Business Roundup

Dow Chemical says it will invest $50 million by 2014 to further develop new biocide control technologies. Last year, the firm launched an in-can paint preservative, 2-methyl-1,2-benzisothiazol-3(2H)-one.

BASF and the Max Planck Institute for Polymer Research have started up the Carbon Materials Innovation Center at BASF’s Ludwigshafen, Germany, site, tasked with investigating graphene and other carbon-based materials. BASF is investing $13 million in the three-year initiative.

Eni, an Italian oil firm, plans to spend about $130 million to convert its petroleum refinery in Venice into a biorefinery. Initial biofuel production is slated for start-up in January 2014, with additional capacity due on-line in the first half of 2015.

Huber Engineered Materials is increasing precipitated silica capacity at its Etowah, Tenn., plant by 14,000 metric tons per year. The company says it will complete the expansion by the end of next year. Later this year, it will double capacity at its Jhagadia, India, plant to 35,000 metric tons.

SoloPower started up its first production line for thin-film copper indium gallium selenide (CIGS) modules at its facility in Portland, Ore. The start-up firm plans to eventually operate two facilities in Portland employing 450 people and ramp up capacity to 400 MW per year.

Progenics Pharmaceuticals has reduced its workforce by 26% to 77 employees. The Tarrytown, N.Y.-based firm says it is ending early-stage research and focusing on PSMA ADC, an antibody-drug conjugate now in Phase I testing for treatment of prostate cancer.

Carbogen Amcis and ADC Biotechnology will work together to provide antibody-drug conjugate development and manufacturing services. ADC Bio will provide conjugation technology, and Carbogen will offer production and formulation.

Mallinckrodt, the pharmaceuticals division of Covidien, has agreed to acquire CNS Therapeutics for $100 million. Mallinckrodt, a specialist in opioid and pain therapies, sees the pain-management therapies under development at CNS as complementary. Covidien plans to spin off Mallinckrodt next year.

Roche has licensed antibodies from Sunnyvale, Calif.-based Galaxy Biotech that target and neutralize fibroblast growth factor 2 for the treatment of cancer. Roche will pay Galaxy an $8 million license fee and potential milestone and royalty payments.