Solazyme Inc. (NASDAQ:SZYM), a renewable oil and bioproducts company, said it has inked a distribution deal with British-based beauty retailer Space NK to expand the sales network of the company’s skincare line, Algenist.
The skincare brand, which features the anti-aging ingredient, alguronic acid, will be available in all 60 Space NK stores and online starting this month. Solazyme said it would retail between £52 , or C$80, and £76, or C$117.59.
No financial terms or conditions were discussed in the statement.
The company said earlier this year alguronic acid entered the market as an active ingredient in anti-aging skincare products. Alguronic acid is a compound that protects and regenerates microalgae cells.
During clinical trials, alguronic acid showed significant results in many anti-aging parameters and beat a number of highly successful regenerative compounds including hyaluronic acid and retinol.
The company said four product offerings would be available in the United Kingdom, initially. Among them will be a serum to help reduce wrinkles, a moisturizer with a sun protection factor of 20 and an eye balm used to reduce signs of aging and fatigue around the eye.
Solazyme said Algenist in Space NK would bolster existing retailer offerings including Sephora International, Sephora in Canada and the United States, QVC and The Shopping Channel.
"The Algenist brand has galvanized the skin and personal care space by placing biotechnology at the forefront of cosmetic innovation," said Solazyme’s senior vice president, Frederic Stoeckel.
Space NK founder, Nicky Kinnaird, said "This innovative skincare line, showcasing breakthrough anti-aging ingredient alguronic acid, fits perfectly within Space NK's brand portfolio.”
Solazyme is a renewable oil and bioproducts company that transforms a range of low-cost plant-based sugars into high-value oils. The company is headquartered in South San Francisco.