Olaplex Holdings Acquires Purvala Bioscience

By Tamara Parker • Tuesday, August 26 15:50 • Permanent Link

Olaplex Holdings, Inc. (NASDAQ: OLPX) has announced its acquisition of Purvala Bioscience, a biotech company based in Boston. This acquisition marks Olaplex's first since its inception over ten years ago. Purvala, founded in 2020 by Dr. Bradley Olsen, focuses on developing high-performing molecules inspired by naturally occurring biological structures.

Olaplex CEO Amanda Baldwin emphasized the company's commitment to innovation, stating that scientific breakthroughs continue to inspire them to deliver the best products for their stylist community and consumers. The company believes that with Purvala, they have the potential to create the next generation of disruptive, science-backed product innovation alongside their patent-protected bond-building technology, bis-amino.

This acquisition showcases Olaplex's dedication to product innovation and further solidifies its position in the health and beauty industries. Today the company's shares have moved -5.84% to a price of $1.45. For more information, read the company's full 8-K submission here.

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