TAGS: Natural/ Organic
Sharon Laboratories has signed a Memorandum of Understanding (MoU) with DEINOVE. The companies entered an exclusive partnership for the development and marketing of a range of new bio-based solutions, including bioactives, arising from DEINOVE’s platform.
Entering Field of Bio-based Actives
The collaborative R&D program will benefit from DEINOVE's accumulated expertise in leveraging the properties of its collection of rare microorganisms. It will expand the potential of DEINOVE's biotechnology platform to a substantial and promising market, building on Sharon Laboratories experience in the personal care preservation field.
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We are excited to enter this new field of bio-based actives, which we believe is the future of the cosmetic industry,” said Ari Melamud, CEO of Sharon Laboratories.
The global cosmetic market is seeking natural solutions to replace existing synthetic ingredients. As the natural cosmetics segment continues to grow, the demand for such ingredients will grow with it. The draft agreement grants an exclusivity in various ingredient and functions to Sharon Laboratories, keeping DEINOVE's free to develop additional collaborations.
Meeting Demand for Natural Ingredients
Sharon Laboratories is one of the world leaders in preservative solutions for personal care. Driven by the growing consumer and brand demand for naturally and sustainably sourced ingredients, the company has entrusted DEINOVE with joint development of a new range of bio-based and differentiated solutions.
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We are glad to provide Sharon Laboratories with our breakthrough technology and strong scientific know-how while benefiting from their market knowledge and extensive distribution network,” said Charles Woler, CEO of DEINOVE.
DEINOVE and Sharon Laboratories have signed an MoU for an agreement to be finalized by the end of the first quarter of 2020. This decisive agreement has an initial term of 3 years and provides for the regular payment of significant milestones, amounting to several millions of dollars, as well as royalties on sales once commercialized. Sharon Laboratories demonstrates its commitment with the immediate USD 200k payment.
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The global cosmetic market is seeking natural solutions, this collaboration will lead us to the next generation of ingredients which are not only safe and sustainable, but promote health and wellbeing,” said Melamud.
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This complementary collaboration has everything it takes to offer tomorrow’s cosmetic market needs,” said Woler.
Sharon Laboratories' Product Portfolio
Source: Sharon Laboratories