DVRG.L Regulatory News (DVRG)

21 February 2022

DeepVerge PLC

("DeepVerge" or "the Company")

Skin Trust Club continues rapid growth

10 leading skincare manufacturers join the Skin Trust Club Marketplace platform

82% of Skin Trust Club members purchase skincare products via App

DeepVerge (LSE:DVRG.L) consumer skin test subsidiary brand Skin Trust Club announces significant growth of the platform with leading skincare manufacturers enlisted on the Skin Trust App marketplace to sell their skincare product catalogues since mid-January. TULA Skincare, Aurelia London, Gallinée Microbiome Skincare, Plantkos, ESSE, High Beauty, Nunaïa, BE+Radiance, Better For You Wellness and DERMALA have all joined the Skin Trust Club App marketplace.

In addition, over the last four months, 23 Labskin clients have contracted to have their products tested, many of which are expected to be added to the Skin Trust Club App marketplace.

● Skin Trust Club - Generating Multiple Revenue Streams:

Skin Trust Club has over 30,000 data test samples, which is the largest skin microbiome database in the world.

o Since the marketplace service opened in January, 82% of club members (around 1,500) who received Home Test Kit results have subsequently purchased recommended skincare products for their skin via the Skin Trust Club App.

o Beauty and skincare social media influencers have begun promotions, generating thousands of new orders in the last two weeks.

o Club members are now purchasing follow-on Home Test Kit Plans at £170 for two tests.

o Home Test processing capacity is 20,000 per month in each of the UK, Ireland and US laboratories with more gene sequencing equipment being installed in the US laboratories in Q2.

Gerard Brandon, CEO of DeepVerge, comments:

"Since mid-January, Skin Trust Club members have begun to utilise skincare products recommended for their personalised daily skincare routines by our home testing kits, purchased through the Skin Trust Club marketplace service. This new in-app and web-based sales channel promotes skincare manufacturers, Labskin partners and consumer test clients, generating wholesale revenue for Labskin on products sold through this marketplace platform. With the rapid growth across this entirely new skin and healthcare sales platform, social media influencers facilitating momentum and leading skincare manufacturers joining the marketplace service, Skin Trust Club is now firmly established and looks set for a strong year ahead."

TULA Skincare CEO, Savannah Sachs, comments: 

"As a doctor founded prestige skincare brand with an innovative approach to skincare, we look forward to working with Skin Trust Club. By harnessing the power of probiotic extracts and superfood ingredients we are excited to offer clean, clinical, and effective product recommendations that will best meet the individual skincare needs of Skin Trust Club's customers so that they can feel their most confident."

For further information please contact:

Market Abuse Regulation (MAR) Disclosure

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED UNDER THE UK VERSION OF THE MARKET ABUSE REGULATION NO 596/2014 WHICH IS PART OF ENGLISH LAW BY VIRTUE OF THE EUROPEAN (WITHDRAWAL) ACT 2018, AS AMENDED. ON PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INFORMATION IS CONSIDERED TO BE IN THE PUBLIC DOMAIN.

About DeepVerge plc (www.deepverge.com)

DeepVerge is an environmental and life science group of companies that develops and applies AI and IoT technology to analytical instruments for the analysis and identification of bacteria, virus and toxins. Utilising artificial intelligent data analytics to scientifically prove the impact of skincare product claims on skin microbiome for most of the top 20 global cosmetic company clients and remotely detect and identify in real-time, dangerous pathogens in wastewater treatment plants, drinking water, rivers, lakes and reservoirs.

Skin Trust Club

Skin Trust Club incorporates an artificial intelligence Skincare App and Home Test Kit that provide simple, at-home skin microbiome testing for personalised skincare and skin health tracking. The self-administered skin swab is a remote trial and allows the participant to conduct each stage of the trial without interaction. Skin Trust Club's DNA Test generates a report that consumers can use to manage their custom skincare regime. Analysis of skin attributes provides information to create hundreds of different product combinations to suit a person's unique skin microbiome.

About TULA

TULA is a brand built on the power of probiotic extracts & superfoods. TULA believe that the same type of ingredients which are good for your body are also great for your skin. TULA focus on being healthy, not perfect & on empowering everyone to feel confident in their skin. TULA was recently acquired by Procter & Gamble.

Labskin (Life Science Division)

Labskin is a 3D human skin equivalent test platform that scientifically proves the impact of skincare product claims in healthcare, life sciences, skin microbiome clinical trials, pharmaceutical and cosmetics industries. Labskin have been pioneering the development of a laboratory grown human skin platform for 15 years and is the only commercially available lab-grown full thickness human skin model that naturally mimic the skins' microbiome. Labskin's virtual clinical trials with remote collection of human volunteers' skin microbiome provides a solution for the collection of volunteer microbiomes to allow for lab-controlled trials of advanced skin models and human microbiomes. As the data bank of remote volunteers grow, the higher the accuracy and increased reliability of virtual product testing that can be provided to clients, eliminating early human trial and error testing and resulting in a faster time to market. The Labskin test platform and protocols help clients maintain an optimum real-world environment, when testing their new ingredients and existing products, that shows the positive or negative impact on skin's natural microflora.