|
Materia and UTI Inc. Announce Agreement |
|
|
|
Materia and UTI Inc. Announce Technology Access and Development Agreement
Pasadena, CA and Calgary, Canada – December 2004. Materia, Inc., a Pasadena-based chemical technology company, and University Technologies International Inc., the University of Calgary's technology commercialization company, today announce the completion of a technology licensing agreement covering olefin metathesis catalysts developed by Dr. Warren Piers of the University's Department of Chemistry, Faculty of Science.
The agreement provides Materia first rights to further develop and commercialize Dr. Piers' technology which represents a significant improvement in the efficiency, stability and speed of current catalysts used to break and reform carbon bonds in materials ranging from industrial coatings to pharmaceuticals.
As part of the agreement, Materia will provide research materials and support for further scientific study of these promising new metathesis catalysts. Specific terms of the agreement were not disclosed. "Dr. Piers is a premier catalyst scientist and Materia is extremely pleased to be working with his group at the University of Calgary. His recently discovered metathesis catalysts are unique and hold considerable commercial promise" stated Dr. Michael Giardello, Materia's CEO and CTO; "As with our other key holdings, Grubbs' Catalysts and Hoveyda-Grubbs' Catalysts, we plan to aggressively pursue the further development of these catalysts while providing them for research-use by others through Sigma Aldrich."
Hugh Jones, Vice President of UTI Inc., said "Materia is the ideal partner for the development and commercialization of this important new technology. Their expertise and position in olefin metathesis will accelerate the development and commercialization of this important University of Calgary discovery. The agreement is the first step in what we see as a long and mutually rewarding relationship with Materia."
|
