COPY: Based in Padua, Italy, the biotechnology company, Cutech has signed an acquisition contract to join forces with Symrise. Cutech offers unique pre-clinical screening services for cosmetics ingredients and finished formulations.
This purchase by Symrise will expand its expertise in the efficacy testing of cosmetics ingredients and it will open new opportunities for collaboration with partners from scientific institutions. It will also increase the speed to market of novel active ingredients.
‘Cutech constitutes the perfect fit for Symrise’s cosmetics ingredients division. The highly specific R&D and biotechnology capabilities of Cutech complement the research expertise of Symrise,’ says Dr Gerhard Schmaus, head of global innovation, cosmetic ingredients division at Symrise.
Synergies and strengths
Dr Paolo Pertile, CEO at Cutech, comments: ‘We have decided to join forces with Symrise as both partners can benefit from the union. Symrise acquires considerable know-how in the prediction of the effectiveness of cosmetics ingredients, while Cutech will benefit from the broad research base at Symrise along with its technological resources. This will lead to a faster development of effective cosmetics ingredients. We look forward with excitement to our joint projects.’
Cutech, founded in 2002, specialises in unique pre-clinical screening services based on innovative proprietary ex vivo skin, sebaceous gland and hair models. It also contributes IP on natural ingredients, such as micro algae, to supplement the Symrise portfolio.
‘The joint forces of Symrise and Cutech will make the development of new proprietary analysis and prediction models for cosmetics ingredients easier and faster. Such models will strengthen the leadership of Symrise cosmetics ingredients and will position it a step ahead of the competition,’ says Eder Ramos, president of Symrise cosmetics ingredient division.
Adding pre-clinical testing to Symrise’s portfolio of offerings will constitute a plus towards customers’ product development. It will also enable Symrise to further expand its biotech network, accessing new, cutting-edge technologies.
Deloitte Financial Advisory is acting as financial advisor to Symrise. Clifford Chance is acting as legal advisor to Symrise. Pirola Pennuto Zei & Associati is acting as legal advisor to Cutech.