THE WHAT? L’Oréal and Walgreens have backed a US$27.5 million funding round for Chinese biotechnology company Shenzhen Boyin Biotechnology, supporting the development of AI-driven biomaterials for cosmetics, healthcare and nutrition applications.
THE DETAILS Shenzhen Boyin Biotechnology, the company behind biomaterials platform PAM2L, secured Series A and A+ financing co-led by L’Oréal’s BOLD investment fund, a Walgreens–Guangzhou Pharmaceutical investment fund and Guangxin Fund. Founded in 2021, the company combines synthetic biology and artificial intelligence to develop advanced biomaterials, including recombinant mussel adhesive protein and Colamin. The funding will support research and development, production capacity expansion and international commercialisation. PAM2L previously participated in L’Oréal’s 2024 BIG BANG beauty technology programme, with the investment strengthening an existing research partnership focused on translating biotechnology innovations into commercial applications.
THE WHY? The investment highlights growing interest among global cosmetics manufacturers in AI-driven biotechnology and next-generation biomaterials as sources of formulation innovation and competitive differentiation. For L’Oréal, the partnership strengthens access to China’s biotechnology ecosystem while supporting the development of new ingredients and manufacturing technologies that could be scaled across international cosmetics markets.
Source: dealroom.co
