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London, United Kingdom, May 15, 2013 – geneOnyx™, a provider of over-the-counter cloud-based genetic analytics services for cosmetics and skincare applications, today announces that it has received leading global analyst firm Frost & Sullivan’s 2013 European New Product Innovation Award in Personalized Cosmeceuticals. The prestigious award was formally made at Frost & Sullivan’s 2013 European Growth, Innovation & Leadership Awards Banquet held in London on 14 May.
The innovation of geneOnyx’s world-first over-the-counter DNA anti-ageing test in a retail setting—successfully trialled at Imperial College London in 2012, ahead of a major global commercial launch later this year—was recognised by Frost & Sullivan’s global research organisation of 1,800 analysts and consultants monitoring 300 industries and 250,000 companies.
The annual Frost & Sullivan awards spotlight “best-in-class” companies based on excellence in managing growth, innovation and leadership. The New Product Innovation Award is awarded for demonstrating excellence in the following categories: innovation, leverage of leading-edge technologies, value-added features and benefits, increased customer ROI, and customer acquisition or penetration.
Vin Nee Lim, industry analyst for Frost & Sullivan, commented: “The major factor driving growth in the skincare market is the high demand for anti-ageing products. Frost & Sullivan recognises the innovation and commercial significance of geneOnyx’s solution — the first on-the-spot DNA end-to-end service available in a retail setting. In view of the potential of emerging molecular biology techniques and the increasing demand for preventive anti-ageing solutions, we expect that geneOnyx's product will have a significant impact on the cosmetic industry, enabling a fully end-to-end customer service.”
Commenting on the award, Dr. Martin Stow, Chief Operating Officer for geneOnyx, said: “We are delighted that Frost & Sullivan has honoured geneOnyx’s accomplishments in the successful development of the world’s first on-the-spot DNA skincare test. Frost & Sullivan rightly recognises that genetic profiling and advanced analysis of the biochemical mechanisms of skin ageing is leading to the development of revolutionary new diagnostic tools that can provide specific prevention and treatment strategies to consumers. With this award, we are extremely pleased to be acknowledged by Frost & Sullivan as pioneers in the high-growth area of personalised cosmeceuticals.”
The on-the-spot service works using a simple saliva sample test, which delivers extracted DNA to a computer microchip that simultaneously amplifies and detects genetic signatures in the DNA. The DNA computer microchip is plugged into a cloud-connected gateway device linked to CosMos™, geneOnyx’s cloud-based analysis engine. The genetic test results are analysed to provide a personalised shortlist of specific geneOnyx skincare serums most appropriate and effective to the individual. Results are ready within 30 minutes. CosMos includes a comprehensive library, a unique mapping database based on geneOnyx’s extensive research into cosmetic product active ingredients, our genes and how these compounds are metabolised. Following the results, the DNA/computer microchip is then immediately and securely disposed of, ensuring that no genetic information is retained or stored.
While most genetic tests available today require the sending of saliva or other biological tissue to a laboratory for testing, the geneOnyx™ system harnesses state-of-the-art over-the-counter DNA detection technology developed by world-leading medical technology pioneer Professor Chris Toumazou FRS, FREng, FMedSci, CEO and founder of DNA Electronics. Leveraging DNA Electronics’ Genalysis® technology, geneOnyx is now delivering the world’s first commercial application of a lab-free DNA test, bringing on-site, over-the-counter genetic analytics to the consumer cosmetic industry for the first time.
Lim commented: “Imperial College Scholar, Professor Winston Wen-Young Wong DIC, Ph.D., DSc and Senior Scientific advisor to geneOnyx has identified the significant value of using proven DNA sequencing technology to bring scientific authority to the cosmetic industry.”
About Frost & Sullivan:
Frost & Sullivan, the Growth Partnership Company, enables clients to accelerate growth and achieve best-in-class positions in growth, innovation and leadership. The company’s Growth Partnership Service provides the CEO and the CEO’s Growth Team with disciplined research and best-practice models to drive the generation, evaluation, and implementation of powerful growth strategies. Frost & Sullivan leverages 50 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from more than 40 offices on six continents. To join our Growth Partnership, please visit http://www.awards.frost.com.
geneOnyx™ has created a unique propriety over-the-counter, cloud-based genetic analysis technology, providing tailored recommendations related to skincare ingredients, associated genes and customised skincare products.
This unique end-to-end service allows an individual to select the optimal cosmetic products based on the individual’s genetic variations (called SNPs).
This revolutionary technology has been applied to a range of personalised skincare serums, which will be available later this year at the geneOnyx™ London flagship store, providing the ultimate anti-ageing skincare solution.
This is a revolutionary approach to marketing cosmetics that significantly removes the guesswork involved when selecting the best individual skincare solution.
For more information: www.geneonyx.com
PRESS CONTACT for geneOnyx media enquiries:
Tel: +44 (0)844 870 8025
Mobile: +44 (0)7747 017654
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