Company
LON:DVRG
Deepverge PLC 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.
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Using DeepVerge’s newly-developed AI data analytics, the plan is to create a breathalyser that can immediately and accurately detect the SARS-CoV-2 virus, providing a point of care diagnostic
Shares rose 8% to 36.75p on the news, which compares to the broker’s target of 84.8p.
A glance at some of the day's highlights from the Proactive Investors newswire
Researchers found the average virus breath condensate sample provided a nine-times higher signal than the control group
Microtox FX and Microtrace PDV can detect a broad range of water contaminants as well as the presence of specific heavy metals during emergencies
"Modern Water Shanghai has proven to be instrumental in the successful turnaround of DeepVerge's recently acquired environmental division," said CEO Gerard Brandon
The environmental and life science technology firm said it has signed contracts for the production of water contamination equipment worth around £3.6mln
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Surgical Innovations Group 2.15p £20.01m (LON:SUN) The designer, manufacturer and distributor of innovative medical technology for minimally invasive surgery ("MIS"), announces a new USA distribution agreement with Microline Surgical Inc. (
The agreement, which will be completed by March 31, will allow for the supply of Microsaic's contamination detection equipment and services across DeepVerge's sales network as well as its marketing and distribution channels
The new facilities will provide space to support the launch of the Skin Trust Club, an AI-driven skincare app coming soon
The Skin Trust Club will recommend a customised skincare routine derived from a home test kit, lab tested and linked to the local environment via a free smartphone app that updates in real-time
The AI firm also reported a 300% increase in revenues for 2020 to £4.4mln and confirmed forecasts of £10mln in revenues for 2021
The deals include framework master services agreements with two of the world's largest suppliers of consumer products related to skincare
The company said it remains on track to hit its expectations for full-year revenues of £4mln - excluding the contribution from recently acquired Modern Water
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A glance at some of the day's highlights from the Proactive Investors newswire
Labskin was used for real-world testing of anti-viral compounds
The company said phase 3 field trials of the breathalyser are expected to begin shortly at multiple sites in Northern England, with datasets anticipated to be completed in early 2021
There has been press commentary about the detection of coronavirus in UK sewage, prompting DeepVerge to observe its technology can help with detection efforts
“This adds to the existing growing business of Labskin and further underpins the guided revenue of £4m for 2020,” the company said
