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Business Roundup

April 11, 2016 | A version of this story appeared in Volume 94, Issue 15

Dow Chemical has agreed to sell its specialty films business to Illinois-based Transilwrap. The Dow business makes blown oriented polystyrene and polyolefin films at plants in Hebron, Ohio, and Drusenheim, France.

KMG Chemicals has acquired Nagase FineChem, a Singapore-based producer of process chemicals for the liquid-crystal display and semiconductor industries with sales of $8 million in 2015. Texas-based KMG says the purchase will strengthen its electronic chemicals business in Asia.

Southern Oil Refining will build a $12 million pilot plant to produce “bio crude oil” from sugarcane bagasse and, potentially, prickly acacia in Gladstone, Australia. If the pilot is successful, the Australian firm will build a $115 million plant that will produce 200 million L per year.

Taiyo Nippon Sanso has acquired a stake in Jilin OLED Material, a Chinese manufacturer of materials for organic light-emitting diodes. The deal grants the Japanese firm exclusive sales rights to Jilin’s products outside China. Taiyo plans to bundle Jilin materials with its own products.

National Silicon Industry Group of China has offered to buy the Finnish silicon wafer maker Okmetic for more than $190 million. With a plant in Finland and contractors in China and Japan, Okmetic produces silicon wafers used in making sensors, discrete semiconductors, and analog circuits.

Bind Therapeutics will cut its workforce by 38%, to 61 employees. The firm announced the move along with inconclusive data from Phase II trials for its lead product, the cancer treatment BIND-014. Bind, which uses polymeric nanoparticles to deliver drugs, says it is considering other changes.

Johnson & Johnson will develop Tesaro’s PARP inhibitor niraparib for prostate cancer. J&J will pay a $35 million up-front fee and will take an equity stake worth $50 million in the biotech firm. Tesaro paid Merck & Co. just $7 million in 2012 for the rights to niraparib, which is currently in Phase III studies in ovarian and breast cancer.

Array Biopharma will license its small-molecule tropomyosin receptor kinase A inhibitors, including ARRY-954, to Asahi Kasei Pharma for $12 million plus up to $64 million in milestone payments. In in vivo models, the inhibitors block peripheral pain responses, Array says.



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