L’Oreal inks pact with Evolva

Cosmetics major L’Oreal has entered into a deal with ingredients company Evolva Holding to develop biosynthetic production lines for an undisclosed ingredient.

L’Oreal, which confirmed this news to the media, has said that the ingredient, for which, they would co-develop biosynthetic production routes, is widely used in cosmetics.

It has even mentioned that the two companies would work closely on Evolva’s fermentation technology platform to develop and maximize yeast for sustainable production of the ingredient.

The company has also said that it would take at least two years in order to complete this project. Starting in 2014, it is most likely to conclude in 2016, as per the information provided by the company.

Evolva research would receive required fee for research and for co-working on its fermentation technology platform.

In addition to that, L’Oreal has reportedly agreed to pay milestone payments for reaching the research goals.

In a statement to Associated Press, L’Oreal global head, Luc Aguilar has said that their company believes that the new platform would be helpful in bringing real breakthrough for their customers.