Since 1985, InVitro International ($IVRO) has been a worldwide pioneer in the development and application of non-animal testing methods for irritation and skin toxicity. InVitro is known for its outsourced standard testing services: the Irritection® Assay System and the Corrositex® Test. In addition, the company provides tailored technology services through its extensive InVitro test results database that includes information of great importance from now to decades ago.
Why the Irritection® Assay System is a game changer
The Irritection® Assay System is a standardized, quantitative InVitro test method used to detect, classify, and predict the irritation potential of cosmetics, consumer products, pharmaceuticals and chemical raw materials. In particular, the system offers a good alternative to traditional animal testing for eye and skin irritation.
Research has shown that the results of the Irritection® Assay can be correlated up to 90%, obtained from GHS-testing and standard Draize tests. The Irritection® Assay System consists of an ocular test Ocular Irritection® (OI) and a skin test, Irritection® Dermal (ID).
The OI Assay System is an InVitro test method that mimics biochemical phenomena. It’s fascinating to note that the OI is the only 100% animal-free eye irritation test with an OECD approval. In this way it offers scientific credibility and legal support of the highest level. It is currently applicable in 36 countries, including the United States.
ID is a traditional technology that has been applied for over 30 years, yielding GHS accepted results for the OI. The ID is part of an InVitro test that mimics biochemical phenomena of chemicals that cause: skin irritation, changes in the structure of keratin, collagen and other dermal proteins.
A significant replacement named Corrositex®
At the end of 2014, Corrositex® was accepted as a complete replacement for animal testing results in virtually the entire world. The test completely replaces the rabbit dermal corrosivity test by providing an alternative way that mimics the test. The patented core technology of the Corrositex® test is based on a biomembrane and chemical detection system. It has now been accepted and approved by important parties such as: the Organization for Economic Co-operation and Development (OECD), European Center for the Validation of Alternative Methods (ECVAM), Food and Drug Authorization (FDA) and the International Air Transport Authority (IATA).
A closer look at the financial spectrum
From a financial point of view, the Irritection® Assay System is interesting because it is significantly cheaper than vivo tests. New products enter the market on average 1 to 3 months faster at a relatively much lower cost, which is accompanied by a possibly distinct marketing profile. A time period of 24 to 48 hours is adhered to for the residual results.
InVitro sells its products and services to independent distributors, laboratories, and end users of 10 different industries in the US, Europe, Latin America and Asia. Non-US revenues were approximately 22% of total revenue in fiscal 2019. InVitro’s two largest customers generated around 23% of total revenue during fiscal year 2019.
The InVitro cash flow statement for 2019 shows significantly better figures than the previous year. This is based on revenue (+24.39%), net income (+25.29%), net cash flow from operating activities (+124.74%), cash and cash equivalents at the end of the year (+18.16%). The current market value stands at $1.71 million (October 16, 2020).
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