Evonik to Acquire InnoHealth Group

Evonik has announced it has signed an agreement to acquire innovativeHealth Group (innoHealth). The transaction is expected to be completed by end of March. Based at Madrid Science Park (Spain), innoHealth's biotechnology platforms use artificial intelligence to screen and combine natural ingredients and extracts to produce new dermocosmetic products with synergistic effects. The agreement is expected to enhance Evonik's ability to develop unique and personalized active ingredients and accelerate its time to market for products. In addition to the screening platform, innoHealth has developed a tool for combining active ingredients that exhibit synergistic effects. The platform can be used by Evonik for product development and customer selection. Additionally, Evonik will provide customized active ingredients that address specific market trends and consumer needs. innoHealth's Ingredient Combinatorial System platform is used to identify synergistic activities between individual ingredients to develop new dermocosmetic products offering superior efficacy for specific applications. The artificial intelligence system employs an algorithm capable of calculating ingredient combinations optimized for different applications. Cordoba University Immunology Professor and innoHealth co-founder Prof. Dr. Eduardo Muñoz said, "innoHealth was created to introduce new skin care products and provide technological support for their development. The main objective is to create a science-based approach to new and more effective therapeutic solutions for dermatological skin conditions. As part of Evonik, we are in a much better position to achieve these objectives and we believe we will support Evonik in reaching its broader goals."