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L'Oréal and Evolva to Collaborate on Beauty Ingredients
Posted: February 11, 2014
Evolva Holding announced it has signed a collaboration agreement with L’Oréal for the co-development of novel biosynthetic production routes for an undisclosed ingredient with broad applications in the cosmetics industry. Evolva and L’Oréal will apply Evolva’s fermentation technology platform to develop and optimize yeast strains for the sustainable, cost-effective production of this strategically important cosmetics ingredient.
This collaboration will begin immediately and conclude in late 2016, and includes an option to expand the ingredient focus. L’Oréal will pay Evolva research fees during the project period. Additionally, Evolva is eligible to receive milestone payments based on achieving research objectives.
Luc Aguilar, global head of L’Oréal’s biotechnologies department, said, “Evolva’s biotech platform on yeast design, optimization and fermentation could end in new cosmetic ingredients bringing a real breakthrough for our customers.”
And Evolva CEO Neil Goldsmith said, “This collaboration further validates the broad industry applications potential of our technology platform and industry awareness of Evolva’s unique value proposition in health, wellness, and nutrition ingredient development. We look forward to working with L’Oréal. We are confident that together we can leverage new and sustainable production routes to improve this ingredient’s sustainability profile, reduce its production costs, improve its supply chain predictability, and increase its formulation flexibility in cosmetics.”