REG - Deepverge PLC - Skin Trust Club - update

DeepvergeAnnouncement

04/07/2022 07:00

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RNS Number : 1166R  Deepverge PLC  04 July 2022

4 July 2022

 

DeepVerge PLC

 

("DeepVerge" or "the Company" or "the Group")

 

New consumer offering, Skin Trust Club, generates £1m plus sales

20 new skincare sales and marketing agreements in UK & US in Q2

 

DeepVerge plc (AIM: DVRG) is pleased to announce that its new consumer
offering, Skin Trust Club, powered by Labskin, has generated more than £1m in
sales and signed 20 new sales and marketing agreements ("Agreements")with new
era skin care companies so far this year, opening up multiple routes to
potential new revenues and market audiences across the UK and US.

 

These Agreements create three new potential sources of revenues:

1.       Client product validation on Labskin before being available on
Skin Trust Club marketplace;

2.       Affiliate fee income for sale of client skincare companies
products via Skin Trust Club and for Skin Trust Club sales via partner routes
to market; and

3.       Data for product development of new products.

The Agreements give Skin Trust Club access to a catalogue of more than 500
skincare products that are being tested and curated by Labskin scientists and
Skin Trust formulators, to offer Skin Trust Club members recommendations of
suitable skincare products for morning and evening skin care routines, based
on their personalised skin reports.

As Skin Trust Club data grows, increasing by thousands of new microbiome
samples each month, it creates a rich learning environment for the Company's
machine learning and AI. This world-leading skin microbiome database enables
the Company to offer digital test solutions on a range of skin diseases to
existing corporate clients and to the industry in general, for faster, better
and more cost effective product development, offering the potential for future
revenues for the platform.

Gerard Brandon, CEO of DeepVerge plc, commented:

"Skin Trust Club has evolved rapidly from a science based skin test in a
laboratory to a personalised skincare solution that offers a unique consumer
experience. By learning direct from consumers, with insights from the largest
and fastest growing skin microbiome database, we offer our partners new
compelling services,  that generate additional routes to markets and revenue
generating opportunities. We are delivering personalised beauty service
experience to the consumer on a platform that enhances the revenue streams of
Labskin, Skin Trust Club and our skincare clients."

 

 

 DeepVerge plc                                   Gerard Brandon, CEO         +44 (0) 7340 055 648

 SPARK Advisory Partners Limited                 Neil Baldwin/Andrew Emmott  +44 (0) 113 370 8974

 (Nominated Adviser)

 Turner Pope Investments (TPI) Limited (Broker)  Andy Thacker/James Pope     +44 (0) 20 3657 0050

 

 

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

 

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.

 

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.

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