Evonik acquires biotech firm innovativeHealth Group

Evonik acquires biotech firm innovativeHealth Group

THE WHAT? Evonik has agreed to acquire innovativeHealth Group (innoHealth), for an undisclosed sum.

THE DETAILS The transaction is expected to complete by the end of March. The company will become part of Evonik’s Care Solutions Business Line.

“Evonik’s 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 Evonik’s 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 innoHealth – to select the right products that show efficacy.”

THE WHY? Evonik said that this acquisition will increase its ability to develop unique and tailor-made active ingredients and accelerate time to market thanks to innoHealth’s biotechnological platforms, which can screen and combine different ingredients to develop novel dermocosmetic products using artificial intelligence.

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