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Neville Registrars is delighted to welcome NetScientific plc as the newest addition to its list of client companies.

NetScientific is a transatlantic healthcare IP commercialisation group which funds and develops companies that significantly improve the health and well-being of people with chronic diseases.

Further information can be found on the Company's website: https://netscientific.net/

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RNS Number : 7385X

Crimson Tide PLC

23 December 2019

 

Crimson Tide plc

 

("Crimson Tide" or the "Company")

 

Significant long-term contract win and trading update

 

Crimson Tide (TIDE) announces that it has entered into a significant long-term contract for its mpro5 solution with one of the country's leading supermarkets. The contracted revenue is for a minimum of £2m over the 60-month term. This contract is for an enhanced rollout of mpro5 including safety and legal compliance. It is delivered on a software only basis, replacing a previous contract and reducing support costs and capital requirements to fund expensive rugged PDAs, resulting in higher margins.

The Company expects profit before tax for the year to be substantially ahead of 2018 and in line with market expectation. Turnover for 2019 is expected to show an increase of approximately 15% on the previous year, lower than market expectation, reflecting the move away from lower margin hardware provision.

The Company also announces that it is currently engaged in several pilots in the transportation industry which are hoped to transition into subscriber contracts in 2020.

Barrie Whipp, Executive Chairman, commented:

"2019 has been a strong year for the Company and our profits have increased significantly. This is in the light of additional investment in our expanded, high level sales team, which has increased our pipeline and introduced solution sales as well as the integration of Internet of Things (IOT) sensors with mpro5. We have also enhanced mpro5 significantly during the year. We are very pleased to be able to reduce our investment in rugged devices, which will improve our margins over time. The team has generated a strong future pipeline of business and we are optimistic about our opportunities in facilities management, retail, healthcare and transportation, especially with our new IOT technologies."

 

For further information:

 

Crimson Tide plc

Barrie Whipp / Luke Jeffrey                          

01892 542 444

 

Arden Partners

John Llewellyn-Lloyd / Dan Gee-Summons

020 7614 5900

 

For further information on Crimson Tide plc, see the website at: www.crimsontide.co.uk/

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.

 

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RNS Number : 5690X

Immotion Group PLC

20 December 2019

 

Immotion Group plc

("Immotion Group", the "Company")

 

 Trading update – continued roll-out of headsets

 

Immotion Group, the UK-based immersive virtual reality ("VR") 'Out of Home' entertainment group, is pleased to provide a trading update. In particular, the Company has grown its installed headset base to 302. The split of headsets is currently as follows:

 

Segment	Headsets
Immotion VR	117
Partners	185
Total	302

 

Based on our visible pipeline, we expect to see a significant acceleration in new installation activity as we go into the New Year. We believe that our existing estate, combined with expected headset installations, will result in an installed base that should deliver monthly underlying EBITDA breakeven (based on our forecasted operating costs) by or around the end of Q1 2020. 

  

As previously announced on 30 July 2019, we are now focusing on our Partner model and more particularly, in the short term, on the aquarium sector. We have found that higher yielding opportunities are offered by "edutainment" verticals, and have shied away from the more general family entertainment centre market, which we believe is too crowded. 

 

We have seen significant interest from large numbers of aquaria, in both the USA and Europe, and we expect the majority of our installations in the short term to be in this segment. As we anticipated, this segment has outperformed the overall Partner segment, with average weekly revenue per headset, in the year to date, of £442, compared to an overall Partner average of £305.  We expect the average Partner revenue per headset to grow strongly as we increase the number of aquaria installations in the overall blend.

 

Whilst the initial appeal of our offering for partners has been ancillary revenue from a small footprint (2-4 headsets), we are beginning to see demand from very high traffic destinations for larger installations. These could become key exhibits in their own right and become more integral to the visitor experience.  We will update the market as these opportunities develop.

 

Consequently, we are very pleased to announce that following a successful trial at Sea Life London Aquarium, we will be increasing our installed headset base there from four to eight headsets to accommodate demand, creating a mini-themed cinema. 

