US alone, the annual cost of psoriasis was
estimated to be $11.25bn in 2008 representing only one of many large potential
markets for advances in the treatment of this disease.
Integumen is making progress on a broad front as the commercial potential of
LabskinAI is delivering both sales....
To see more..
https://twitter.com/gjbrandon/status/1181208193051058177?s=20