Evolva Reaches Second Milestone in L’Oréal Collaboration
23 Nov 2015 --- Evolva has reached 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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