Business Roundup

ChemDirect has raised an undisclosed amount of series A funding to expand its online marketplace for specialty chemicals shipped directly from suppliers. The funding was led by Schneider National, a trucking and logistics firm.

Solvay has developed stabilizers that help protect polyolefins from the ravages of ultraviolet C light—200–280 nm light used to disinfect surfaces exposed to pathogens such as the virus that causes COVID-19. The radiation can lead to discoloration and cracking.

Solvay is investing in Longwater Advanced Materials II, a venture capital fund focused on start-ups developing advanced materials in China. Solvay is already an investor in Longwater’s first such fund, introduced in 2019.

Back of the Yards algae sciences, a Chicago-based developer of extracts and alternative proteins, has secured investment from Japan’s DIC, which makes the algae spirulina. DIC will share expertise on algae culturing.

BigHat Biosciences has garnered $75 million in series B funding from investors including Bristol Myers Squibb and Amgen Ventures. BigHat’s antibody design platform, Milliner, uses artificial intelligence to develop safer and more effective antibodies for a range of conditions, the company says.

Oxford Science Enterprises, an investment firm set up by the University of Oxford to commercialize its research, has raised $300 million from a raft of investors. The organization will use the funds to foster spinout companies.

Eastman Chemical is expanding capacity in Anniston, Alabama for its Therminol 66 brand of modified terphenyl heat transfer fluids. The 50% capacity increase should be complete in 2024.

Enterome will get $41 million in cash and equity from the food giant Nestlé Health Science. Enterome will leverage bacterial technology to find compounds that mimic allergens and steel the immune system against food allergies and inflammatory bowel disease.