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DeepVerge new Labskin service rakes in £400,000 in orders in Q4
StockMarketWire.com
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Environmental and life science company DeepVerge said its new R&D service, launched in August 2020, had already generated £400,000 in completed sales in the fourth quarter with agreements with 10 new clients that had previously not used Labskin services.
These agreements included framework Master Services Agreements with two of the 'world's largest suppliers of consumer products related to skincare,' the company said.
The new R&D service added to the existing client offering and increased revenue per client, delivering higher value test services on ingredients used in an expansive range of products - from anti-viral, to shampoos to babies' nappies.
The new service replicated skin conditions of the scalp, face, mouth and abdomen. It also utilised AI which had significantly improved the speed and accuracy of testing ingredients on virtual skin models, it added.
At 9:58am: (LON:DVRG) share price was 0p at 22.5p
Story provided by StockMarketWire.com
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