The what? SkinBioTherapeutics has signed a commercial deal with chemicals giant Croda’s Sederma unit for its skin care product, according to a report by Proactive.
The details The first commercial deal for the life sciences group, the two will “design and manufacture new unique, sustainable, cosmetic ingredients, focusing specifically on the growing skincare actives market.”
While financial details of the deal were not disclosed, SkinBioTherapeutics is expected to receive ‘tiered royalties’ from sales of the products.
Dr Cath O’Neill, SkinBioTherapeutics’ Chief Scientific Officer, said, “This deal offers the potential for SkinBiotix to be incorporated into some of the world’s biggest cosmetics brands, which was always the vision that we had for the technology.”
SkinBioTherapeutics is said to be allowing Sederma access to its science, while it will be able to tap into Sederma’s large portfolio of cosmetic customers to use for other applications.
The why? The deal signifies the continued growth of the skin microbiome market, and the flow of capital companies are willing to invest.
Acknowledging SkinBioTherapeutics’ “solid platform”, Sederma Managing Director Arnaud Fournial said, “We believe the technology has the potential to become an essential and significant component of cosmetic products within the rapidly emerging skin microbiome market.”