Croda International has announced a three-year collaboration with biotechnology company Aquapharm Biodiscovery. Under the agreement, Aquapharm will screen its library of marine microbes for the discovery of new cosmetic ingredients, giving Croda exclusive licence to novel marine-derived natural products identified through the collaboration for use in skin and hair care.
In return, Aquapharm will receive funding from Croda to conduct this research, together with milestone payments and royalties on commercialisation of any resulting products.
“The collaboration with Aquapharm is a key part of our strategy in developing novel sustainable solutions for the personal care industry,” said Keith Layden, president of Croda Enterprise Technology. “We are delighted to be working with the team at Aquapharm and anticipate the relationship will generate significant value for both companies.”