Business Roundup

Solvay, saying that new display technologies are being delayed, is selling most of its organic light-emitting diode patent portfolio to Nissan Chemical Industries. BASF similarly sold its OLED patent portfolio to Universal Display earlier this year.

Novozymes has acquired the German microbial research firm Organobalance. The company, which has 29 employees, specializes in microbial screening and assay development. It boasts a large collection of microbial strains useful in the food, feed, and animal health industries.

Mitsubishi Chemical has agreed to acquire the 35% of Nippon Kasei that it doesn’t already own. With annual sales of more than $350 million and nearly 600 employees, Nippon Kasei produces various specialty chemicals.

Oxiteno, a Brazilian specialty chemical maker, is opening an R&D lab at the University of Southern Mississippi’s innovation and commercialization park. The lab will develop products for U.S. agriculture, paint, personal and home care, and oil and gas customers.

Linde has formed a partnership with NuMat Technologies, a start-up that’s commercializing storage, separation, and purification systems enabled by metal-organic frameworks. The two firms say they will look to apply MOF technology in multiple areas related to industrial gases.

Ikea’s venture capital subsidiary has invested an undisclosed sum in Terramera, a Canadian developer of biopesticides. Terramera says its Inspirium technology increases the performance of biological materials.

Regeneron and Teva Pharmaceutical Industries have agreed to codevelop fasinumab, a Regeneron antibody in Phase III development for osteoarthritis pain and Phase II development for lower back pain. Teva will pay $250 million up front and share equally in R&D costs as well as the product’s commercial value.

Eisai has opened the Eisai Andover innovative Medicines (AiM) Institute, a drug discovery center in Andover, Mass. The research facility employs 90 scientists who will work on drugs for conditions including dementia, cancer, and auto-immune diseases.