KMG Chemicals is acquiring Valves Inc. of Texas (Val-Tex) for $23.5 million in cash, plus other stock-based remuneration. Val-Tex supplies industrial lubricants and sealants, and earned $3.4 million on $12 million in sales during its last fiscal year. It also owns a 5.2% stake in KMG.
a title="Dow" href="http://www.dowagro.com/">Dow AgroSciences and start-up firm Radiant Genomics will cooperate to develop natural crop protection chemistries. The effort will combine Radiant’s metagenomic product discovery platform with
VUV Analytics, maker of a vacuum ultraviolet absorption spectroscopy instrument, has raised $9 million from investors. VUV will use the money to commercialize the instrument.
Kuraray has acquired Australia-based Plantic Technologies, a maker of biobased barrier films for food packaging. Plantic, whose films are based on high-amylose starch, has annual sales of about $25 million.
Arvia Technology has raised $6 million from investors to demonstrate its graphene-material-based wastewater treatment process. The England-based firm’s technology comes out of the University of Manchester’s School of Chemical Engineering & Analytical Science.
Valeant Pharmaceuticals will lay off 258 workers at North Carolina-based Salix Pharmaceuticals, which it recently acquired for $16 billion. Valeant plans to maintain a limited presence in Raleigh, N.C.
Takeda Pharmaceutical will transfer to Osaka Gas Chemicals its 54% stake in Mizusawa Industrial Chemicals. Founded in 1937 and currently employing 350, Mizusawa produces activated clay for use as adsorbent material, resin additives, and stabilizers for polyvinyl chloride resins.
Merck & Co. will work with Arvinas, a New Haven, Conn.-based biotech firm, on technology to degrade target proteins. The partners will use Arvinas’s proteolysis-targeting chimeras, bifunctional small molecules that induce a cell’s machinery to bind to a particular protein and “label” it for degradation.