Advertisement

If you have an ACS member number, please enter it here so we can link this account to your membership. (optional)

ACS values your privacy. By submitting your information, you are gaining access to C&EN and subscribing to our weekly newsletter. We use the information you provide to make your reading experience better, and we will never sell your data to third party members.

ENJOY UNLIMITED ACCES TO C&EN

Business

Business Roundup

July 23, 2021 | A version of this story appeared in Volume 99, Issue 27

 

Cysbio, a Danish biotech start-up, has secured more than $5 million in funding from the European Union to make industrial chemicals using its low-cost fermentation technology. Cysbio’s target products include amino acids and zosteric acid, an ingredient for antifouling paints.

Eastman Chemical is working with the US Automotive Materials Partnership and automotive recycler Pandos to study the recycling of automotive mixed plastics, which comprise 10–20% of auto waste. The partners will investigate Eastman’s process for gasifying plastic waste into carbon monoxide and hydrogen.

Dow will complete expansions this year for silicones used in auto, construction, and electronics markets. Dow is also investing in capacity for hydroxyethylcellulose and polyethylene glycol, ingredients for home and personal care products.

AGC Biologics will acquire Novartis’s cell and gene therapy manufacturing facility in Longmont, Colorado. AGC is also expanding production at the former MolMed, a cell and gene therapy services operation in Milan, Italy, that it acquired last year.

Thermo Fisher Scientific has opened a 6,200 m2 plasmid DNA facility in Carlsbad, California. The investment augments cell and gene therapy services at sites on the US East Coast and in Europe that offer viral vectors, cell therapy manufacturing, and clinical trial support.

Biogen will pay $125 million to InnoCare Pharma to license rights to orelabrutinib, a small-molecule Bruton’s tyrosine kinase inhibitor with potential to treat multiple sclerosis. Biogen markets five MS drugs including Tecfidera and Tysabri.

Nimbus Therapeutics has raised $105 million to develop its allosteric tyrosine kinase 2 inhibitor and its hematopoietic progenitor kinase 1 inhibitor to treat a range of diseases. Nimbus uses computational chemistry from its founding partner Schrödinger.

Stemson Therapeutics has raised $15 million in series A financing to combat hair loss by coaxing a person’s stem cells to turn into hair follicles and implanting them via robotic delivery. The funding was led by Genoa Ventures and AbbVie Ventures.

Advertisement

Article:

This article has been sent to the following recipient:

0 /1 FREE ARTICLES LEFT THIS MONTH Remaining
Chemistry matters. Join us to get the news you need.