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Integumen inks £3mln deal with Modern Water

In the same announcement, the company said it was doubling the size of Labskin Laboratories in York

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Integumen PLC (LON:SKIN) said it has signed a three-year deal with Modern Water worth a headline £3.12mln.

It will manufacture and provide logistical support for the latter’s monitoring reagent consumables.

The revenue share split is 60%-40% in favour of Modern Water after costs and is subject to rolling 12-month extensions.

“This agreement demonstrates the demand for Integumen's services and our capacity to maintain exponential growth regardless of the uncertainties of Brexit or the coronavirus,” said chief executive Gerard Brandon.

“In addition to the production of the bacteria reagents, our AI division is exploring options to develop data analytic tools for Modern Water monitoring equipment, with the potential to add higher-value bolt-on real-time alert services leading to increased revenue per client."

In the same announcement, Integumen said it was doubling the size of Labskin Laboratories in York in the second quarter to 6,000 square feet, adding six more laboratory rooms in order to meet growing demand.

Quick facts: Integumen

Price: 1.75 GBX

AIM:SKIN
Market: AIM
Market Cap: £18.77 m
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