TMCnet News
Evolva Announces Collaboration with L'OréalREINACH, Switzerland --(Business Wire)-- 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. 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. L'Oréal is widely recognised as a global leader and innovator in cosmetics. Evolva is the global leader building the next blockbuster category in high-value wellness, health and nutrition ingredients. 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". "his 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". About Evolva Evolva is a pioneer and global leader in sustainable, fermentation-based approaches to ingredients for health, wellness and nutrition. Evolva's products include stevia, vanilla, saffron and resveratrol. As well as developing its own proprietary ingredients, Evolva also deploys its technology for partners, providing them with a competitive edge and sharing in the returns they make. For more information see www.evolva.com. About L'Oréal L'Oréal, the world's leading beauty company, has devoted itself to all forms of beauty in the world for over 100 years and has built a unique portfolio of 28 international, diverse and complementary brands. With sales amounting to 22.5 billion euros in 2012, L'Oréal employs 72,600 people worldwide. In 2013, the Ethisphere Institute, a leading international think-tank for business ethics, corporate social responsibility and sustainability, recognized L'Oréal as one of the World's Most Ethical Companies. This is the fourth time that L'Oréal has received this distinction. www.loreal.com This press release contains specific forward-looking statements, e.g. statements including terms like believe, assume, expect or similar expressions. Such forward-looking statements are subject to known and unknown risks, uncertainties and other factors which may result in a substantial divergence between the actual results, financial situation, development or performance of the company and those explicitly or implicitly presumed in these statements. Against the background of these uncertainties readers should not place undue reliance on forward-looking statements. The company assumes no responsibility to update forward-looking statements or to adapt them to future events or developments.
|
