Materia Inc. and University Technologies International Sign Exclusive License Agreement
University Technologies International (UTI), the University of Calgary’s technology transfer, commercialization and incubation center, and Materia Inc., a chemical technology...
Calgary, AB & Pasadena, CA––(Marketwire – August 14, 2008) – University Technologies International (UTI), the University of Calgary’s technology transfer, commercialization and incubation center, and Materia Inc., a chemical technology company based in California, today announced the signing of an exclusive license agreement for olefin metathesis catalysts developed by Dr. Warren Piers.
“Materia’s expertise in commercializing catalyst technology along with their international competitiveness made them the ideal licensing partner for Dr. Piers’ technology,” said Kevin Casement, vice-president, licensing & business development for UTI. “This agreement illustrates the valuable partnerships being created between university researchers and the business community to bring innovative new technologies to the market.”
This exclusive license is an expansion of the 2004 agreement between UTI and Materia which allowed Materia to provide research materials and support for further scientific studies on Dr. Piers’ metathesis catalysts. Promising results prompted Materia to expand their agreement to an exclusive license which allows them the rights to sell and produce products using Dr. Piers’ technology. The catalysts produced by Dr. Piers are very active and have a faster rate of initiation than some other catalysts. This can allow for the manipulation of carbon-carbon bonds at lower temperatures, potentially decreasing energy consumption and enhancing cost-effectiveness.
“Our relationship with Dr. Warren Piers and the University of Calgary is a great example of how Materia successfully partners with academic thought leaders,” stated Mike Giardello, Materia’s CEO. “We welcome the addition of this technology to our market-dominant ruthenium metathesis catalyst portfolio and look forward to our expanded relationship with Dr. Piers.”
Materia will screen Dr. Piers’ catalysts for a number of challenging olefinic transformations. Added Dr. Giardello, “this technology brings another dimension to our well established catalyst platform.”
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. Metathesis has been accepted as an emerging “green technology” platform and has been broadly adopted by the pharmaceutical, chemical, and polymer industries. 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.” For more information, visit: www.materia-inc.com.
University Technologies International is the University of Calgary’s technology transfer, commercialization and incubation centre for inventors, innovators and entrepreneurs. UTI’s reach expands beyond the University community to include the local business and inventor community. UTI was founded in 1989 and consistently ranks in the top four centers of its kind in Canada and is recognized as an innovation leader in commercializing technology. For more information visit: www.uti.ca
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