Materia Licenses Metathesis Catalyst Platform to Eisai
PASADENA, CA. – (BusinessWire), June 20, 2007-Materia, Inc., a catalyst technology company, announced today the licensing of its metathesis platform to Eisai Co., Ltd., a leading Japanese pharmaceutical company, for use in drug discovery and development. The non-exclusive license agreement provides rights to discover, develop, and patent pharmaceutical compounds and related processes using the Company’s catalysts and associated intellectual property.
Metathesis catalysts enable the formation and manipulation of carbon-carbon bonds in the synthesis of entirely new pharmaceutical products with superior properties as well as in the development of new, more efficient and low cost production processes for existing products. Materia’s catalysts include those from Professor Robert Grubbs at Caltech who won the Nobel Prize for the technology in 2005. “We are pleased that Eisai accepts the value of Materia’s technology in drug discovery and process chemistry and look forward to its exciting progress,” stated Dr. Michael Giardello, Materia’s Chief Executive Officer.
“We believe that this agreement further validates metathesis’ broad potential for the pharmaceutical industry and Materia’s unique intellectual property and position as the partner of choice.” About Materia Materia was founded in 1998 to commercialize olefin metathesis catalyst technology. This market-enabling, Nobel Prize winning, green chemical technology enables chemical compounds to be synthesized with greater efficiency, under less stringent reaction conditions, and with reduced byproducts and hazardous waste. As stated by the Royal Swedish Academy of Sciences when awarding the 2005 Nobel Prize, “metathesis is an example of how important basic science has been applied for the benefit of man, society, and the environment.”
For more information, visit: [http://www.materia-inc.com/] . For more information please contact: Materia John Kibler, Director, Corporate Development (626) 584-8400 [mailto:email@example.com]
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Posted: June 2007