Posts from Gerard on ADVFN 211 May 2019 23:52
At 19.10
What am I doing on my Saturday???
Okay... First and foremost we never needed a smartphone before Apple showed us we did. We never needed WiFi before we found out we needed it.
Testing to ensure that your product or ingredient satisfies the minimum requirement does not require any or our, or competitors products. There are alternatives, because most companies don't know they need it to get their product to market. They test for toxicity, irritation and sensitivity.
Now the reason that we were able to go from £2,000 test kits to £50k services, before we even move to accelerate into the medical device and pre-clinical trials, is because there are a myriad of tests you can do with Labskin that you can't do with the basic lab equipment or any competitors products.
I would never, ever look to deminiish the value attributed to a competitors products because they serve a purpose. They satisfy the requirements of the R&D departments of skin care companies to keep their product on the shelves.
Where we differ, significantly, is that the claims that can be made using Labskin, because of the ability to grow bacteria, viruses and fungi on the skin, are what makes a clients products consumer claims superior to their competitors.
Not everyone can afford £50-£100k but they are tiny costs to major corporations with sales in £billions.
The RNS yesterday transforms the above into another level. No other competitor can clone the bacteria from a human onto their lab skin and allow it to grow for 14 days while products are tested on it. Up to now all skin companies did not know they need to halve their human test volunteers, or duplicate their test subjects skin as a control.
Equally for decades clinical trial and medical device have sought to out-source what are non-core Regulations requirements in trials. They are process driven and CRO's bid for the business. The margins are low, so volume of business is key.
Labskin arrive with a way to reduce costs, not incrementally in small percentages, but in half by reducing project management, recruitment of human volunteers, equipment, supervision and so reduce personnel carry costs.
It reduces the length of time to complete the tests and as results are provided in real-time back to the client, development time is reduced as are the need for retesting failed trials after reformulation.
So until now, the skin-care industry, medical device and clinical trial companies did not realise they need Labskin.
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