Shiseido, a Japan-listed global cosmetics company, has acquired Olivo Laboratories, creator of US-patented artificial skin formation technology Second Skin, for an undisclosed amount, the Japanese company said.
In a disclosure to the Tokyo Stock Exchange Friday, Shiseido said its consolidated subsidiary and regional headquarters for the Americas, Shiseido Americas Corporation, has completed all procedures to acquire the assets of Olivo Laboratories.
Olivo is a Massachusetts-based startup advancing the dermatological field through proprietary biomaterials technology, including its pioneering and patented Second Skin technology that creates a flexible artificial skin.
Olivo’s patented approach creates a breathable, flexible and nearly invisible artificial skin, that offers a number of benefits previously unachievable through traditional cosmetics or even cosmetic surgery, Shiseido said in a statement.
As a result of the transactions, the Olivo research and development team will join Shiseido Americas Corporation and support Shiseido Group’s research and development activities.
“Combining Olivo’s innovative technology with Shiseido’s research and development capabilities 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 skincare and suncare,” the cosmetics giant said.
This acquisition is the latest in a series of initiatives supported by Shiseido and its Global Innovation Center to further expand its global beauty innovation footprint.
Olivo was founded in 2015 by renowned scientist Dr. Robert Langer, professor at the Massachusetts Institute of Technology; Dr. Dan Anderson at MIT; and Dr. Rox Anderson at Massachusetts General Hospital.
Terms of the transaction were not disclosed.