SKINCARE products business Evocutis is considering a sale or merger to accelerate its growth.
The business, which tests skincare products at its laboratory in Wetherby, said it was evaluating a number of options which would enable it to benefit from a collaboration with a major strategic partner.
The business was launched last year after Syntopix, a Bradford-based company that develops antimicrobial skin products for the cosmetics industry, bought Leeds Skin Centre For Applied Research, which has developed LabSkin, a living skin that can be used for testing products.
The business has increased revenues from £227,000 in 2011 to £457,000 in the year ended July 31.
Dr Gwyn Humphreys, interim chief executive officer, said: “These results show that the integration of Syntopix and Leeds Skin into Evocutis has led to significant growth in collaborations with major multi-national companies.
“Evocutis aims to increase these relationships over the next twelve months, and to increase the availability of LabSkin for those companies who wish to carry out research in-house.”