The Flash Cosmetics Pitch competition took place at the recent in-cosmetics Global industry event, and saw a judging panel consider entrants from up-and-coming beauty innovators with
Johnson & Johnson Innovation, a leading consumer goods multinational in health care and personal care, selected biotech player Nuritas as competition winner.
The company has developed technology that can extract peptides from natural plant sources, based on artificial technology and DNA analysis, which impressed the Johnson & Johnson Innovation team.
Nuritas: peptides to order
Following the win, Neil Foster (pictured), head of strategic partnership for Nuritas, explained the company's capabilities and the potential it has to offer a major player like Johnson & Johnson.
"We're a digital biotech business, we're using artificial intelligence and DNA analysis to make life-changing discoveries in the form of bioactive peptides," he said.
"What we're able to do is discover peptides on demand - so for example, a big consumer business like Johnson & Johnson can come to us, they know what consumers want, what the trends are and what the trends are going to be, and we can discover them a unique, natural peptide with patent protection, just for them."
The company was presented its award at the in-cosmetics Global ceremony by Caroline Neville (pictured, far left), President of CEW (Cosmetic Executive Women).
Competition in focus
Johnson & Johnson Innovation considered contenders across six core categories:
• Anti-ageing
• Devices
• Digital beauty
• Microbiome
• Naturals
• Personalisation
“What we’re not looking for is 27 new lipstick shades,” Emma Kohring of Johnson & Johnson Innovation, previously told CosmeticsDesign of the competition. “We want to find new science new technology things that are game changing really novel innovation and this is a great way for us to network into that eco-system as a company that is one of the largest and most diversified healthcare companies in the world.”
Kohring explained that the idea for the Flash Cosmetics Pitch was inspired by the success her team has had with similar pitching events in other categories, pharmaceuticals and biotech areas, and suggested the company is set to run similar events for beauty in the future.
“It’s such a great way of identifying and accessing great new technology and startups, and helping to partner and nurture those young companies with the experience and support that a company like Johnson & Johnson Innovation can offer them.”