Olfactive Biosolutions, Inc. Acquires State-of-the-Art Biotechnology
Olfactory and taste receptor technology to further strengthen Olfactive Biosolutions offerings for the Food & Beverage and Consumer Packaged Goods Industries
Sept. 26, 2023—Mountain View, CA.—Olfactive Biosolutions, which uses AI and olfactory receptor data to create new products and enable sustainability for customers in the food & beverage and consumer packaged goods industries, announced that it has acquired the biotechnology assets and related data from Aromyx Corporation.
Olfactive Biosolutions uses AI trained on taste and smell receptor data to significantly boost product success rates. Olfactive Biosolutions solutions cut development time and costs and increase clean label and sustainability while providing consumers with the exact taste and aroma they want.
The addition of the Aromyx assets will further strengthen Olfactive Biosolutions Olfactory Language Model (OLM), a unique and powerful large language model trained on olfactory and taste receptor data.
“We are excited to integrate Aromyx cutting edge biotechnology,” said Nils Lommerin, Olfactive Biosolutions CEO. “This is state of the art receptor technology, and includes what is arguably the largest database of ligand-receptor data,” he said.
Lommerin and Hanson cofounded Olfactive Biosolutions earlier this year. Its products apply AI to quantifiably measured taste and smell data, and are being used in new product development, recycling and sustainability. Total market size for AI in food alone is already $7 billion in the US; projections are for it to increase to more than $35 billion by 2028, a CAGR of 38 percent.
Lommerin is the former CEO of Del Monte Foods, where he increased shareholder value significantly and boosted revenue.
Hanson is the founder of Aromyx, which pioneered the measurement and digitization of taste and smell using olfactory and taste receptors.
About Olfactive Biosolutions, Inc.
Olfactive Biosolutions, Inc., uses AI trained on its proprietary taste and smell receptor data to boost product success rates while cutting development time and cost, increasing clean label and sustainability, and in gaining market share for its customers. Its technology measures actual taste and smell of existing products and ingredients, and the company uses its data to teach AI to formulate new products and reformulate existing products. Its team has deep expertise in olfactory scient, AI and food & beverage, plus a host of well-known advisors from academia and the corporate world.
To learn more, visit https://olfactive.bio or follow us on LinkedIn.
Investors contact:
Nils Lommerin
[email protected]
Media contact:
Deb Stapleton
(650) 815-1239
[email protected]
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