Abolis raises €35 million, forms development pact with Evonik and L’Oréal

In Germany, Abolis Biotechnologies has closed a €35 million ($38.9 million) financing round to scale its biomanufacturing operations, accelerate business development efforts, develop its own line of products, and expand the activities of Microbiome Studio, its business unit dedicated to deciphering and engineering microbial ecosystems.

Participants in the funding round include Evonik Venture Capital; BOLD, L’Oréal’s venture capital fund; DeepTech; Climate Fonds; Clay Capital; Icos Capital; and Liberset.

Abolis also announced a new strategic industrial partnership with L’Oréal and Evonik to bring selected innovations to market for healthcare, cosmetic and chemical sectors.

“Biotechnology as a lever for sustainable transformation is a key component of Evonik’s growth strategy,” added Bernhard Mohr, Managing Director Evonik Venture Capital. “Abolis’ competencies in strain development and metabolic engineering ideally complement the expertise of Evonik in fermentation processes, downstream processing and scale-up for commercial production. The strategic collaboration of our Business Line Care Solutions with Abolis and L’Oréal alongside our investment will enable the access to a wide range of markets, including cosmetics, nutrition and healthcare.”