L'Oreal and Evonik Join Forces in $38.6 Million Funding for Biotech Start-Up Abolis
L'Oreal and Evonik's Strategic Investment in Abolis
In a significant financial boost for the biotechnology sector, L'Oreal and Evonik have collaborated to inject $38.6 million into Abolis, a pioneering French start-up dedicated to harnessing micro-organisms for innovative solutions. Located in Genopole, Paris, Abolis has been a trailblazer since its inception in 2014.
Funding Impact on the Biotech Industry
This investment not only aids Abolis's research and development but also positions it as a competitive player in the global market. The funds will enhance Abolis's capabilities in the biotechnology field, paving the way for groundbreaking discoveries.
- Abolis specializes in applying biotechnology for various applications.
- The funding will drive innovation and sustainability efforts.
- Investments like this are critical for advancing biotechnology.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.