|AVECIA SIGNS STRATEGIC ALLIANCE WITH IBC IN NEW CHIRAL TECHNOLOGY
:: PRESS RELEASE - April 2001 ::
Avecia has announced that it is to partner with IBC Advanced Technologies Puragen Division in the further extension of its portfolio of chiral technologies. Under the agreement, Avecia will license and co-fund development of Puragen's innovative molecular recognition approach to chiral separation. Avecia has one of the healthcare industry's most powerful chiral technology toolkits with particular strengths in chemo and bio-catalysis. Avecia sees the potential for Puragen's separation technology to extend the range and effectiveness of this toolkit.
When fully developed, molecular recognition technology (MRT) is expected to be superior to the conventional separation and resolution techniques currently dominant in chirals manufacturing.
IBC Advanced Technologies Inc., founded in 1988 and based in Utah, USA are world pioneers in molecular recognition. The technology has been proven at scale for the extraction of precious metals in mining and metals refining. IBC, through its Puragen Division, has now extended this technology to provide a powerful tool for the separation of chiral products.
Steve Izatt, Chief Executive Officer of IBC Advanced Technologies, commented: With single enantiomer chiral substances accounting for approximately 70% of small molecules in drug development, there is significant market potential for new manufacturing technologies. And he added: IBC is delighted that the partnership with Avecia will provide an opportunity to develop the full potential of MRT to serve the healthcare industry.
Avecia Pharmaceuticals' Director of New Technology Ventures, Dr. David Moody, noted: MRT is a potentially world-leading separation technology and an important addition to our chirals portfolio. And he added: We look forward to working with IBC to fully exploit the potential for improved speed and cost effectiveness in chiral drug manufacture.
Through combined in-house development, in-licensing and out-licensing, Avecia Pharmaceuticals is actively advancing and commercializing new technologies for healthcare manufacturing. Avecia has recently licensed powerful catalysts for asymmetric reduction and is in the final stages of negotiations for a range of other new asymmetric catalysts, to serve a wide range of chiral manufacturing needs.
Notable in-house successes have included catalytic asymmetric transfer hydrogenation CATHy, facilitating a broad range of chiral alcohols and amines. Similarly, Avecia has commercialised bio-reduction in processes that offer chiral alcohols of uniquely high purity.
Contact: Neil Izatt, Vice President, Corporate Development
IBC Advanced Technologies, Inc.
Roger Johnstone, Media Relations Manager
Tel: +44 (0) 161.721.2942
Fax: +44 (0) 161.721.5319
Andrew Smalley, Public Affairs Manager
Tel: +44 (0) 161.721.2441
Fax: +44 (0) 161.721.5319
Notes to Editors:
Avecia Pharmaceuticals is a major player in the manufacture of early phase intermediates and actives, and in contract manufacturing of both intermediates and active pharmaceutical ingredients for launched pharma products. The Pharmaceuticals business unit is part of Avecia's Fine Chemicals business segment. With 2000 sales of £789.6m. and operating profit of £120m., Avecia is Europe's largest privately-owned specialty chemical company.
IBC Advanced Technologies (American Fork, Utah, U.S.A. website: www.ibcmrt.com) is a leader in the commercialization of MRT - technology based on a Nobel-Prize winning concept. IBC's products provide powerful solutions to separations needs in a range of industries. IBC recently formed its Puragen Division to commercialize unique, cutting edge bio-separations technology for customers in the healthcare industry. The technology provides rapid and selective separations, with the potential for significant reduction in the drug discovery, development and production cycle time and cost.
Puragen has developed or is developing highly selective synthetic receptors for a comprehensive suite of bio-molecule separations, including chiral molecules, nucleic acids, oligonucleotides, peptides and proteins. Notable technology milestones have been achieved in IBC's laboratories under work sponsored by the United States National Institutes of Health and Department of Commerce Advanced Technology Program.
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