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Business

Business Roundup

September 3, 2020 | APPEARED IN VOLUME 98, ISSUE 34

 

Huntsman has agreed to sell 42.5 million shares in its former titanium dioxide business, Venator, for $100 million to the private equity firm SK Capital Partners. The shares represent 40% of Venator’s outstanding shares. SK has an option to buy an additional 9.5 million shares within 30 months.

Air Liquide will spend more than $160 million to build air separation and partial oxidation units for Eastman Chemical at its Longview, Texas, complex. The firms say the partial oxidation unit will recycle CO2, reducing the carbon intensity of the Eastman facility.

Siemens, the Siemens unit PSE, and Perceptive Engineering are partnering with the UK’s Medicines Manufacturing Innovation Centre to advance continuous drug-making processes. The partners aim to develop systems that quickly produce small volumes of personalized medicines.

Evonik Industries is investing about $17 million at its Marl, Germany, site to increase output of three isobutene derivatives over 50% by December 2021. The derivatives are tert-butyl alcohol, di-isobutene, and 3,5,5-trimethylhexanal.

Repsol will spend $37 million to build a polypropylene line in Tarragona, Spain, by next year. The polypropylene grade the plant will produce has good impact resistance, making it suitable for automotive applications, Repsol says.

Zeopore Technologies, a Belgian start-up, has raised undisclosed financing from Capricorn Partners, Innovation Fund, and other investors to commercialize catalytic mesoporous zeolites. ­Zeopore says the low-cost zeolites can be used in refining, petrochemical production, and plastic-waste conversion.

Gilead Sciences will pay $120 million to license an experimental cancer-antibody therapy from Jounce Therapeutics. The antibody is intended to reduce immunosuppressive tumor-infiltrating T regulatory cells by targeting CCR8.

Kinnate Biopharma has raised $98 million in series C financing to further develop its small-molecule inhibitors of kinases linked to treatment-resistant cancers. The start-up raised $75 million in December 2019.

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