Page 163 - CW E-Magazine (1-10-2024)

News from Abroad

fragrance R&D, product development pany has completed on the functional
and innovation, ELC. “As consumer benefits of fragrance. Estée Lauder said
interest in the functional benefits of key learnings will be used at the group’s
fragrance continues to accelerate, we R&D facilities worldwide, including its
are thrilled to be the first prestige beau- Paris-based Atelier, a new co-creation
ty company to partner with Dr. Hummel space opening in early 2025 exclusively
and TUD on neuroscience research that focused on fragrance innovation and
will provide us with deeper insights into craftsmanship.
how fragrance plays a role in evoking
nostalgia.” “There is a unique opportunity for
academia and industry to partner together
The collaborative research spans to explore the power of scent,” said
a number of advanced measurement Dr. Hummel. Exploring the links
science approaches that assess the neuro- between emotions and scents is based on
pathways associated with scent, psycho- assess the correlation between scent and the ancient and deeply held belief that
metric and physiological analyses, emotions, according to ELC. It will scents have the power to help people
brain imaging studies, and more to build upon existing studies the com- feel better.

FINANCING ROUND
Evonik and L’Oréal invest in Abolis Biotechnologies

French cosmetics giant, L’Oréal and Ms. Barbara Lavernos,
German chemicals firm, Evonik, have Deputy CEO in charge
announced a joint investment in France- of Research, Innovation
based biotechnology company, Abolis and Technology, L’Oréal
Biotechnologies, which specialises in Groupe. “By mobilising
the manufacture of ingredients derived our respective compa-
from microorganisms for the cosmetics, nies’ research, innova-
pharmaceutical and nutrition markets. tion and manufacturing
capabilities and exper-
The two firms participated in a €35-mn tise, we are building an
fundraising round through its their end-to-end value chain
venture capital arms – Evonik Venture that we believe has tre-
Capital and BOLD – joining other mendous potential to be
investment firms like DeepTech & Evonik to bring selected innovations a game-changer in bio-based ingredients
Climate Fonds (Germany), Clay Capital to market, for healthcare, cosmetic and for beauty,” she added.
(Singapore), Icos Capital (Netherlands), chemical sectors. The collaboration
and the transatlantic investment firm, between L’Oréal and Abolis Biotechno- Mr. Bernhard Mohr, Managing
Liberset. This funding will fuel the com- logies began in 2019 and led to an exten- Director Evonik Venture Capital, said,
pany’s expansion into global markets ded lab set-up in 2022. “Abolis’ competencies in strain deve-
and accelerate its research and develop- lopment and metabolic engineering ide-
ment efforts to bring microorganism- “This investment highlights our ally complement the expertise of Evonik
derived ingredients at the scale needed to belief in Abolis’ potential to create a in fermentation processes, downstream
satisfy the global demand for innovative more sustainable future across various processing and scale-up for commercial
and sustainable beauty and personal care industries, including beauty,” said production. The strategic collaboration
ingredients. Ms. Samantha Etienne, CEO of BOLD. of our Business Line Care Solutions
“We are proud to invest in Abolis and with Abolis and L’Oréal alongside our
The investment is accompanied by expand our collaboration, working investment will enable the access to a
the signing of a new strategic industrial together as a tight ecosystem alongside wide range of markets, including cos-
partnership between Abolis, L’Oréal and our historical partner, Evonik,” noted metics, nutrition and healthcare.”

Chemical Weekly October 1, 2024 163

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