Evonik acquires biotechnology company
The company has concluded a purchase agreement to acquire Innovative Health Group (Inno Health), with the transaction due to be completed before the end of March. Headquartered at the Scientific Park of Madrid (Spain), Inno Healthe´s technology platforms screen and combine natural ingredients and extracts to generate novel dermocosmetic products with synergistic activities. The company will be part of Evonik’s Care Solutions Business Line. The purchase price will not be disclosed.
Development of unique active ingredients
The acquisition of Inno Health further strengthens the company´s health and care growth engine and allows the company to expand its product development for unique active ingredients. This latest move forms part of the company´s strategy to target growth for its innovation footprint within, and beyond, the personal care field.
“Our DNA for development is to innovate new products that show proven efficacy and support unique cosmetic claims,” said Tammo Boinowitz, Senior Vice President and General Manager at the Care Solutions Business Line. “In order to screen the right products, we wanted to enlarge our lab capabilities and enhance our screening abilities. This is a core strength of Inno Health – to select the right products that show efficacy.”
In addition to the screening platform, the Spanish biotechnology company developed a tool to combine active ingredients showing synergistic effects. The platform can be used for product development and as a selection tool for the customers. Additionally, the German speciality chemicals company will offer customized active ingredients that meet the specific market trends and consumer needs.
Identification of synergistic activities between ingredients
Inno Health’s Ingredient Combinatorial System platform is used to identify synergistic activities between individual ingredients to develop novel dermocosmetic products that offer superior activity for specific applications. The artificial intelligence system implements an algorithm capable of calculating optimized ingredient blends for different applications.
Optimization of cost and development times
Tammo Boinowitz added: “With this latest acquisition we have strengthened our innovative power in the area of cosmetic active ingredients. We will now be able to optimize the costs and development time, as well as achieve high quality and high-performance products that show attractive and scientifically proven properties.”
Prof. Dr. Eduardo Muñoz MD, PhD, Professor of Immunology at the University of Cordoba, and co-founder of Inno Health, said: “Our company was created with the mission of offering novel skin care products and to provide technological support for their development. Our major focus has been on a scientific-based approach to new and more effective therapeutic solutions to dermatological skin conditions. Now as part of Evonik we are in a much better position to realize these goals, and we are looking forward to helping them meet their wider targets and goals.”