 

We will also look to build on the early success of our location tailored Tower Coaster offering.  We have been able to design a 400-foot VR roller coaster ride over individual cityscapes, giving us the ability to provide a unique product to high footfall locations. This product has already been successfully deployed in Blackpool, at the iconic Blackpool Tower, operated by Merlin Entertainments.  We are currently in discussions with a number of other landmark destinations about this product.

 

Our nine own operated and staffed locations, trading as Immotion VR, have operated profitably, and whilst we do not intend to open further locations, preferring the Partner model, we will continue to seek to optimise the performance of these operations.

  

We expect 2019 full year underlying EBITDA loss to be in line with expectations and revenue to be in the range of £3.6-£3.8m, (towards the lower end of expectations). 

 

On a pro forma basis, the current average Partner weekly revenue per headset (£305) across the 185 installed partner headsets would generate annualised revenue of circa £3m. For 2020 we will focus on the higher yielding installations such as aquaria (£442 average weekly revenue per headset, year to date) and other "edutainment" verticals which we believe could offer similar returns. 

 

To this end in Q1 2020, we expect to launch exciting new "edutainment" experiences aimed at family-focused, high traffic destinations such as zoos; science centres and museums. 

 

Martin Higginson, Immotion Group CEO, said:

"We are pleased with the increasing momentum of interest in and uptake of our Partner offerings. We remain of the view that this is the right path in order to scale our business rapidly and to build a market leading position in the 'out of home' VR market.

We have seen really strong traction in the Aquarium sector and it is clear we have a compelling offer that is delivering strong results for ourselves and our partners. Take-up in this sector continues to be growing and we are also beginning to see interest in larger more 'integrated' installations.

Our Tower Coaster experience is proving extremely popular and we now have this operating in three UK cities with more enquiries coming through. The ability to be able to offer a tailored roller coaster experience 400 feet above a particular cityscape is a unique offering with global potential.

We also have some really exciting new experiences in development, which will allow us to open up other large global markets, such as zoos, science centres and museums.

Q1 2020 should be extremely busy and exciting for the Group. We move towards 2020 with growing confidence in our strategy, which is designed to allow us to scale rapidly. We look forward to updating the market further."

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014.

Enquiries:

 

 For further information please visit www.immotion.co.uk, or contact: 

 

Immotion Group	Martin Higginson	Tel: +44 (0) 161 235 8505
WH Ireland Limited (Nomad and Joint Broker)	Adrian Hadden  Darshan Patel Matthew Chan	Tel + 44 (0) 207 220 1666
Shard Capital Partners LLP (Joint Broker)	Damon Heath Erik Woolgar	Tel: +44 (0) 20 7186 9900
Alvarium Capital Partners	Alex Davies	Tel: +44 (0) 207 195 1433

 

 

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.

 

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RNS Number : 9024W

ValiRx PLC

16 December 2019

 

 

 

 

 

VALIRX PLC

("ValiRx", the "Company" or the "Group")

 

VAL201 UPDATE

 

"Positive Phase I/II data compiled"

 

London, UK., 16 December 2019: ValiRx Plc (AIM: VAL), the clinical stage biotechnology company, provides an update on the clinical progress of VAL201, ValiRx's lead Phase I/II therapeutic compound, for the treatment of prostate cancer and other indications of hormone-induced unregulated growth, including endometriosis.

As the Company anticipated in March 2019, the VAL201 trial is coming to a conclusion.  The trial data collected to date is undergoing collation and verification, in addition to statistical and scientific analysis.  This is prior to its submission to the relevant regulatory authorities.  Until regulatory approval has been reached and all the trial data has been verified, limited preliminary observations can be inferred.

 

The results appear, in advance of full analysis, to indicate that the VAL201 compound has a clear impact on patients with prostate cancer, as measured by PSA – evidence that is supported from tumour imaging (MRI and CT) in subjects.  The compound has also shown it is very safe and has a high degree of tolerability, up to a dose that is in excess of the predicted dose and any practical therapeutic concentration. 

 

The results, along with a full statistical and scientific analysis, will be submitted to the relevant regulatory authorities as is required, at which point the detailed results will be made publicly available. However, in the interim, it is intended that the trial's preliminary observations may be presented at various academic conferences, as part of the compound's ongoing reporting and analysis. 

 

Scientific Summary:

·      All data collected to date during the clinical trial of VAL201, is currently being reviewed and collated by the data analytics team.

