Materia Licenses Metathesis Catalyst Platform to Merck & Co., Inc.PASADENA, Calif. -- Materia, Inc., a catalyst technology company, announced today the non-exclusive licensing of its metathesis metathesis /me·tath·e·sis/ (me-tath´e-sis) 1. artificial transfer of a morbid process. 2. a chemical reaction in which an element or radical in one compound exchanges places with another element or radical in platform to Merck & Co, Inc., a global pharmaceutical company, for use in the discovery and development of pharmaceuticals. No financial terms of the agreement were disclosed. Metathesis catalysts enable the formation and manipulation of carbon-carbon bonds A carbon-carbon bond is a covalent bond between two carbon atoms. The most common form is the single bond – a bond composed of two electrons, one from each of the two atoms. 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 Nobel Prize, award given for outstanding achievement in physics, chemistry, physiology or medicine, peace, or literature. The awards were established by the will of Alfred Nobel, who left a fund to provide annual prizes in the five areas listed above. for the technology in 2005. "Materia's technology platform is a powerful tool for the efficient synthesis of novel drug-like compounds," stated Dr. Michael Giardello, Materia's Chief Executive Officer. "We are pleased that our metathesis platform will be used by Merck to enhance its drug discovery and development programs." About Materia Materia was founded in 1998 to commercialize olefin metathesis Olefin metathesis or transalkylidenation (in some literature, a disproportionation) is an organic reaction which involves redistribution of olefinic (alkene) bonds.[1] 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 Hazardous waste Any solid, liquid, or gaseous waste materials that, if improperly managed or disposed of, may pose substantial hazards to human health and the environment. Every industrial country in the world has had problems with managing hazardous wastes. . As stated by the Royal Swedish Academy of Sciences The Royal Swedish Academy of Sciences or Kungliga Vetenskapsakademien is one of the Royal Academies of Sweden. The Academy is an independent, non-governmental scientific organization which acts to promote the sciences, primarily the natural sciences and mathematics. 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: www.materia-inc.com. |
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