Local healthcare innovation company Hexislab is set to extend its reach to major cosmetic companies following a £120k investment from Northstar Ventures.
Hexislab uses data mining and machine learning technology to identify natural and organic compounds that can be used by the skincare industry to address issues such as anti-ageing, skin repair and protection, focusing toward Global skin types – an area which has largely been ignored by the industry to-date. These innovative research and development (R&D) processes are the result of a consultation relationship between Hexislab and advisers, including Professor Mark Birch-Machin from Dermatological Sciences at Newcastle University.
The funding, from the Finance for Business North East Proof of Concept Fund, will be used to help the company grow. Hexislab will focus on producing skincare solutions from natural products and the development of new skincare products for different skin types and ethnicities.
Dr Olusola Idowu, Founder of Hexislab said: “Our product pipeline has been the result of years of R&D in collaboration with Newcastle University. Our compounds have been carefully selected through in-silico (computer generated) lead identification processes, which are then validated in relevant experiments conducted on living skin cells.
“We’re now looking to develop products for a range of clients in the high-end consumer market, including skincare clinics, spas, dermatology clinics and cosmetic companies.”
To validate its capability, the Newcastle-based company has successfully secured a contract with a leading spa hotel that has created its own branded skin-care products.
Rebecca Roberts, Investment Manager at Northstar Ventures said: “Hexislab is a unique business and one we are excited to be working with. The extensive amount of R&D has led to innovative evaluations, giving Hexislab’s clients a significant competitive advantage. Partnerships with organisations such as Newcastle University will provide the company with the opportunity to develop its database further and expand the product portfolio.”
Professor Mark Birch-Machin, Associate Dean of Business Development at Newcastle University and
Consultant for Hexislab said: “The consultancy relationship between Newcastle University and Hexislab is a great opportunity to explore agile and technological developments, which enables Hexislab to efficiently meet client demand and fill a gap in the market.”
Dr Olusola Idowu added: “Through our innovative approach to discovery, Hexislab is able to build a database of potentially effective compounds suitable for a wide range of skin types. This will allow clients to develop products for a variety of consumer markets.”