DeepVerge PLC (AIM:DVRG, FRA:4RG) has completed the upgrade of its laboratories in York, which will enable it to increase the number of Skin Trust Club home test kits it can process.
Once the gene sequencing machines arrive – they are expected in September – the labs should be able to process up to 20,000 home test kits per month.
The life sciences and environmental group said demand from consumers and business-to-business-(B2B) partners, such as beauticians and dermatologists, has resulted in the completion of more than 5,000 tests, which was the limit of capacity up to the end of June.
Further demand has arisen from Labskin skincare corporate clients requesting to include home test kits before and after product and ingredient tests for each human test subject in contract clinical trials, which exceeds current service capacity and is expected to increase outside of any consumer-related marketing campaign, DeepVerge added.
While the company prepares to ramp up capacity to 20,000 tests a month in the UK, it is also planning to do the same in the US ahead of the launch of the test kits in the first half of next year. Furthermore, the group’s Labskin business is completing the development of ethnic skin model testing that will enable a similar volume of 20,000 units per month in China targeted for launch in the second half of next year in five major Chinese cities (Shanghai, Beijing, Tianjin, Shenzhen and Guangzhou) that have a combined population of around 80mln.
Ahead of today’s annual general meeting, the group also updated shareholders on the Microtox PD wastewater project.
The group said the first data transfer of detection of SARS-CoV-2 via Microtox PD units has been completed. The final stage of the validation process involves duplicate timestamped samples for independent polymerase chain reaction (PCR) testing with a third-party lab and includes deeper data integration with Strathkelvin Instruments, a company that develops instruments based upon precision dissolved oxygen measurement, for use in the biomedical research field.
READ DeepVerge inks deal with Chinese firm to manufacture environmental monitoring equipment
Lastly, the group revealed that the proposed joint venture (JV) scope with China Resources to manufacture and sell environmental monitoring equipment has been expanded. The timeline for reaching an agreement on the JV has been extended into the final quarter of this year.