Business Roundup

Sabic has formed a collaboration with PKN Orlen for the development of chemical facilities in Poland. The effort could result in a new ethylene cracker in the country and the expansion of existing facilities.

Arkema plans to increase global capacity for its Pebax elastomers, derived in part from castor oil, by 25% by expanding its facility in Serquigny, France. Applications for the elastomers include running shoes and ski boots.

Biosynthetic Technologies has acquired the castor oil derivative specialist Innoleo. Both firms convert biobased oils into lubricants, coatings, and personal care ingredients.

Perstorp has purchased the dimethylolpropionic acid (DMPA) business of Geo Specialty Chemicals. DMPA is an ingredient in water-based polyurethane coatings and adhesives.

MycoWorks has closed a $125 million series C funding round led by the investment group Prime Movers Lab. The company says it will use the funds to build the first full-scale plant for its leather alternative Reishi, which is made from fungal mycelium.

Lonza has agreed to ­provide small-molecule drug manufacturing services to companies in the portfolio of the venture capital firm Forbion and its partner BioGeneration Ventures. Lonza already provides the partners with large-molecule drug production services.

BioTools has signed a deal with the computational chemistry firm Schrödinger aimed at accelerating discovery of chiral small-molecule drugs. BioTools uses vibrational circular dichroism for structure elucidation of chiral molecules.

Evotec and Eli Lilly and Company have formed a pact to discover drugs for metabolic conditions such as kidney disease and ­diabetes. Lilly can select five programs developed by the partners. It will pay Evotec up to $180 million per program.