Olaplex Acquires Purvala Bioscience, Tapping MIT-Backed Biotech for Next-Gen Beauty and Health Solutions

Olaplex Holdings, Inc. (NASDAQ:OLPX) ("OLAPLEX" or the "Company") today announced the acquisition of Purvala Bioscience, a Boston-based biotech company. This marks the first acquisition from OLAPLEX since the brand launched over ten years ago with breakthrough product formulations and a new-to-market philosophy around bond-building in haircare.

Purvala is a Boston-based company founded by Drs. Bradley Olsen, Justin Paloni, and colleagues that seeks to develop transformative bioinspired technologies with applications across health and beauty industries. Since its launch in 2020, Purvala has focused on the creation of high-performing molecules inspired by naturally occurring biological structures. In addition to his leadership role at Purvala, Dr. Olsen also serves as a Professor of Chemical Engineering at MIT.