18 November 2015 – Evolva (SIX: EVE) reaches the second milestone in its R&D collaboration with the French cosmetics company L’Oréal to develop next-generation, sustainably produced ingredients for cosmetics and other markets. Evolva focuses on the development of functional ingredients that cannot sustainably or ethically be sourced from nature for mass-market commercial applications.
The companies will now enter into discussions on how best to proceed to the next phase of product development for these ingredients.
This collaboration has focused on a family of structurally related ingredients. Up to this point, the focus of this collaboration has been pathway creation, strain improvement and application testing. L’Oréal has exclusivity within cosmetics, whilst Evolva retains rights to other markets.
The milestone payment does not change Evolva’s revenue guidance for 2015.
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Evolva is a pioneer and global leader in sustainable, fermentation-based approaches to ingredients for health, wellness and nutrition. Evolva’s products include stevia, resveratrol, vanillin, nootkatone, valencene and saffron. 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. Questions about our fermentation approach? Have a look at our video.
L’Oréal has devoted itself to beauty for over 105 years. With its unique portfolio of 32 international, diverse and complementary brands, the Group generated sales amounting to 22.5 billion euros in 2014 and employs 78,600 people worldwide.
As the world’s leading beauty company, L’Oréal is present across all distribution networks: mass market, department stores, pharmacies and drugstores, hair salons, travel retail and branded retail.
Research and innovation, and a dedicated research team of 3,700 people, are at the core of L’Oréal’s strategy, working to meet beauty aspirations all over the world and attract one billion new consumers in the years to come. L’Oréal’s new sustainability commitment for 2020 “Sharing Beauty With All” sets out ambitious sustainable development objectives across the Group’s value chain. www.loreal.com
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