The skin is created from a matrix made up of fibrin, a protein found in healing wounds.
To this is added human fibroblasts - cells used by the body to synthesise new tissue.
In a process that effectively replicates the way the body makes new skin, the cells produce and release another protein, collagen, which makes the matrix more stable.
It is in this form that the "skin" is implanted into a wound.
The researchers say that because the matrix is in a stable form, it is more able to withstand changes that take place during the healing process.
The fact that the collagen is synthesised directly by the cells themselves also more closely mirrors the natural healing process.
Quick healing
In tests researchers cut an oval section of skin from the arms of six healthy volunteers and replaced it with their lab-grown skin.
After 28 days the artificial skin had remained stable and the wounds had healed with relatively little scarring.
Dr Paul Kemp, Intercytex's chief scientist, said: "I was very surprised at how quickly the wounds healed.
Fibroblast cells play a key role
"If this continues in larger trials then it could revolutionise the way in which wounds and burns are treated in the future."
Dr Kemp has been working with Ken Dunn, a consultant surgeon at the burns unit at Wythenshawe Hospital in Manchester.
Mr Dunn said: "This particular product behaves like the patients' own skin.
"It seems to excite much less reaction than the other materials we are using at the moment.
"If this is borne out in larger clinical trials then we would be very interested in using it with our patient group."
Others, however, have warned it is easy to heal a small, surgically-created wound in healthy volunteers, and that the true test will come when the technique is tried on real patients with real burns.
Dr Phil Stephens, an expert in cell biology at Cardiff University, said: "Future studies are needed to establish whether this system is substantially better then those already on the market.
"But this skin replacement system has the potential to dramatically reduce scarring and help heal chronic wounds in aged patients to give them a better quality of life."