ZURICH Feb 10 Shares in Evolva jumped
more than 8 percent on Monday after the Swiss ingredients maker
said it had signed a research collaboration agreement with
French cosmetics maker L'O'real.
Evolva said it was teaming up with L'Oreal to use its
fermentation technology to develop yeast strains that can be
used in an undisclosed cosmetic ingredient.
The company said the collaboration would start immediately
and last until late 2016 and included an option to expand into
Evolva gave no financial details about the collaboration,
but said it would receive research fees from L'Oreal and would
also be eligible for milestone payments if it achieves certain
"These type of deals underline Evolva's offering in the area
of novel micro-organism based manufacturing outside the drug
industry," said Vontobel analyst Andrew Weiss, who has a "buy"
rating on the stock. "Evolva is gaining a strong foothold in the
area of cosmetics by tying up with L'Oreal."
Shares in Evolva were trading up 8.2 percent at 1.45 Swiss
francs per share by 0815 GMT, having earlier hit 1.47 francs.
(Reporting by Caroline Copley; Editing by David Holmes)