L’Oreal and Galderma have signed a scientific partnership to develop advanced, future-proof technologies with direct applications in the field of dermatology.

The collaboration will enable the two companies to jointly develop new products using complementary technology, which will expand and enhance their respective portfolios.

The partnership will leverage Galderma’s broad range of dermatological solutions and L’Oreal’s expertise in skin biology, diagnostic tools and evaluation methods, the companies said.

Nicolas Hieronimus, CEO of L’Oreal, said the partnership marks an ambitious step, allowing the company to explore partnering in the fast-growing aesthetics market.

In addition, L’Oreal has acquired a 10 per cent stake in Galderma from Sunshine SwissCo, Abu Dhabi Investment Authority, and Auba Investment for an undisclosed sum. The transaction, which L’Oreal describes as a “strategic investment”, will bring no changes to the Galderma’s board of directors.

“We are delighted to welcome L’Oreal as a new, long-term Galderma shareholder and see their investment as a sign of confidence in our strategy, track record and growth potential,” commented Flemming Ornskov, CEO of Galderma.