Materia Announces NIH Funding

Materia has announced NIH funding for the further development of a metathesis-enabled reagent system for drug discovery.

PASADENA, CA. – (BusinessWire) – October 23, 2006. Materia has announced NIH funding for the further development of a metathesis-enabled reagent system for drug discovery.

The program, jointly conducted with Dr. Paul Hanson at the University of Kansas through a National Institutes of Health Small Business Technology Transfer (STTR) grant, will use Materia’s proprietary Ring Opening Metathesis (ROM) catalysts to generate broadly-applicable reagents and matrices for drug development. These tools will be used by pharmaceutical researchers to aid compound design via efficient modification of functional handles, as well as simplifying the resulting compounds’ purification.

“Drug discovery companies are constantly searching for more efficient methods to generate drug-like chemical libraries,” stated Dr. Hanson. “The flexibility of our first systems to handle diverse chemistries has already attracted considerable industry interest. This funding should expand the reagent offering as well as enable further optimization and scale up.”

“We are excited to strengthen our relationship with Dr. Hanson and the University of Kansas,” followed Dr. Michael Giardello, Materia’s Chief Executive Officer. “We have already licensed several technologies from Dr. Hanson’s laboratory and hope that this exciting program will complement Materia’s existing product offering to the pharmaceutical industry.”

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.”

About the University of Kansas Chemical Methodologies and Library Development Center (KU-CMLD)

The KU-CMLD was established in 2003, with funding from the National Institute of General Medical Sciences (NIGMS), to enable the development of new chemical methodologies to enhance projects directed at library synthesis. The scientific work of the KU-CMLD center is focused along the lines of four thematic areas: 1) phase-trafficking, 2) biomimetics, 3) combinatorial organometallic chemistry, and 4) natural products and privileged structures. Dr. Hanson is the lead investigator on Project 1.