Volume 86 Issue 35 | p. 25 | Concentrates
Issue Date: September 1, 2008

Business Roundup

Department: Business

Sterling Chemicals has extended an agreement to supply BP with acetic acid through 2031. Sterling also says it will increase annual acetic acid capacity at its Texas City, Texas, plant by 100 million lb in the spring of 2009, bringing total capacity to 1.2 billion lb.

Denham Capital, a private equity firm, plans to invest $50 million in CariSal Holding to allow it to complete a 100,000-metric-ton-per-year caustic soda facility in Point Lisas, Trinidad & Tobago. The facility, to come on-line in 2010, will also produce 148,000 metric tons of calcium chloride.

Altana has purchased United States Bronze Powders' effect pigments business. The unit, which makes copper, bronze, and stainless steel pigments, generated $8 million in sales in 2007.

Bristol-Myers Squibb and PDL BioPharma have formed an alliance to develop PDL's elotuzumab, an anti-CS1 antibody currently in Phase I development for multiple myeloma. BMS will pay PDL $30 million upfront. PDL could receive $480 million in development milestone payments and $200 million in sales-based milestones.

GFS Chemicals has licensed technology for manufacturing ammonia borane (H3NBH3) from Ensign-Bickford Aerospace & Defense. The synthesis was devised some 50 years ago by Sheldon G. Shore of Ohio State University. GFS says the molecule is used for in situ generation of molecular hydrogen.

Materia has exclusively licensed olefin metathesis catalysts developed by Warren E. Piers of the University of Calgary, in Alberta. The license is an expansion of a 2004 agreement between Materia and University Technologies International, the university's technology-transfer center, relating to Piers's research.

Galapagos has acquired the structure-based drug discovery assets of England-based Sareum Holdings for about $1 million and will integrate them into its BioFocus DPI services division. According to Galapagos, BioFocus now offers a full suite of lead optimization services.

Anthill Technologies will supply its high-speed chemistry technology to Zafgen, a Boston-based biopharmaceutical firm. Anthill will use its ACOS synthesis and purification capabilities to help Zafgen find new obesity therapies. Joseph C. Hogan Jr., a cofounder of ArQule, formed Anthill in 2005.

Ciba has signed a joint-venture agreement with Saudi Arabia's Astra Polymers to produce and sell antioxidant blends in several Middle Eastern countries. At the same time, the two firms will study the feasibility of building an antioxidant plant in Saudi Arabia.

 
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