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- Angusti lupin oil proven to be non-irritating.
- Results complement earlier independent testing showing Angusti delivers significant skin hydration benefits.
- Combined safety and performance data positions Angusti for the global cosmetic oils market.
- Trial sales secured and several prospective customers currently evaluating samples.
Wide Open Agriculture (ASX:WOA) is testing a forecast US$100 billion market after its trademarked Angusti lupin oil product’s oil’s safety and skin hydration performance was confirmed, clearing an important commercialisation milestone.
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The independent test results removed key barriers to cosmetic formulators before committing to a new cosmetic ingredient. With validation complete, the company said it now aims to progress lupin oil into an additional revenue stream alongside lupin protein isolate in line with its whole of seed strategy.
The company recently partnered with the Korean Institute of Dermatological Sciences to conduct a Human Repeat Insult Patch Test (HRIPT), widely regarded as the most rigorous and credible test available for assessing whether a cosmetic ingredient causes irritation or sensitisation.
CEO, Craig Swan, said the findings were highly encouraging. Angusti lupin oil was non-irritating across every participant, showed no evidence of allergic contact dermatitis and is suitable for use in hypoallergenic formulations.
Mr Swan said for the formulators and brand owners WOA is targeting, this gives them confidence to design premium, clean-label products around the oil, knowing it has been validated against a recognised industry standard.
“Independent testing of our Angusti Lupin Oil confirms skin safety to our potential customers, and it’s backed by hydration performance data that shows our product demonstrates measurable skin hydration performance,” he said.
“It confirms that lupin oil can compete as a premium cosmetic ingredient validated against recognised industry standards, and it lets formulators move from interest to development.
“It’s “another important milestones towards achieving WOA’s whole-of-seed strategy where by capturing value from lupin oil as well as protein, we plan to build additional revenue per tonne of seed processed and a more diversified product offering to potential customers.”
The study ran over three weeks across 55 participants. To reflect how the oil would be used in real products such as creams and body butters, it was formulated at 20% concentration into jojoba oil, a plant derived oil commonly used as a base carrier in skincare formulations.
WOA is steady at 0.9¢. Mkt cap $5.890M.
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