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Materia Completes Licensing Deal with Boston College
PASADENA, CA. - July 2003. Materia, Inc. (Pasadena, CA) announced today that it has exclusively licensed technology invented by Boston College Professor Amir Hoveyda. The technology, optioned exclusively to Materia since August 2001, includes compositions of matter, methods of synthesis, and use of the so-called Hoveyda-Grubbs' catalysts and their derivatives. Over the past two years, Hoveyda-Grubbs' first and second generation catalysts have been two of the most rapidly adopted metathesis catalysts for both research and manufacturing.
"We are thrilled to be taking the next step forward with Professor Hoveyda and Boston College," states Materia's CEO, Dr. Michael Giardello. "Amir Hoveyda is a preeminent researcher in the application of Materia's metathesis technology to the synthesis of complex molecules. The addition of the Boston College patents bolsters Materia's already dominant position in ruthenium metathesis technology."
Commenting on the completion of the licensing deal Professor Hoveyda stated, "I am very pleased to be working with Materia and to have this important step behind us. Materia took what was little more than a preliminary report from my laboratories a few years ago and quickly turned it into a reality. They have assembled an excellent team of employees and advisors, all of whom are thoroughly committed to the commercialization of the technology."
Professor Hoveyda is currently the Joseph T. and Patricia Vanderslice Millennium Professor of Chemistry at Boston College. He joined the faculty in 1990 following a short tenure with Pfizer Pharmaceuticals. He is a graduate of Columbia University, obtained his doctorate with Professor Stuart L. Schreiber at Yale University, and was a post-doctoral fellow with Professor David A. Evans at Harvard University.
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