·      The data will be secured after it has been entered into the record, collated and verified, whilst some additional data is still to be collected from various providers, contractors and from patients and then entered into the record.

·      Beyond the fundamental safety and tolerability endpoints for the trial, the study is providing accurate pharmacokinetic information about the uptake, distribution, metabolism and elimination of the compound in humans.  As such, VAL201 continues to address its endpoints in its first-in-human study. 

·      A late-stage study designed to determine the overall effectiveness of VAL201 and the most effective therapeutic strategies for its use in disease management, is now possible.  This late-stage study will be designed and set up, in parallel to the conclusion of the current early-stage Phase I/IIa trial.

 

VAL201 has been developed in collaboration with Cancer Research (CRUK) and is a decapeptide with potential in treating hormone-dependent and hormone-independent prostate cancer, currently a poorly served multi-billion dollar commercial market.

 

Dr Satu Vanikka, CEO of ValiRx Plc, commented:

"With prostate cancer reported this month in an academic study as being the most common cancer in men in the UK* and with an estimated 1.3 million new cases of prostate cancer occurring worldwide last year**, it is truly exciting to see VAL201 approaching the conclusion of its Phase I/II first-in-man study."

"I look forward to regulatory approval of the trial data being speedily reached and the opportunity of potentially demonstrating that VAL201 can address this widespread and often fatal disease in men."

 

Sources:

*https://www.bristol.ac.uk/news/2019/december/prostate-cancer.html

** Global cancer statistics 2018: GLOBOCAN estimates of incidence and mortality worldwide for 36 cancers in 185 countries by Bray F, Ferlay J, Soerjomataram I, Siegel RL, Torre LA, Jemal A in CA: A Cancer Journal for Clinicians

 

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

 

*** ENDS ***

 

For more information, please contact:

 

ValiRx plc	Tel: +44 (0) 20 3008 4416 www.valirx.com
Dr Satu Vainikka, Chief Executive	Tel: +44 (0) 20 3008 4416
Tarquin Edwards, Head of Communications.	Tel: +44 (0) 7879 458 364 [email protected]
Cairn Financial Advisers LLP (Nominated Adviser) Liam Murray / Jo Turner / Ludovico Lazzaretti	Tel: +44 (0) 20 7213 0880
Allenby Capital Limited (Joint Broker) Jeremy Porter / Alex Brearley (Corporate Finance) Kelly Gardiner (Equity Sales)	Tel: +44 (0) 20 3328 5656
Novum Securities Limited (Joint Broker) Colin Rowbury	Tel: +44 (0) 20 7399 9400

 

Notes for Editors

About ValiRx

ValiRx is a biotechnology oncology focused company specialising in developing novel treatments for cancer and associated biomarkers. It aims to make a significant contribution in "precision" medicine and science, namely to engineer a breakthrough into human health and well-being, through the early detection of cancer and its therapeutic intervention.

 

The Company's business model focuses on out-licensing therapeutic candidates early in the development process. By aiming for early-stage value creation, the company reduces risk considerably while increasing the potential for realising value. The group is already in licensing discussions with major players in the oncology field.

 

ValiRx's two classes of drugs in development, which each have the potential for meeting hitherto unmet medical needs by existing methods, have worldwide patent filings and agreed commercial rights.   They originate or derive from World class institutions, such as Cancer Research UK and Imperial College. 

 

Until recently, cancer treatments relied on non-specific agents, such as chemotherapy.  With the development of target-based agents, primed to attack cancer cells only, less toxic and more effective treatments are now possible. New drugs in this group-such as those in ValiRx's pipeline-promise to greatly improve outcomes for cancer patients.

 

The Company listed on the AIM Market of the London Stock Exchange in October 2006 and trades under the ticker symbol: VAL.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.

 

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RNS Number : 8844V

Chamberlin PLC

06 December 2019

 

AIM: CMH

6 December 2019

 

 

CHAMBERLIN PLC

("Chamberlin" or the "Company")

 

 

Contract award for Walsall foundry

 

Chamberlin, the specialist casting and engineering group, is pleased to announce the successful award of new business to supply iron castings, out of the Walsall based foundry to Roadcraft Safety Products ("Roadcraft") based in Somerset.  Roadcraft is a key supplier of "cats eyes" to the UK and a number of overseas highways agencies.

