Materia has announced the exclusive licensing of its metathesis technology to BASF for use in the research and development of certain specialty chemicals. No financial terms were disclosed.
Metathesis catalysts enable
the formation and manipulation of carbon-carbon bonds in the synthesis of novel
specialty chemicals with superior properties, as well as in the development of
more efficient and low-cost production processes for existing ones. Materia's
catalysts include those from Professor Robert Grubbs at Caltech, who won the
Nobel Prize for the technology in 2005.
"BASF’s technological and commercial leadership, coupled with its strong
understanding of metathesis chemistry, makes it an obvious licensee
choice," said Dr. Michael Giardello, Materia's chief executive officer.
“We look forward to their successful product development."
“Olefin metathesis stands
among a few of the most versatile ways to make carbon-carbon bonds in an
elegant and atom economical way. We are looking for industrial applications
within the BASF portfolio and hope to help the technology finally achieve the
industrial impact it should have,” said Dr. Guido Voit, head of BASF’s
department of Basic Chemicals Research.
For more information, visitwww.materia-inc.comorwww.basf.com.
BASF and Materia Announce Technology License Agreement (10/13/09)
October 13, 2009