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Business Roundup

August 8, 2022 | A version of this story appeared in Volume 100, Issue 27


Trinseo is halting the process to divest its styrenic business, which includes its styrene and polystyrene operations. The company says economic uncertainty, particularly volatility in European energy markets created by Russia’s invasion of Ukraine, undermined the assets’ value.

Avista Therapeutics has partnered with Roche to develop its platform of gene therapy vectors based on adeno-associated viruses to treat rare eye diseases. The deal is potentially worth over $1 billion and stipulates that Roche can license, commercialize, and run clinical trials using the technology.

Dow and Al-Hejailan Group plan to build a plant that will make methyldiethanolamine, a chemical used to purify natural gas. Al-Hejailan will own a majority of the facility, while Dow will market the output.

WeylChem is spending $15 million to boost production of glyoxal in France, by one-third while reducing the site’s carbon footprint by about 20%. Glyoxal is used in polymer production and other applications.

Enko, a crop science start-up, has raised $70 million in series C financing. The company will use the funding to continue searching for pesticides using DNA-encoded libraries and machine learning.

Agilent Technologies has acquired Polymer Standards Service for an undisclosed amount. Polymer Standards specializes in hardware and software used for polymer characterization.

Arkema plans to acquire Polimeros Especiales, which makes waterborne resins. The Mexican firm had $40 million in sales in 2021 and makes products for paints, adhesives, and construction markets.

IDRx, a biopharmaceutical company aiming to treat cancer with combination therapies, launched on Aug. 2 with $122 million in series A funding. The company says that a Phase 1 first-in-human study of one of its small-molecule tyrosine kinase inhibitors (TKIs), IDRX-42, has been initiated, and another TKI is in the pipeline.



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