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Business Roundup

October 10, 2016 | A version of this story appeared in Volume 94, Issue 40

H.I.G. Capital has acquired Dominion Colour, a Canadian provider of color pigments and pigment preparations. H.I.G., a private equity firm, says it plans to expand Dominion through organic growth and acquisition.

Manali Petrochemicals will pay $17 million to acquire Notedome, a polyurethane systems house based in Coventry, England. Primarily an auto industry supplier, Notedome has customers in 45 countries, Manali says. India-based Manali produces the polyurethane raw materials propylene glycol and polyols.

AgroSavfe, a Belgian agbiotech company, has raised $8.7 million in a second round of venture funding from Gimv, Globachem, and other investors. The company is developing biopesticides, including a fungicide for use on fruits and vegetables.

Monsanto has licensed Dow AgroSciences’ Exzact Precision Technology gene editing platform for R&D of new crop varieties and traits. Based on zinc finger nucleases, Exzact was developed for Dow by Sangamo BioSciences.

Senomyx, a taste science biotech firm, has extended its sweet taste collaboration with PepsiCo for three years. Under the program, the drink maker will provide $18 million in research funds and license Senomyx’s low-calorie natural sweeteners and other flavor ingredients.

Porton Fine Chemicals, a China-based contract manufacturing firm, has opened a technology center in Cranbury, N.J. Capable of housing 75 employees, the center will work on synthetic routes and specialized molecules such as the linker-payload component of antibody-drug conjugates.

Recursion Pharmaceuticals has raised $12.9 million in its first formal round of funding from backers including Lux Capital, Obvious Ventures, and Epic Ventures. Recursion is applying machine learning to drug discovery. It claims to have found new uses for already-approved drugs or shelved drug candidates in treating rare genetic diseases.

Alnylam’s stock price fell by almost 50% in premarket trading on Oct. 6 after the firm said it is discontinuing clinical trials of revusiran, an RNAi drug for a rare hereditary disease. The company says more people died in the revusiran arm of the trial compared with the placebo.



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