Issue Date: October 4, 2004
Materia Buying Cymetech Unit In Bid To Expand Metathesis
Olefin metathesis technology developer Materia, of Pasadena, Calif., is buying the polydicyclopentadiene business of Cymetech, which makes polymeric materials out of compounds such as dicyclopentadiene (DCPD) and norbornene.
As part of the transaction, Materia will receive intellectual property for using Grubbs catalyst technology to make poly(DCPD); Cymetech's headquarters and molding technology center in Huntsville, Texas; and Cymetech's Telene and Prometa resin families. Cymetech isn't giving up its Ultrene line of DCPD products.
Materia was founded in 1997 as Advanced Sports Materials to commercialize the work of California Institute of Technology chemistry professor Robert H. Grubbs in olefin metathesis. The company has licensed poly(DCPD) materials to sporting equipment maker Easton Sports for use in products ranging from baseball bats to archery bows. It is also working on applications for metathesis in fine chemicals.
According to Materia, combining the poly(DCPD) operations of Materia and Cymetech in one company will broaden the range of applications in the polymers. Materia had been limited to pursuing sporting and recreational equipment under its license from Cymetech, whereas Cymetech had applications for agricultural equipment and other products under its license from Caltech.
"Materia and Cymetech have a long history of productive cooperation, and unifying the Grubbs olefin metathesis technology in a single organization is an important milestone in achieving its successful commercial implementation," says Michael A. Giardello, Materia's CEO and chief technology officer.
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