Launch of Labskin human skin clone tests for Medical Device and Clinical Research trials
Integumen today announces the roll-out of the Labskin human clone skin testing platform into the medical device and clinical research sectors.
Combined with human volunteers doubles number of skin tests possible saving time and money
- 50% reduction of human volunteers required for each trial;
- Instantly creates a cloned twin of the human test subject;
- Reduces recruitment time;
- Cuts project management costs, supervision time and support personnel by up to 50%;
- AI integration delivers reliable comparative analytical data plus human test response data;
- Lowers error rate by reducing number of human volunteers who are not sticking to test regime;
- Increases scientific accuracy and anecdotal evidence from human clone twin tests;
- Real-time feedback through the Labskin AI platform to client; which,
- Delivers fast results, lowers development costs and reduces time to market.
Integrated Collaboration Business Model
The Integumen business model of collaboration with the Centre for Skin Sciences (CSS) in Bradford, UK, Sheffield Hallam University, UK, Cork Institute of Technology, Ireland, plus Integumen’s own enlarged Labskin laboratories in York, UK, provides access to thousands of potential student volunteers with all sorts of skin diseases, reducing the recruitment process for specific young adult prone skin diseases
Gerard Brandon, Chief Executive Officer, commented:
Regulatory pressures have increased the demand for skin testing in EU 2017/745 rule 21 and animal testing is now banned on skin related products in EU Directive 2003/15/EC enforced since March 2013. As a trusted partner to our CRO (Contract Research Organisation) partners, our disruptive technology is able to enhance the margins of medical device and clinical trial organisations on test subjects. Labskin can double the output of test results requiring fewer test volunteers and lower project management time, delivering faster, more reliable and consistent results for their skin care, health care, wound care and pharmaceutical clients, all at a lower cost to our partners.
Big data analytics is key to transforming the future of skin disease drug development which is ranked as the fourth most common cause of human illness. While drug companies still chase molecules for new blockbuster drugs, millions of people are suffering from skin related diseases today.
Revenues grew by 890% to £477,000 (unaudited), combined with revenues for RinoCloud, prior to their acquisition, Group revenues jumped 1,213% to £655,000
Integumen Annual Report at 31 December 2018
Integumen signs 3 contracts and continues to make rapid progress up the value chain by entering into larger contracts for Labskin AI services.
FY 2018 total revenue £502k increased 111% (FY 2017 : £238k);
FY 2018 revenue from continued operations £274k increased 294% (FY 2017 : £93k) following Labskin test kit sales move to full skin-care product test services;
FY 2018 EBITDA losses reduced by 12% to (£1.25m) (FY 2017: (£1.40m))
Fionán Murray has joined Integumen as Group Sales Director, and as a Director of the Company with a focus on extending digital services on top of existing Labskin physical services to rapidly grow the Labskin AI footprint.