Procter & Gamble has entered into an ‘exploratory relationship’ with New Zealand-based Honeylab, according to a report published in Stuff.

Honeylab’s signature product line is Honevo, which is based on medical-grade kanuka honey and includes various medical and cosmetics formulations to treat conditions such as acne and rosacea as well as cold sores and nappy rash.

“We have a pipeline of products that are scientifically proven to work and P&G want to work with us and develop them further,” Co-founder of Honeylab Shaun Holt told Stuff. “Eight years ago we set out to potentially license our products and everyone was telling us to build a brand like Comvita but we put every dollar into R&D to build an IP, which will potentially be a bigger business for us.”