Trading update: Unaudited Revenues up 366% to £1m
Integumen’s subsidiary Labskin today announces that it has signed a Memorandum of Understanding with Innocare Group. The cooperative alliance has been established to promote innovation and cooperation between research institutions that will assist commercial enterprises in China with routes to regulatory compliance using Labskin and LabskinAI without the need for animal testing for cosmetics and skincare products.
Post Year-End 2019 Trading Update:
Even with 6 weeks’ delay in opening up the new laboratories in York, UK, demand for Labskin and LabskinAI services mean that following the end of the financial year, Integumen has achieved the 7-figure turnover number (unaudited) we had anticipated. Unaudited figures show that revenues increased 366% to £1.004m (2018: £0.274m – audited) including £0.178m relating to Rinocloud in the period pre-acquisition on 2 May 2019)
Gerard Brandon, CEO of Integumen, comments:
“Following a very successful year in 2019, Integumen has started 2020 as the “No.#1 Thought Leader on Skin Microbiome and AI”. We have a strong global Top 20 cosmetic and skin care client base and with the signing of this MOU with the Innocare Group, a foothold into the fast-growing Chinese market. Our sales, including recurring revenues, look set to continue strong triple digit growth as our order book of existing and new clients expands across three continents.”
Charles Xu, President and CEO of Innocare Group, added:
“We are delighted to be collaborating with Labskin and immediately recognise that our combined expertise, technologies and access to R&D in China and Europe will achieve far more and enable faster commercialisation for our respective technologies on both continents.”
About Integumen: www.integumen.com
Integumen is a vertically integrated product and services company for skin related diseases, treatments and therapies with four business units:
- Labskin AI’s technology platform incorporates artificial intelligence within clinical research for medical device, pharmaceuticals, cosmeceuticals and related life science test services.
- Labskin allows skincare, healthcare, 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.
- Rinodrive is a data aggregation, refining and AI analysis open-source eco-system designed to provide third-party service providers the ability to offer their clients valuable insights that support clinical, operational and financial decisions in healthcare services, third-level education, government departments and the financial sector.
- Wound pHase is developing skin and wound care products using its proprietary wound dressing technology. Working in collaboration with CBD providers creating a CBD infused diabetic wound care product range.
- Stoer-for-men skin products e-commerce division offers a range of skincare products derived from 5 natural super-ingredient plant extracts specifically for men to reduce the signs of ageing and is also used as a control for client testing within Labskin laboratories.
About the Innocare Group: www.labcaregroup.com
Labcare Scientific International, for 10 years, has been a leading scientific instrument, equipment and supplies company serving todays laboratory needs with innovative products from around the world.
Partnering with and supporters of the Shanghai Hi-Tech International Development Program, they actively participate internationally to bridge the innovation gap between China and the Rest of the World for technologies in Healthcare, Biotech, Internet of Things.
Since 2017 they have participated in the annual European forum “Beyond IoT” held in the Nimbus Research Centre, Cork, Ireland and for the first time Innocare Group will host the “Beyond IoT” Forum in China in 2020.
Gerard Brandon, CEO
+44 (0) 7340 055 648
SPARK Advisory Partners Limited
(Nominated Adviser) Neil Baldwin/Andrew Emmott
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Turner Pope Investments (TPI) Limited (Broker)
Andy Thacker/Zoe Alexander
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