 

Production has now commenced and is expected to reach approximately £0.4 million per annum. Chamberlin's Walsall foundry continues as one of the UK's principal high volume suppliers of bearing housings to the European automotive sector.  The ongoing contract with Roadcraft represents an opportunity to diversify the customer base of the Walsall foundry beyond the automotive sector.

 

Kevin Nolan, Chief Executive of Chamberlin commented:

 

"It is particularly pleasing to be awarded this new business with a new customer outside of the automotive sector in order to reduce our reliance on the production of bearing housings to the automotive sector, upon which our reputation has been built".

 

 

 

Enquiries

 

Chamberlin plc Kevin Nolan, Chief Executive Neil Davies, Finance Director		T: 01922 707100
Cenkos Securities plc (Nominated Adviser and Broker) Russell Cook Katy Birkin		T: 020 7397 8900
KTZ Communications (Financial PR) Katie Tzouliadis Dan Mahoney		T: 020 3178 6378

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.

 

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CNTTABFTMBMMBLL

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RNS Number : 8839V

Chamberlin PLC

06 December 2019

 

AIM: CMH

6 December 2019

 

 

CHAMBERLIN PLC

("Chamberlin" or the "Company")

 

 

Contract award for Scunthorpe foundry

 

Chamberlin, the specialist castings and engineering group, is pleased to announce the award of a significant new order for Russell Ductile Castings Limited, Chamberlin's iron and steel casting foundry based in Scunthorpe.  The new order is for the supply of flap valves for the construction of the Thames Tideway Tunnel.

 

The initial order is for £0.9 million and represents approximately 50% of the total value of the contract which is worth up to £1.8 million.  Production of the valves will commence in the current financial year, although the full benefit of the order will be seen through 2020 and beyond.

 

 

Kevin Nolan, Chief Executive of Chamberlin commented:

 

"In securing this very material order it is pleasing to note that Russell Ductile Castings is one of only a few foundries based in the UK capable of producing the cross section of complex castings required for this project. This order will go a long way towards securing production at the Scunthorpe facility for the foreseeable future".

 

 

 

Enquiries

 

Chamberlin plc Kevin Nolan, Chief Executive Neil Davies, Finance Director		T: 01922 707100
Cenkos Securities plc (Nominated Adviser and Broker) Russell Cook Katy Birkin		T: 020 7397 8900
KTZ Communications (Financial PR) Katie Tzouliadis Dan Mahoney		T: 020 3178 6378

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.

 

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CNTFSWFMIFUSESE

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Neville Registrars is delighted to welcome OneView Group Limited as the newest addition to its list of client companies.

 

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RNS Number : 5212U

Modern Water PLC

25 November 2019

 

 

 

 

 

Modern Water plc

 

("Modern Water", "the Company" or "the Group")

 

 

Modern Water sells its largest-ever AMBC for Korea Salt Production Facility

 

For immediate release	25 November 2019

 

Modern Water plc (AIM: MWG) is pleased to announce that it secured the sale of its largest by volume All-Membrane Brine Concentrator technology ("AMBC"), to be used in South Korea's first deep seawater salt production project. The plant will have capacity for treating approximately 13m3/h, concentrating sea water sourced from a depth of up to 600m. Salt production from seawater offers environmental benefits compared to land-based salt mining, which can result in environmental problems due to the waste it generates and the health hazards posed to salt miners.

 

The AMBC project will be executed by Modern Water, owner of leading technologies for water and wastewater treatment, in conjunction with its partner in China, Hangzhou Shangtuo Environmental Science and Technology Co., Ltd ("Sunup").   

 

Simon Humphrey, CEO of Modern Water commented: "Our partnership with Sunup is capable of delivering our innovative technology directly to customers across China – and now also in Asian markets beyond China, such as South Korea.  This is Modern Water's largest single AMBC plant yet and follows on from various successful plants we have designed with our partners in India and China."  

 

Noah Tan, CEO of Sunup, added: "As the key process in this salt production project we will be using Modern Water's AMBC, the high saline modular concentration technology. AMBC allows our customers to achieve higher concentration levels than traditional membrane techniques and reduces the need for chemicals in salt production.  AMBC is a step-change in efficiency, significantly reducing operating costs for our customers. It is also versatile and can be used across many different industries."

