Cosmetic ingredients maker Symrise has invested in Synergio, a Jerusalem-based biotech company.
Symrise will acquire a minority ownership in Synergio with the possibility to acquire a majority stake in Synergio’s share capital in the future.
Founded in 2009, Synergio specialises in natural antimicrobial combinations obtained through sustainable sourcing.
It claims to use a data-driven, biochemistry-based, computational platform to leverage a deep understanding of plant bio-actives and synergies.
Symrise said it aims for the two companies to work together as partners to develop innovative antimicrobial solutions that respond to the market request for more natural solutions.
“Entering a partnership with Symrise provided a unique opportunity to further develop our biotechnologies for the beauty market,” said Dr Rachel Lutz, CEO of Synergio.
“Our shared values in sustainability allow us to bring consumers natural and safe innovative beauty solutions.
“Together, we will use new and advanced technology to create sustainable products that will respond to the needs of customers and global stakeholders while meeting regulatory requirements.”
The beauty of biotech
Symrise is the latest in a long line of beauty companies to tap into the expertise of an up-and-coming biotech firm.
In November, L’Oréal invested in French biotech firm and microalgae manufacturer Microphyt, while cosmetic active ingredients specialist Mibelle Biochemistry completed an asset deal with Mirexus Biotechnologies to integrate Mirexus’ branded products into its portfolio.
And last summer, chemicals giant BASF invested in Sea6 Energy’s Series B round.
Sea6 Energy specialises in red seaweed cultivation through biotechnology, with BASF said to be enthusiastic about the opportunities for the chemicals industry to move towards renewable feedstocks.
Indeed, analyst firm Mintel, in its trends round-up at the close of last year, confirmed such ‘synthetic natural’ ingredients as a movement to watch throughout 2023.
“Businesses must learn to use syn-bio to develop new products and processes, improve existing ones and reduce costs to remain competitive in the future,” said Andrew McDougall, Director of Beauty and Personal Care Research at Mintel, at the time.
The terms of the Symrise-Synergio acquisition are confidential.