Published:
Chemtura and Venomix Extend Collaboration
MIDDLEBURY, Conn. andKALAMAZOO, Mich., Aug. 20 /PRNewswire/ -- Chemtura
Corporation (NYSE: CEM) and Venomix, Inc. have agreed to extend their
collaboration on the development of insecticides based on spider venom
peptides, the companies announced today. The companies began their
collaboration in 2006. Since then, Chemtura has made payments to Venomix for
the achievement of scientific milestones. During the extended collaboration,
the companies will agree annually on research milestones and payments. The
financial terms of the original agreement and the extension have not been
disclosed.
The collaboration centers on the discovery that peptides contained in
spider venom have insecticidal properties. Venomix has isolated and
characterized a number of these peptides, which are lethal to insects but
harmless to non-target species, including humans. One of these peptides,
designated "hybrid," is the object of the collaboration.
The first goal of the collaboration is to develop the "hybrid" peptide as
a commercial insecticide. Longer term, the companies will collaborate to
produce small, chemical molecules that "fit" the same receptor as the "hybrid"
peptide. This is expected to lead to chemical pesticides with the same
biological activity and safety profile as the "hybrid" peptide.
John L. McIntyre, Ph.D., President and CEO of Venomix, said, "The
collaboration with Chemtura has gone extremely well. We have an excellent
relationship and we both see greater opportunity now from the collaboration
than we did when we started."
Gregory E. McDaniel, Group President for Crop Protection, Chemtura said,
"We are very excited about the hybrid peptide technology and our ongoing
collaboration with Venomix. This technology has been shown to provide control
against a number of commercially important crop insects and has the potential
to significantly enhance our current portfolio."
Chemtura Corporation, with 2007 sales of $3.7 billion, is a global
manufacturer and marketer of polymer additives, performance specialties,
consumer products and crop protection products. Additional information
concerning Chemtura is available at www.chemtura.com.
Venomix is developing a new generation of insecticides using peptides from
spiders. The company's technology is based on ground-breaking research
conducted at the University of Connecticut. Over 50 unique, spider-venom
peptides have been identified. This patented technology is exclusively
licensed to Venomix. Products under development have a unique mode of action,
are highly effective against insects and related pests and are harmless to
non-target species, including humans. Target markets include agriculture,
animal health and specialty non-crop uses such as household insects. Venomix
products will be ideally suited for the environmentally conscious twenty-first
century. www.Venomix.net
SOURCE Venomix, Inc.
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