19 Jul 2019 07:00
AIM share code: SKIN
19 July 2019
Integumen PLC
("Integumen" or "Company")
LabskinAI wins new agreements with two Top-10 global cosmetic companies
Integumen today announces that LabskinAI has signed new agreements with two of the Top-10 global cosmetic companies for initial testing on ingredients and products in their portfolio.
These contracts demonstrate an increase in revenue per client as previous clients upgrade from Labskin products purchases to a full virtual service offering and are worth in aggregate in excess of £100,000 with the potential for continued testing thereafter. Signed in the first month of H2 2019, these agreements are in addition to the contracts in H1 announced in RNS of 28th May 2019.
Today we also announce that LabskinAI has now completed Beta testing and has fully transitioned from a product sale only company to a virtual and physical test platform for healthcare, personal care, skincare, wound care and pharmaceutical drug discovery eco-system.
LabskinAI contracts, which are EU Regulatory driven, illustrate that LabskinAI virtual services and delivery of physical Labskin services using sophisticated technology integration have the potential to elevate skincare product development. These latest agreements endorse Labskin as an ideal partner to global companies for microbiome testing for consumer skin care products and ingredients.
Gerard Brandon (Chief Executive Officer) commented:
"Integumen is playing a major role in the creation of an innovative AI eco-system that will contribute to the growth of our clients' product range as they develop new skin care products using the LabskinAI virtual platform.
"Right now, LabskinAI serves as a portal for small, medium and large corporations to meet the strict EU regulatory requirements for existing products that are already on the shelf. The repeat custom of two global cosmetic companies is testament to the value of the LabskinAI platform for the entire skin care industry."
Contacts:
Integumen plc | Gerard Brandon, CEO
| +44 (0) 7340 055 648 |
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SPARK Advisory Partners Limited (Nominated Adviser)
| Neil Baldwin/Andrew Emmott | +44 (0) 113 370 8974 |
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Turner Pope Investments (TPI) Limited (Broker) | Andy Thacker | +44 (0) 20 3621 4120 |
About Integumen:
Integumen is a vertically integrated business, collaborating their Labskin technology platform with partners in artificial intelligence, clinical research, medical device and life science. These collaborators are building their own technology on top of the Labskin AI backbone. Labskin allows skin-care, health-care, pharmaceutical manufacturers and cosmetic companies to test their products on human-like skin in a real-world environment with full access to multiple state-of-the-art partner technologies.
The Company combines data analytics with access to therapeutic operational expertise and offers solutions to our clients, from regulatory approvals, right through to marketing fully tested ingredients that have been certified on our Laboratory grown living human tissue.
About RNS Reach announcements:
RNS Reach is an investor communication service aimed at assisting listed and unlisted (including AIM quoted) companies to distribute media only / non-regulatory news releases such as marketing messages, corporate and product information into the public domain. An RNS Regulatory announcement is required to be notified under the AIM Rules for Companies.