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Investment

Business Roundup

January 12, 2019 | APPEARED IN VOLUME 97, ISSUE 2

 

PTT has received air and water permits from the state of Ohio for the ethylene cracker complex it plans to build in Belmont County. The Thai firm ­envisages a plant with 1.5 million metric tons of annual capacity.

Ineos has acquired an alkoxylation unit in Lavéra, France, from Wilmar International. Ineos says the purchase complements investments that it is making in ethylene oxide at the site.

Clariant has reduced its stake in the leather-chemical maker Stahl from 19.7% to 14.8%. Clariant sold its leather-chemical business to Stahl in 2014 for cash and a 24% stake in the company.

DAK Americas will acquire Perpetual Recycling Solutions, a recycler of polyethylene terephthalate in Richmond, Indiana. Perpetual’s 45,000-metric-t-per-year plant will complement DAK’s recycling facility in Fayetteville, North Carolina.

Ostara Nutrient Recovery has raised $11 million in funding from Wheatsheaf Group, VantagePoint Capital Partners, and other investors to support an expansion of its wastewater nutrient recovery service. Ostara recently acquired Multiform Harvest, a rival nutrient-recovery firm.

Johnson Matthey will supply Immunomedics with commercial quantities of CL2A-SN-38, the drug-linker combination in sacituzumab govitecan, an antibody-drug conjugate Immunomedics is developing for breast cancer. JM, a contract manufacturer, had been producing smaller amounts.

Gilead Sciences will pay $15 million to license small molecules developed by South Korea’s Yuhan against two targets related to nonalcoholic steatohepatitis, or NASH. Yuhan could get $770 million more.

Black Diamond Therapeutics has raised $85 million in a series B financing round. The company, which launched in December 2018, is developing drugs targeting allosteric mutations that drive cancer.

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