Evolva Holding SA (SIX: EVE) announced that 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 optimise yeast strains for the sustainable, cost-effective production of this strategically important cosmetics ingredient.
The 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.
Leveraging its proprietary yeast and fermentation platform, Evolva can produce high-value ingredients that would otherwise be highly problematic or inaccessible to industry due to cost, functionality, supply chain, or sustainability issues. Luc Aguilar, Global Head of L’Oréal’s Biotechnologies Department, said “Evolva’s biotech platform on yeast design, optimisation and fermentation could end in new cosmetic ingredients bringing a real breakthrough for our customers”.
“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,” Evolva CEO Neil Goldsmith said. “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, ” he added.