DeepVerge PLC said it is exploring options for its Labskin Division in response to the success of Skin Trust Club as it announced a "significant reorganisation of the group"
The environmental and life sciences group told investors there has been “interest and increased discussions” with skincare corporations, US drugstores and venture capital companies.
As a result, it is exploring options to meet the “unprecedented demand” for Labskin, a test platform that proves the impact of skincare products, and Skin Trust Club, a tracking app that enables individuals to better understand their skincare needs.
DeepVerge’s Health/Life Sciences Division comprises Labskin Services and Skin Trust Club.
Since 7 June it has run independently from the Environmental Divisions, the statement said.
Since January 2022, there have been 38,000 Skin Trust Club kits tested, 27,000 members and 300 plus products added to the marketplace.
"Due to the pace of growth of the consumer-facing Skin Trust Club business, which can be compared to a Silicon Valley SaaS type service, demand is far outstripping supply for the home skin-test kits,” said chief executive Gerard Brandon.
“The board believe it is necessary to explore options to maintain this level of growth within an expanded group structure,” Brandon added.