 

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

 

–Ends–

 

 

For further information:

 

Modern Water plc	+44-(0)20-38273439
Simon Humphrey, Chief Executive
Cairn Financial Advisers LLP (Nominated Adviser)	+44 (0) 207 213 0880
Sandy Jamieson / Tony Rawlinson Ludovico Lazzaretti
Turner Pope Investments (Broker) Andy Thacker / Zoe Alexander	+44 (0) 20 3657 0050

 

Notes to editors:

 

Modern Water is a pioneering and innovative technology company, specialising in membrane water treatment solutions and advanced monitoring products. The Company works for customers in a range of industries across the globe and owns proprietary technologies for use in a diverse range of applications. Modern Water's Monitoring Division has a portfolio of world-leading toxicity and trace metal monitoring products, some of which constitute the regulatory standard. The headline technology of the Company's Membrane Division, called "AMBC", can be used to tackle complex wastewater treatment problems at a reduced cost compared to standard processes, while being simple to operate.

www.modernwater.com

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.

 

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DISLIFEALTLEFIA

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RNS Number : 9540T

Integumen PLC

20 November 2019

 

AIM share code: SKIN

 

20 November 2019

 

Integumen PLC

 

("Integumen" or "Company")

 

Integumen announces successful results of AI water research project

 

Rinocloud AI remotely detects contaminated water with 99.3% accuracy in 3.37 seconds

 

 

Integumen today announces the successful results of a three-year development Remote Automated Water Test research project (RAWTest), using Artificial Intelligence (AI) in a consortium partly funded by the Irish Environmental Protection Agency (EPA).  

 

The Project

The consortium comprised of the Irish Environmental Protection Agency (EPA), Cork Institute of Technology's (CIT) Centre for Advanced Photonics & Process Analysis (Cappa Group), the CIT Nimbus embedded systems research institute and the AI team from Integumen's Rinocloud subsidiary. 

 

Rinocloud's AI platform was used to test water samples from a fully autonomous data buoy deployed on the Inniscarra Water Reservoir in Cork, Ireland, for E.coli, a bacterium that can cause illness in humans, including diarrhoea, abdominal pain, fever and sometimes vomiting.

 

Results: The positive detection of E.coli bacteria in the water was detected with 99.3% accuracy in 3.37 seconds.  This compares to current standard test detection time of between 5-7 days.

 

Gerard Brandon, CEO of Integumen plc, comments:

"Integumen continues to lead the way with practical demonstrations of solutions for real-world problems.  Remote detection of water contamination across the globe is a first and third world problem with future climate change threatening to increase flooding and contribute to water shortages.  This means increased reliance on recycling and recovery of water supplies, which in turn requires wireless monitoring of all water supplies before consumer consumption.  RAWTest, we believe, can contribute to keeping our water, and healthcare, safe."

 

Wireless RAWTest

·      Rinocloud's AI engine analysed wireless transmission of water data for 13 key AI features, which work as indicators, from 1000+ data elements identified by Raman Spectroscopy.

·      Results showed a 99.3% accuracy in identifying E.coli in water

·      A system of exception alarms was set up by email to escalate a positive sample to the appropriate control group

·      All data was immediately available on the secure Rinocloud portal for access by approved parties for immediate action

·      Potential for other microscopic parasite detection, e.g. Cryptosporidium and Giardia, following data samples input.

 

Water Scarcity:

Water scarcity is the lack of freshwater resources to meet water demand.  It affects every continent and was listed in 2019 by the World Economic Forum as one of the largest global risks in terms of potential impact over the next decade[i].

 

The deployment of wireless RAWTest Buoys in water treatment plants would be a world first and have a positive impact on water consumer service metrics, reducing the average length of time water would be shut off in the event of contamination, reduced "boil-water" notices and faster time to restore supply, as well as biological quality.
 

