Venn Life Sciences Share News (VENN)

Clinical research organisation Venn Life Sciences announced its innovation division Innoven has secured its first skin patent for its anti-acne complex from the European Patent Office.The patent is expected to reduce bacteria, inflammation, and excess oiliness in less than four hours and will be ready to launch later this year, after undergoing over five years of scientific research.The group, which has begun commercial discussions on Labskin, the research grade human skin testing platform, announced its revenue flows from Labskin are anticipated to be generated later in the year.Chief Executive Officer Tony Richardson said: "After five years of dermatological research, testing and consumer trials, this patent grant confirmation from the European Patent office is a substantial step forward in the commercialisation of this unique anti-acne complex. "Since our acquisition of the assets of Evocutis in March of 2014, Innovenn have made tremendous progress in terms of bringing our anti-acne and living skin equivalent technology to the marketplace."WS