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Business

Business Roundup

June 6, 2016 | APPEARED IN VOLUME 94, ISSUE 23

Lubrizol has named Eric R. Schnur, currently chief operating officer, as its president, effective immediately. Schnur will become chairman and CEO on Jan. 2, 2017, replacing James L. Hambrick, who has been with Lubrizol for 38 years, the last 14 as CEO.

Siluria Technologies, which is developing the catalytic conversion of methane into ethylene, has received a $10 million investment from Italian engineering company Maire Tecnimont, bringing the total that Siluria has raised since November to $40 million. The two companies also have forged a technical collaboration.

Licella Fibre Fuels and Canfor Pulp Products will form a joint venture to investigate installing Licella’s catalytic hydrothermal reactor technology at Canfor’s Canadian pulp facilities to convert biomass into a biocrude oil. The oil could be further processed into fuels and chemicals.

ChemDiv, a contract research firm based in San Diego, will provide chemistry-based drug discovery services to Cystic Fibrosis Foundation Therapeutics. ChemDiv says it will draw on its commercial collection of more than 1.6 million druglike small molecules.

BioMarin has withdrawn its application for the Duchenne muscular dystrophy drug drisapersen in Europe after negative feedback from European authorities. FDA rejected the oligonucleotide drug in January.

AC Immune, a Swiss biotech firm developing Alzheimer’s disease treatments, has filed for an initial public offering of stock worth up to $50 million. AC Immune has drug development partnerships with Johnson & Johnson and Genentech.

Pfizer and BioRap Technologies will collaborate in the autoimmune disease area to develop an antibody that binds with a specific immune checkpoint molecule to drive regulatory T cells. BioRap is the technology transfer arm of the Rappaport Family Institute for Research in the Medical Sciences at Technion—Israel Institute of Technology.

TwoXar and the University of Chicago’s department of medicine will collaborate on identifying new drugs for treating atherosclerosis. Palo Alto, Calif.-based TwoXar will use its drug discovery software to predict drug candidates for in vivo testing.

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