Evocutis secures a raft of new contracts

SKIN research business Evocutis today announced 10 new contracts as it continues the search for a strategic partner to secure its future.

The Wetherby company said the contracts were worth a total of £280,000 including early direct sales of its LabSkin which it describes as a “living skin equivalent”, a research tool that replaces animals for the testing of products to be used on human skin.

The contracts, worth between £9,000 and £88,000 all with well known global consumer healthcare companies, are expected to be delivered over a two to six month period.

Gwyn Humphreys, chief executive of Evocutis, commented: “The significant combined contract value means that Evocutis is on course to meet management expectations and strengthens the company’s position in its ongoing search for a strategic partner, as announced in December.”

Last month the group, which made losses of £1.68m last year, appointed advisers Growth Innovators Group and Zeus Capital to review “strategic options open to the company to maximise value for shareholders” which could include an offer for the business.

Mr Humphreys added: “I am delighted that the uptake of LabSkin is increasing and that our clients – all of which are household names – are seeing a clear benefit over alternative skin models available either commercially or in house.

“This validates our strategy of selling the product directly, as well as continuing to provide a full service offering to clients who require it.”

Click here to sign up to receive our new South West business news...
Close