has participated in a 35-million-euro funding round for French biotech company Abolis Biotechnologies in the quest to create purpose-made, sustainable ingredients produced at scale.was made through Business Opportunities for L’Oréal Development, or BOLD, the group’s venture capital fund. The deal is part of a three-way partnership.
“We’re going to embrace all the key elements of the value chain to bring science and biotechnology to life,” continued Frédéric Legrand, who heads up the international innovative ingredients department advanced research, L’Oréal R&I, in an interview. “Each of the partners will come with its own expertise to make this happen with a common ambition.”
To wit: L’Oréal has launched the L’Oréal Green Sciences Incubator for start-ups, partnered with Dutch biotech concern Micreos and invested in companies such as Microphyt and Debut Bio, among many others. “Our ambition as a tripartite is really to be as broad as possible in terms of application,” said Legrand. That includes biological actives for skin, scalp or hair care, for instance.