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DeepVerge hails the early success of new R&D platform

The deals include framework master services agreements with two of the world's largest suppliers of consumer products related to skincare

DeepVerge PLC -
The platform incorporates artificial intelligence to help crunch through data faster and more accurately

DeepVerge PLC (LON:DVRG) said a new R&D service designed to quickly validate the impact of ingredients such as probiotics and prebiotics on the skin microbiome has enjoyed significant success.

‘Soft launched’ in August, it has already generated £400,000 in completed sales in the fourth-quarter having inked agreements with 10 new clients that had previously not used the company’s Labskin offering.

The deals include framework master services agreements with two of the world's largest suppliers of consumer products related to skincare, DeepVerge revealed.

The company designed and built its new service around three key platforms: its Labskin platform, which has the ability to grow human skin; its expertise in replicating the skin's microbial environment; and an AI technology that “helps with speed, accuracy and insights”.

“While we will fully launch the product at conferences across all regions in 2021, it has already resulted in significant interest and orders from existing and new clients as well as from new clients in new sectors and markets,” said chief executive Gerard Brandon in a statement.

Quick facts: DeepVerge PLC

Price: 27.25 GBX

AIM:DVRG
Market: AIM
Market Cap: £46.39 m
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