SWANSEA-BASED cosmetic hair removal venture CyDen has entered into a joint product development partnership with US multinational Procter & Gamble.
The deal, the value of which has not been disclosed, will see the development of new products based on CyDen’s ipulse technology– which uses carefully controlled bursts of intense pulsed light (IPL) to quickly and safely reduce unwanted body hair permanently. Its current product is sold by Boots.
The agreement will see the two companies providing innovative solutions for consumers’ beauty and health needs.
CyDen’s patented technology, has advanced the science of IPL, harnessing the power of natural light for medical and beauty treatments – by making light-based treatments available to professionals and for personal, in-home use.
The agreement with P&G will initially target the multi-million pound global market in permanent hair removal, with the launch of a new home use device using CyDen’s ipulse technology, across European markets throughout this year..
As a result of the deal, CyDen will shortly be relocating to larger premises at the Technium 2 building on King’s Road, which will become the base for the development of further hair removal and other light-based devices.
Last year the company expanded its workforce to 35 in anticipation of the deal, and further posts are expected to be created this year
It is relocating from smaller premises at the Technium One building.
Marc Clement, deputy chairman of CyDen, said: “We are thrilled to be recognised for leading the field with our cutting edge technology. This deal is not only fantastic for CyDen, but it also puts Swansea on the map.”
CyDen’s chief executive William Cotton said: “We are delighted to be partnering with P&G with the aim of making our technology available for in-home use.
“These are exciting times for IPL technology and we are pleased as a British company to be leading the way.”
Jennifer Dauer, P&G’s vice-president of beauty and grooming new business creation added CyDen is a world leader in light-based beauty and health treatments, and its research directly aligns with P&G’s strategies in the Beauty Care business, working to develop new solutions and innovations that can touch and improve the lives of our consumers all over the world.”
Prof Clement is also president of the University of Wales and chair of medical devices and innovation at Swansea University.
He realised the potential of IPL accidently, after passing a laser over his hand while working on a project more than 30 years ago. Whilst he wasn’t surprised the laser reduced his hair, it did come as a shock when it didn’t grow back.
Last year CyDen was boosted by £15m in investment.
The investment was backed by Richard Koch, founder of online gambling exchange Betfair and Sir Nigel Rudd, chairman of BAA and a former chair of Boots. He is on the board of CyDen.