Integumen shoots up on Labskin AI rollout

Integumen leapt on Friday as it announced the roll-out of its Labskin AI product, a cloud-based digital life science, automation management tool.

The software platform is a 'laboratory to market' collaboration and partnership management services platform which acts as an extension to the physical Labskin laboratory grown human skin-testing services for the cosmetics, wound care, health care, personal care and pharma industries.

According to the AIM traded company, clients will be able access both the digital and physical end to end clinical test automation services, enabling service providers and their clinical test laboratory equipment to small, medium and large buyers of these services.

Gerard Brandon, chief executive of Integumen, said: "The blending of Labskin AI digital software, designed for collating, structuring, analysing of experimental data, and the physical "wet lab" science, enabled by automation, delivers a seamless transfer of data from clinical service providers, right through to the buyers of clinical test services."

According to Market & Markets, the global laboratory equipment services market is expected to be worth $11.51bn by 2021 growing at 10% per year.

Integumen said that, as the majority of this equipment is operating in isolation, the Labskin AI software platform has been designed to digitally connect, integrate and enable clinical service providers and their laboratory equipment and offer their services directly to Labskin AI subscriber clients.

"This merger of digital - simulation - and physical - execution - is transforming the experimental and data analytics approach to life science. Labskin AI is the life science equivalent of Airbnb, offering remote contract rental of laboratory equipment from services providers to buyers of those clinical test services," said Brandon.

Integumen's shares were up 15.95% at 0.94p at 1551 GMT.