(Reuters) – L’Oreal has joined Abolis Biotechnologies’s 35 million euro ($38.6 million) funding round alongside speciality chemicals group Evonik, as part of a deal to develop bio-based ingredients for beauty products, the French cosmetics group said on Thursday.
Located in the Genopole – a biotechnology research hub in Evry, south of Paris – Abolis is a French start-up specialised in the use of micro-organisms. Since its funding in 2014, it has raised 1.1 million euros.
($1 = 0.9079 euros)
(Reporting by Stéphanie Hamel in Gdansk; editing by Milla Nissi)
