Busy Dec quarter advances Skin Elements (ASX: SKN) on the path to commercialisation opportunities - Kalkine Media

Highlights

• Trial of ECO_Nurture on kiwi fruit farms in New Zealand progressed as a replacement to chemical and copper fungicides.
• Zespri International, a marketer of kiwifruit, is monitoring the ECO-Nurture trial.
• New Zealand MPI approval for SuprCuvr led to a new opportunity in the food processing industry.
• SKN is focused on tapping distribution opportunities for Soléo Organics sunscreen within the retail pharmacy sector.
• In the latest quarter, the company raised AU$200,000 through a placement.

Skin Elements Limited (ASX: SKN) has released its quarterly report for the period ended 31 December 2023. During the quarter, the organic and natural skin care products developer made significant strides towards tapping into significant commercialisation opportunities across its operations.

Moreover, the period saw an R&D rebate of AU$1.13 million concerning the R&D spend in the financial year 2023 and a capital raise of AU$200,000 through a placement of 20 million SKN shares at AU$0.01 per share.

Let’s look into these quarterly highlights.

Phase 2 testing of ECO-Nurture

ECO-Nurture, the latest product developed through SE Formula^TM biotechnology research and development, is being actively assessed as a viable substitute to chemical-based agricultural sprays used worldwide for crop disease protection.

During the latest quarter, SKN advanced phase 2 testing of the product in New Zealand. The testing included the trial of ECO-Nurture on ten kiwi fruit farms in North Island as an alternative to chemical and copper fungicides.

Zespri International, a major global marketer of kiwifruit, has granted approval and is closely overseeing these trials. The results of the trials are expected after harvest.

Worth mentioning here is that the initial outcomes of independent laboratory testing indicates that Eco-Nurture is effective against PSA bacteria, says the company.  

Test marketing assessment of SuprCuvr continues

SuprCuvr is a chemical-free disinfectant, which is currently under market testing phase. During the latest quarter, the company got approval from the New Zealand Ministry for Primary Industries (MPI) for use of SuprCuvr as a sanitiser, cleaner and disinfectant in premises processing all animal products for human consumption. Dairy products are not included in this category.

This development indicates towards a new market opportunity in the food processing industry, where specialist cleaning services are necessary.

After the test market assessment of SuprCuve in the transport and public health sectors, the company provided additional test marketing sales of the product for expanded scale assessment in the public transport sector, including stations and suburban train carriages.

Assessment of distribution opportunities for Soléo Organics

Soléo Organics is a chemical-free sunscreen developed by SKN.  

During the latest quarter, the company continued negotiations with a wellbeing and health retain chain in the UK, and also assessed manufacturing and distribution opportunities for this sunscreen formula while label ranges.

The company informed that independent laboratory testing of prime performance specifications for the UK market has begun, and the initial phase of system setup, documentation and due diligence is advancing.

Moreover, in the last quarter, SKN took part in an exclusive Rolls Royce Strive for Perfection: Celebrating 20 years of Goodwood event held in London. In the event, the company promoted this product to a high net-worth audience.

SKN shares traded at AU$0.006 on 5 February 2024.