TOKYO — Shiseido said it has acquired an innovative “second skin” technology from Olivo Laboratories. The patented approach creates a breathable, flexible and essentially invisible layer of artificial skin, with numerous possible applications in the beauty field.
Olivo is a start-up backed by Polaris Partners and based in Cambridge, Mass. While Shiseido has acquired “substantially all of the assets” of the company, it did not acquire the company itself. Terms of the transaction have not been disclosed.
Olivo’s formulation can be used for under-eye bags, the company told WWD in May. At that point, chief executive officer Amy Schulman said the company was deciding if it would license the technology or develop it internally.
The pioneering XPL second-skin technology offers “a number of benefits previously unachievable through traditional cosmetics or even cosmetic surgery,” Shiseido said in a release. Olivo was founded by renowned scientists including Dr. Robert Langer, institute professor at the Massachusetts Institute of Technology, Dr. Rox Anderson of Massachusetts General Hospital, and Dr. Dan Anderson, also of MIT. As a part of the transaction, the Olivo research and development team will join Shiseido Americas.
The acquisition is the latest in a series of initiatives undertaken by Shiseido in order to expand its global beauty innovation footprint. The company also recently acquired the personalization technology start-up MatchCo and the beauty company Giaran, which uses artificial intelligence to power its virtual makeup technology. Last month, Shiseido announced it had developed an IoT skincare system called Optune, which will begin beta trials in the spring.
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Shiseido said the transaction “marks a significant leap forward in the emerging realm of ‘skin shape correction,’ and paves the way for the development of products that provide instant and significantly enhanced skin care and sun care.”
“Our transaction with Olivo is an exciting next step in our ongoing pursuit to create entirely new categories of beauty products at a global scale as a part of our Vision 2020, middle- to long-term strategy,” Masahiko Uotani, president and chief executive officer of Shiseido, stated. “Olivo’s ground-breaking ‘second skin’ technology will join Shiseido’s already robust innovation portfolio. We look forward to welcoming our new colleagues at Olivo and benefiting from the expertise of Dr. Langer as we continue to reinvent the beauty industry and to create new products tailored to each of our customers’ unique and personal ideals of beauty.”
“We are delighted to work with Shiseido, a company that has the vision, resources and talent to be pioneers in beauty science and to create a new standard for skincare in the beauty industry,” Schulman said.