RAWTest Opportunities:

·      With 20 species of Listeria bacterium, every public building including hospitals, hotels, conference halls and senior citizen nursing homes are at risk of contamination

·      Remote detection and analysis of malaria in blood in third world-countries and for military use

·      In-line milking machines could detect mastitis in a single cow, enabling instant action to eliminate contamination with a dairy herd milk collection

·      Early warning system in fermentation processes for ethanol, alcohol and wine producers at risk of bacterial hazard to improve consumer safety, shelf-life stability and longevity

 

Contacts

 

Integumen plc	Gerard Brandon, CEO	+44 (0) 7340 055 648
SPARK Advisory Partners Limited (Nominated Adviser)	Neil Baldwin/Andrew Emmott	+44 (0) 113 370 8974
Turner Pope Investments (TPI) Limited (Broker)	Andy Thacker/Zoe Alexander	+44 (0) 20 3657 0050

 

About Integumen: www.integumen.com

Integumen is a vertically integrated product and services company for skin related diseases, treatments and therapies with four business units: 

 

·      Labskin AI's technology platform incorporates artificial intelligence within clinical research for medical device, pharmaceuticals, cosmeceuticals and related life science test services.  Labskin allows skincare, healthcare, pharmaceutical manufacturers and cosmetic companies to test their products on human-like skin in a real-world environment with full access to multiple state-of-the-art partner technologies.

·      Rinodrive is a data aggregation, refining and AI analysis open-source eco-system designed to provide third-party service providers the ability to offer their clients valuable insights that support clinical, operational and financial decisions in healthcare services, third-level education, government departments and the financial sector.

·      Wound pHase is developing skin and wound care products using its proprietary wound dressing technology. Working in collaboration with CBD providers creating a CBD infused diabetic wound care product range.

·      Stoer-for-men skin products e-commerce division offers a range of skincare products derived from 5 natural super-ingredient plant extracts specifically for men to reduce the signs of ageing and is also used as a control for client testing within Labskin laboratories.

 

About RNS Reach announcements

RNS Reach is an investor communication service aimed at assisting listed and unlisted (including AIM quoted) companies to distribute media only / non-regulatory news releases such as marketing messages, corporate and product information into the public domain. An RNS Regulatory announcement is required to be notified under the AIM Rules for Companies.

 

---

[i] https://www.weforum.org/reports/the-global-risks-report-2019

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.

 

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RNS Number : 1821T

Integumen PLC

13 November 2019

 

AIM share code: SKIN

 

13 November 2019

 

Integumen PLC

 

("Integumen" or "Company")

 

Integumen shares revenue to deliver AI data solutions across Parity plc UK NHS clients

 

Trading update provides 2020 guidance of £4m prior to Parity Agreement

 

 

Integumen announces that it has signed Heads of Terms with Parity plc to enter a multi-year Framework Agreement ("Agreement") to be completed on or before the 18 December 2019 for the supply of Artificial Intelligent ("AI") software across Parity's National Health Service ("NHS"), Central Government and Private Institutional clients.

 

This Agreement creates an opportunity to cross-sell intelligent data management, extracting value using analytics, with a focus on proving return on investment, to Parity's 150+ institutional clients.  The software includes full GDPR compliance with secure cloud data migration from existing legacy systems to a digital workplace through the military grade encryption "Drive4Growth" AI platform powered by Integumen's Rinodrive.

 

Combined benefits:

·      Recurring shared revenue streams for both Parity and Integumen in 2020

·      Value-added proposition in demand from Parity clients with c. 3 to 5-year annual contracts

·      Immediate access to 150 public and private institutional clients

·      Trusted approved vendor for Government and private sectors for over 45 years

·      1,000+ data experts and 100+ enterprise sales and office professionals

·      Existing cross-over access to educational institutional research facilities

·      Access to multiple industry, public and private sector distribution routes to market

·      Well defined roadmap to next level business growth for both Parity and Integumen

 

Six-month trading update:

In May 2019, Integumen acquired Rinocloud Limited for £3m to enable LabskinAI to uses the Rinodrive AI platform to provide cloud-based data services to Integumen's Top 20 global skincare clients.  By the end of June 2019, Rinocloud reached monthly profitability, and over the last six months (May to October) exceeds revenue from Labskin this financial year.

