The latter first. Subsidiary Labskin 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,” the release said.
The Labskin product is an artificial skin that is used to test cosmetics and new skincare lines, while LabskinAI is a computerised version of the technology.
Integumen chief executive Gerard Brandon said the Innocare deal provided a “foothold into the fast-growing Chinese market”.
Innocare CEO Charles Xu 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."
In a brief update to trading, Integumen said its turnover had grown to £1.004mln in the financial year from £274,000 previously, driven by demand for its Labskin and LabskinAI services. The impressive growth was registered in spite of a six-week delay in opening its new York laboratories.