Skin Trust Club - update

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 t hat 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	[phone]
SPARK Advisory Partners Limited (Nominated Adviser)	Neil Baldwin/Andrew Emmott	[phone]
Turner Pope Investments (TPI) Limited (Broker)	Andy Thacker/James Pope	[phone]

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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