 

Outlook:

Since 2018, the Company has seen average sales grow from £5k for consumable, one-off sales to 2019 average sales of £50k as a service contract.  Heading into 2020, Integumen is engaging with multiple top 20 global skin and personal care companies and believes average sales are likely to range between £100k to £500k for data as a service to skincare R&D framework multi-year agreements, providing good visibility of revenue.  Therefore, excluding developments that may arise from Integumen entering into the agreement with Parity Group plc, the Company is guiding 2020 revenues of £4m.

 

Gerard Brandon, CEO of Integumen plc, comments:

"We are delighted to be able to roll-out the Drive4Growth AI platform in partnership with the credibility and reputation that Parity data experts hold, with an extensive, if not exhaustive, list of public and private institutions. We look forward to working alongside Parity to extract greater value for their clients and contribute to the transformation of the UK's National Health Service, public and private institution data over the next few years."

 

Matthew Bayfield, CEO of Parity Group plc, comments:

"Parity is pleased to be partnering with Integumen and rolling out the Drive4Growth AI platform to our client base.  We have been working with many of the same clients for 45 years, so we understand their needs.  With healthcare sector data growth in 2020 expected to double every 73 days, our clients need to securely manage and extract greater value using analytics and AI in order to make important decisions.  The Drive4Growth AI platform delivers on those requirements, increases revenue per client, increases client contract term and generates a higher margin, leading to greater profitability."

 

Contacts

 

Integumen plc	Gerard Brandon, CEO	+44 (0) 7340 055 648
SPARK Advisory Partners Limited (Nominated Adviser)	Neil Baldwin/Andrew Emmott	+44 (0) 113 370 8974
Turner Pope Investments (TPI) Limited (Broker)	Andy Thacker/Zoe Alexander	+44 (0) 20 3657 0050

 

About Integumen: www.integumen.com

Integumen is a vertically integrated product and services company for skin related diseases, treatments and therapies with four business units: 

 

·      Labskin AI's technology platform incorporates artificial intelligence within clinical research for medical device, pharmaceuticals, cosmeceuticals and related life science test services.  Labskin allows skincare, healthcare, pharmaceutical manufacturers and cosmetic companies to test their products on human-like skin in a real-world environment with full access to multiple state-of-the-art partner technologies.

·      Rinodrive is a data aggregation, refining and AI analysis open-source eco-system designed to provide third-party service providers the ability to offer their clients valuable insights that support clinical, operational and financial decisions in healthcare services, third-level education, government departments and the financial sector.

·      Wound pHase is developing skin and wound care products using its proprietary wound dressing technology. Working in collaboration with CBD providers creating a CBD infused diabetic wound care product range.

·      Stoer-for-men skin products e-commerce division offers a range of skincare products derived from 5 natural super-ingredient plant extracts specifically for men to reduce the signs of ageing and is also used as a control for client testing within Labskin laboratories.

 

About Parity Group: www.parity.net

Parity helps organisations find the right people, skills and data to support data-led business decisions. Providing advice on data and with access to qualified personnel with skills offered, either as a managed service, through resourcing in the contract or permanent market or as part of a learning and development programme.

Income derives from a mix of long-term contracts with public and private sector organisations as well as expanded projects with existing clients as a result of strong relationships and a track record of high client satisfaction. Key highlights comprising of:

·      Over 45 years of expertise in public and private recruitment and service contract sector

·      More than 100 employees across the UK

·      Client numbers exceed 150 in both UK and Ireland

·      Associate numbers supporting client services exceeds 1,000

 

RinoDrive "Drive4Growth": www.rinodrive.com

A fully integrated set of software tools that can ingest data, in any volume, from any source in any format, interact with it, learn from it and enrich it to unlock insights and discoveries.

This data management solution was developed by scientists and engineers with experience in software, sensors, AI, optofluidic research, fintech, green-tech, travel and healthcare.

It was designed to allow interaction, in a cyber-secure environment, with commercially sensitive data, and to share insights across multi-disciplinary teams, generating different data formats, from multiple sources, located in different countries.

RinoDrive delivers big data, AI functionality and world class infrastructure to large companies with big data problems. These include financial services, education and life science companies. Most recently completing the automation of laboratories and application of AI to unearth more knowledge about the skin microbiome. This led to the acquisition in May 2019 by Integumen PLC, to secure access to, and the exploitation of data from some of the largest cosmetic, pharmaceutical and medical companies in the world.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.

 

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