ever, lithium is more commonly obtained from brines in the deserts of Chile and Nevada.—MELODY BOMGARDNER
MERGERS & ACQUISITIONS MIT President L. Rafael Reif announces The Engine in Cambridge, Mass. initial batch of 60 start-ups. Those accepted will participate in the incubator for up to 12 months, receiving financial investments, guidance, access to specialized equipment, and shared services. The Engine says it will provide developers of breakthrough innovations with the capital and support they need to move from the lab to the next development phase.—ALEX SCOTT
ENERGY STORAGE
▸ FMC to buy lithium from Quebec’s Nemaska FMC has signed a contract with Nemaska Lithium to purchase 8,000 metric tons per year of lithium carbonate, used to make battery materials, beginning in mid-2018. Nemaska has been working since 2009 to develop a spodumene mine and processing plant in Quebec. Spodumene, a lithium-containing volcanic rock deposit, is a common source of lithium in China and at Australia’s Talison mine. In the West, how-
▸ ChemChina-Syngenta deal draws EU probe The European Commission has begun an indepth probe to assess whether ChemChina’s planned acquisition of Syngenta is in line with European regulations. The probe will determine whether the deal would reduce competition in pesticides and other chemicals. A preliminary EC investigation already identified that ChemChina may be an important generics competitor for Syngenta. Syngenta is one of the world’s largest seed and pesticide companies. ChemChina controls Adama, Europe’s largest supplier of generic pesticide products. The Commission has until March 15, 2017, to decide if it will allow the acquisition.—ALEX SCOTT
DRUG DEVELOPMENT
▸ TaiGen, HEC form hepatitis venture TaiGen Biotechnology and HEC Pharmaceutical are forming a joint venture to develop hepatitis C virus treatments for China. HEC
Business Roundup
CREDIT: ANDY RYAN/MIT
▸ Shin-Etsu Chemical will spend $23 million to build a functional silicones plant at its base in Naoetsu, Japan. The company will also expand its silicone rubber technical center in Higashimatsuyama, Japan. Shin-Etsu claims to enjoy a 50% share of the Japanese silicones market. ▸ Evolva, a Swiss biotech firm, has signed a license agreement with ERS Genomics, the gene-editing technology firm started by Emmanuelle Charpentier, an inventor of CRISPR-Cas9 techniques. Evolva will gain access to CRISPR to engineer yeast and
fungi to produce ingredients for industrial applications. ▸ BASF says a fourth person has died from injuries sustained in a fire and explosions that occurred at its Ludwigshafen, Germany, headquarters in the early hours of Oct. 20. The firm says the explosion was likely caused by a contractor cutting the wrong pipeline. ▸ Vertellus Specialties has emerged from bankruptcy after selling itself to its lenders, a group that includes Black Diamond Capital Management and Brightwood Capital
will get a 51% stake for funding construction of a plant and contributing a drug candidate, yimitasvir, that recently started clinical trials in China. TaiGen will get a 49% stake for contributing furaprevir, which is undergoing Phase II trials in China and Taiwan. The two candidates—both oral drugs for interferon-free HCV regimens—are likely to be approved in China because they are similar to existing drugs, says Tommy Lin, HEC’s director of business development and licensing.—JEAN-FRANÇOIS TREMBLAY
PHARMACEUTICAL CHEMICALS
▸ Lonza will supply Clovis drug Contract manufacturer Lonza will build a plant in Visp, Switzerland, to supply rucaparib, the active ingredient in Clovis Oncology’s PARP inhibitor. Lonza will open a new production H line in 2019 that will N provide dedicated supply H3C N H until 2025. N Rucaparib H targets cancer Rucaparib by inhibiting the DNA-repair enzymes poly-ADP ribose polymerase-1, 2, and 3. It is under FDA priority review for treating advanced ovarian cancer with a decision to come by February 2017.—ANN THAYER
Advisors. The specialty chemical maker says it has an improved capital structure and increased financial flexibility. ▸ Ferro has acquired Electro-Science Laboratories for $75 million in a bid to beef up its business in electronics packaging materials. ESL, based in King of Prussia, Pa., is projected to have earnings of about $9 million in 2016. ▸ Croda International has opened formulation laboratories in China, Indonesia, and South Korea for its personal, home, health, and crop care businesses. The firm says the labs will enhance collaboration with customers in the three countries.
▸ Third Rock Ventures has raised $616 million in its fourth investment fund. The health care venture capital firm says it has raised $1.9 billion since 2007 to build companies developing drugs in areas such as oncology, immunology, cardiovascular disease, and rare genetic diseases. ▸ Astellas Pharma will pay $468 million to acquire the oncology drug discovery firm Ganymed Pharmaceuticals, based in Mainz, Germany. Astellas will pay an additional $953 million to Ganymed shareholders if the company’s leading compound, an antibody, performs well in clinical trials.
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