US firm sitting pretty with BeautyLabs swoop
AI technology from Cambridge is set to revolutionise global health and beauty markets through a proposed acquisition by a NASDAQ-quoted Californian company.
Amyris Inc, a leading synthetic biotechnology company active in those markets through its consumer brands and a top supplier of sustainable and natural ingredients, has agreed to buy BeautyLabs International based at St John’s Innovation Park.
BeautyLabs was founded and steered by Mark Gerhard, the entrepreneur behind video games company Jagex and PlayFusion, a specialist in enhanced reality entertainment technology.
BeautyLabs is a leader in AI technology that provides breakthrough connected consumer experiences to the beauty and wellness communities. Amyris is accelerating its growth and market leadership in clean beauty by adding digital innovation to further enhance the consumer experience of its family of consumer brands.
These comprise Biossance®, Pipette®, Rose Inc., JVN, Terasana, and Costa Brazil. These Amyris brands will utilise BeautyLabs’ leading edge AI technology to create compelling, personalised, connected consumer experiences and further accelerate the growth of Amyris’s ecommerce revenue.
Mark Gerhard said: “Our BeautyLabs team is excited to become part of Amyris and to help pioneer the next generation of digital consumer experiences. A connected consumer is the future of the beauty and wellness industry and we are proud to be joining Amyris to bring a new level of sophistication to the consumer experience.”
John Melo, President and CEO of Amyris, was full of praise for the Cambridge business and the opportunity it would open up. He said: “Mark has built an incredible team and brings a distinctive mindset and capability to accelerate our revenue growth through deeper connections with our consumers.
“We are building and growing leading clean beauty brands and are committed to an omnichannel strategy of which the digital experience is critical.
“We partner with some of the world’s leading retailers and we want the consumer to enjoy their beauty experience where they want it and need it. With a cash balance of $250 million, the strongest ingredients development pipeline in our history, significant acceleration of our revenue growth and continued progress with our remaining strategic transaction we continue a track record of industry-leading execution.”
The parties expect to sign a definitive agreement and close over the next 30 days subject to the successful completion of due diligence and customary closing conditions.
BeautyLabs, with bases in both the UK and US, is an independent, employee-owned technology company. Amyris is a science and technology leader in the research, development and production of sustainable ingredients for the Clean Health & Beauty and Flavors & Fragrances markets.
It uses an impressive array of exclusive technologies, including state-of-the-art machine learning, robotics and artificial intelligence. Its ingredients are included in over 3,000 products from the world’s top brands, reaching more than 200 million consumers.
Image courtesy – BeautyLabs