London Stock Exchange welcomes Integumen Plc to AIM
Integumen PLC was today welcomed at a special ceremony hosted by the London Stock Exchange to mark the occasion of its Initial Public Offering and the admission of its ordinary shares to AIM on 5 April 2017. The Company raised gross cash proceeds of £2.25m, and floated this morning with a market capitalisation of £8.25 million.
Integumen is a personal health care company developing and commercialising technology and products for the human integumentary system that may improve physical appearance, hygiene and general health outcomes.
The integumentary system consists of the skin, hair, nails, glands, and nerves. Its main function is to act as a barrier to protect the body from the outside world. It also functions to retain body fluids, protect against disease, eliminate waste products, and regulate body temperature. In order to do these things, the integumentary system works with all the other systems of your body, each of which has a role to play in maintaining the internal conditions that a human body needs to function properly .
The Company was established to focus on commercialising technologies in the health and personal care products market which are either on the market or at an advanced stage of product development. The skincare range focuses on anti-ageing and blemish control solutions, oral care is for hygienic purposes and wound care for the diagnosis of chronic wounds.
Integumen presently consists of four wholly-owned subsidiaries: UK-based Innovenn and Lifesciencehub, TSpro in Germany, and Integumen Inc in the United States.
The Company has assembled a portfolio of products, technologies and associated know-how, which broadly focus on applications with identified and growing markets within skincare, oral care and wound care. The Directors believe that owning a range of products, technologies and know-how provides a portfolio approach that reduces the risk for investors of any one product or technology.
The Group operates largely in markets in which products do not need regulatory approvals or clearances or medical trials to be conducted. Some of Integumen’s products have been, and in future will be, subject to clinical studies. However, the purpose of these clinical studies, which are typically much cheaper than medical trials and take a shorter time to conduct, is pre-dominantly to produce efficacy data, or to demonstrate a comparison with competitor products, in order to support marketing claims.
SPARK Advisory Partners Limited have been acting as the Nominated Adviser and Turner Pope Investments (TPI) Ltd have been acting as broker.
Commenting on the result of the IPO, Declan Service, CEO of Integumen said:
"I am delighted that Integumen is joining AIM today. This is an important and transformational step for the Company and we believe our AIM listing will unlock the value of our portfolio of products, technologies and know-how in the growing markets of wound care, oral care and skincare. Integumen has a well-defined strategy and we are now focused on further developing our products and commercialisation."