News in Brief

19 April 2004 00:01  [Source: ICB Americas]

ADM Gets EU’s OK

The European Union (EU) Commission has granted Archer Daniels Midland Company (ADM) novel foods authorization for the use of plant-derived sterols and sterol esters in specified food products.

More Time for Solutia

The US Bankruptcy Court in New York has given Solutia Inc. a 90-day extension to propose a reorganization plan. Solutia had 120 days to propose the plan after filing for Chapter 11 bankruptcy protection in mid-December.

Polysciences Buys Dream Cosmetics

Polysciences Inc., a contract manufacturer of specialty chemicals and laboratory products, has bought Dream Cosmetics Inc. The acquisition doubles Polysciences’ contract manufacturing capabilities.

Insmed Buys Lease

Insmed Inc. has acquired a lease to operate a recombinant protein manufacturing facility in Boulder, Colo., formerly operated by Baxter International. Insmed will produce its Phase III SomatoKine product at the site.

Syngenta Gets Patent

The US Patent and Trademark Office has approved Syngenta’s fifth transgenic patent. Three of the previously issued patents are the subject of a lawsuit Syngenta filed on July 25, 2002, against Monsanto, DeKalb Genetics, Pioneer Hi-Bred, Dow Agrosciences and Mycogen Seeds.

zuChem Continues To Attract Investors

zuChem Inc., a supplier of glycochemicals and other specialized sugars, has raised more than $500,000 in a second close of its series A financing.

Nanotech Merger

Nanotechnologies Inc. and Technanogy Materials Development have agreed to merge their assets, strengthening their nanoaluminum businesses.

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