Symrise invests in biotech with latest acquisition

16-May-2019 - Last updated on 16-May-2019 at 08:41 GMT

The global supplier of fragrances and ingredients, including cosmetic active ingredients and raw materials, has signed a contract to acquire Cutech.

Cutech is an Italian biotech player based in Padua, Italy, which offers pre-clinical screening services for cosmetic ingredients and finished formulations.

Symrise says the purchase will expand the expertise of Symrise in the efficacy testing of cosmetic ingredients and open new opportunities for collaboration with partners from scientific institutions.

It will also increase the go-to-market speed for novel active ingredients.

“Cutech constitutes the perfect fit for Symrise’s Cosmetic Ingredients Division. The highly specific R&D and biotechnology capabilities of Cutech optimally complement the research expertise of Symrise”, says Dr. Gerhard Schmaus, Head of Global Innovation Cosmetic Ingredients Division at Symrise.

Spotlight: Cutech

Cutech was founded in 2002 to specialise in pre-clinical testing services, which are based on its proporietry ex vivo skin, sebaceious gland and hair models.

Cutech will also contribute IP on natural ingredients, such as micro algae, to supplement the Symrise portfolio, the companies say.

“The joining forces of Symrise and Cutech will make the development of new proprietary analysis and prediction models for cosmetic ingredients easier and faster. Such models will strengthen the leadership of Symrise Cosmetics Ingredients and will position it one step ahead of the competition,” says Eder Ramos, President Cosmetic Ingredient Division.

“For our customers, adding pre-clinical testing to our service portfolio will definitely constitute a plus during their product development. In addition it will also enable us to further expand our biotech network, thus accessing new, cutting-edge technologies.”

Cutech reckons the acquisition will be a win-win move. “Cutech will benefit from the broad research base at Symrise and its technological resources. This will lead to a faster development of effective cosmetic ingredients. We look forward with excitement to our joint projects,” says Dr. Paolo Pertile, CEO at Cutech.