Business Irish

Thursday 18 January 2018

Integumen plots £2.2m AIM listing

Capital markets

It plans to commence dealing on April 5. Stock photo: Reuters
It plans to commence dealing on April 5. Stock photo: Reuters
Gavin McLoughlin

Gavin McLoughlin

Dalkey-based healthcare company Integumen is planning to raise £2.25m (€2.6m) via a listing on the Alternative Investment Market in London.

The company, chaired by Venn Life Sciences' chief executive Tony Richardson, said its expected market capitalisation would be £8.25m after the transaction. It plans to commence dealing on April 5.

Integumen was set up "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", according to a document put together by the company.

Its products focus on the areas of skin care, oral care and wound care.

"Integumen operates predominantly in the non-prescription health and personal care market," the document adds.

"At present, no product within Integumen's portfolio needs costly and time-consuming regulatory approvals, which would be required for pharmacological products, or those products claiming medical efficacy," the document reads.

The money raised will be used for working capital, product development, plus sales and marketing.

Integumen's chief executive is Declan Service, who has worked at Venn alongside Richardson. Service and Richardson are Integumen's founders. Set up in May, Integumen went on to acquire one of Venn Life Sciences' subsidiaries, Innovenn.

"We have acquired four highly scalable businesses to bring together an impressive portfolio of technologies and products we can develop and commercialise in our chosen markets," Service said.

"The late-stage development of many of our products means Integumen is now focused on their marketing, sales and distribution."

Sunday Indo Business

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