The present invention relates to the field of bio-active agent delivery, and to delivery vehicles in particular. Specifically, the invention concerns micelles and reverse micelles for the improved delivery of bio-active agents for therapeutic or cosmetic purposes. Accordingly, the invention provides for compositions and cosmetic formulations comprising micelles and reverse micelles and methods of their production. The micelles, compositions, cosmetic formulations and methods of the invention find application in the delivery of bio- active agents, including, for example, vitamins, therapeutic agents or cosmetic products. The (reverse) micelles contain d-ALPHA- tocopheryl polyethylene glycol 1000 succinate (TPGS), and preferably polyhexamethylene biguanide (PHMB) or buffered PHMB. Oil soluble active agents are preferably selected from retinol, tocotrienol and/ or tocopherol. Furthermore, combinations of retinol and ascorbyl palmitate are preferred. Preferred water soluble active agents include insulin, ascorbic acid, or L-ascorbic acid. Preferred organic solvents are ethanol and propylene glycol.
