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Business Roundup

March 12, 2023 | A version of this story appeared in Volume 101, Issue 9


Alpek has shut down its Cooper River, South Carolina, polyethylene terephthalate resin plant for an indefinite period. The company says transferring the site’s production to other locations will save it $20 million annually.

PPG Industries has launched its Sigmaglide 2390 antifouling paint technology. The company says the slick marine coating can reduce a ship’s need for energy by 20%.

Eni, the Italian oil company, and Abu Dhabi National Oil Company have signed an agreement to collaborate on energy transition projects. The agreement covers renewable energy as well as clean hydrogen projects.

Noema Pharma, a Swiss company that tackles diseases of the central nervous system, has closed a series B financing round of $112 million. The company will use the money to advance its clinical assets, which include an mGluR5 inhibitor that is being evaluated to treat severe pain in trigeminal neuralgia and seizures in tuberous sclerosis complex.

Bayer, esqLABS, Dynamic42, and the Placenta Lab at Jena University Hospital are launching a 1-year pilot program to develop organ-on-chip technology. The partners hope to reduce animal testing in pharmaceutical development.

Cabot plans to establish a research center in Münster, Germany, that will focus on battery materials. The company will be investigating nickel-based cathodes, silicon anodes, dry and aqueous electrode processing, and materials for solid-state batteries.

AtomVie Global Radiopharma, currently operating at McMaster University, has signed a lease agreement for a 5,900 m2 facility in Hamilton, Ontario. The new facility will accommodate a 10-fold increase in the firm’s radiotherapeutics capacity.

Vector Laboratories has acquired Click Chemistry Tools and Fluoroprobes for undisclosed sums. Vector provides reagents and kits for proteomic and glycomic drug development and other life sciences research.



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